Shocking changes have occurred on the map of challenges and risks facing the economy and the financial sector since last year. The global political architecture is shaking after Russia's aggression against Ukraine and the US elections. Russia's imperial policy and the US—China rivalry pose existential questions for Europe about defense capabilities and the level of integration. Liberal democracy is trembling under the pressure of populist and authoritarian movements. These are key issues that participants of the European Financial Congress will discuss on June 2-4 in Sopot.
European Financial Congress (EKF) – A Key Meeting for the CEE Financial World
EKF is one of the most important meetings for the financial world in Central and Eastern Europe. Over three days in Sopot, uncensored debates address the most important topics arising from the geopolitical situation and the growing uncertainty about economic, trade, and financial relations globally, as well as the subject of the stability of the European and Polish financial systems. The outcome of the debates and discussions is recommendations for changes in economic policy and systemic solutions regarding safe and sustainable development.
Business, Democracy, and the New Economic Order
Capital and Democracy – EKF Research Findings
Last year's Congress posed one of the most important questions in our turbulent times: Do business and democracy go hand in hand, or are they completely separate? EKF Research findings showed that for capital, it is not decisively important whether it fuels the economies of democratic states or supports the competitiveness of authoritarian regimes. According to European Commission estimates, hundreds of billions of euros in savings flow out of the Union annually, which could work on the Old Continent.
The Capital Markets Union and the Future of Capital Flows
Can we do something about this without violating the free movement of capital, which is one of the principles of the currently challenged liberal world order? Part of the European answer to this question is the Capital Markets Union, now called the savings and investment union, whose key importance is emphasized, among others, by the European Central Bank. From the Polish perspective, it is important whether the difficult process of creating this segment of the common market will affect the development of the Polish capital market and whether it can strengthen it.
The Future of Transatlantic Relations in a New Era
A community of values and interests, an alliance, a partnership, deep cooperation between Europe and the United States seemed an undeniable axiom for 80 years. Meanwhile, the situation has changed. Congress participants will discuss whether the transatlantic bond can be reborn in a new era of transactional politics. Experts will discuss whether the transatlantic alliance can adapt to the challenges thrown at it.
Financing Europe's Defense and Security – The "ReArm Europe" Program
The "ReArm Europe" Program – Financial Possibilities and Challenges
Doubts related to the beginning of a new era in transatlantic relations have led the European Union to decide to take care of its defense. European Commission President Ursula von der Leyen recently announced the "ReArm Europe" program. What are our actual capabilities for financing defense, and is the Union ready for such an undertaking, especially since it should be common and well-coordinated? What is the future of the European Defense Fund, the role of institutions like the ECB and the EIB, or is it possible, for example, to issue "defense" Eurobonds? Can the private sector play a significant role in financing armament?
Public Debt and Fiscal Policy in the Context of Defense Spending
According to the "ReArm Europe" plan, EU countries are to receive a waiver from fiscal rules for public finance deficits if they increase them beyond the permissible level due to defense spending. This does not change the fact that higher deficits will translate into greater debt. During the Congress, the report "Threats of Excessive Public Debt. 2025 Edition" will be presented, which will likely also refer to the difficult compromises awaiting Poland in fiscal policy.
European Economy Competitiveness, Technology, and the Role of the Financial Sector
The EC Agenda and Mario Draghi's Competitiveness Report
Increasing the competitiveness of the European economy is the main topic of the report published last year by former ECB President Mario Draghi and the leading economic agenda of the European Commission.
The Financial Sector as Support for Technology and Security
The tool for achieving competitiveness, increasing productivity is technology. Their development and wide adoption require support from the financial sector, as do energy, digital, cyber, and defense security. The possibilities, opportunities, and barriers in this area for financial institutions operating on the Polish market will be one of the most important topics of this year's Congress.
The Polish Banking Sector – Challenges and Prospects at EKF 2025
The Polish banking sector has been at the center of EFC's attention since its inception. The prospect of increased investment in the Polish economy is an opportunity for it, but after years of exceptionally modest lending activity, banks will have to take on new challenges related to risk in completely new geoeconomic circumstances. The debate of the presidents of the largest Polish institutions will be the traditional culmination of the Congress.
