The ex Governor of the Bank of Finland Sirkka Hämäläinen, during her acceptance speech into the RACEF highlighted the need for the European Central Bank (ECB) to set up a body such as the recently created European Consulting Board for Systematic Risk in order to regulate and supervise actions in the financial markets and to recommend to member states of the European Union on steps to be taken on financial risks.

Member of the Executive Board of the European Central Bank between 1998 and 2003, Hämäläinen emphasised the potential that the monetary policy has for preventing situations of crisis, by foreseeing periods of crisis and providing guarantees to the financial sector.

The ex Governor this afternoon was admitted into the RACEF as Corresponding Member for Finland, at a Solemn Act presided over by the President Jaime Gil Aluja. Responding to her speech was Full Member Ramón Poch, who highlighted the prominence of Hämäläinen in the recuperation of the Finish economy after the crisis it underwent in the 90’s. The investiture took place at the Fomento del Trabajo Nacional in Barcelona, where the RACEF is domiciled.