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The European Association for Banking and Financial History (eabh) e.V.


Financing Reconstruction

Can historical insight help?

30 Jun 2023 at 9:00am

Frankfurt am Main, Germany

A financial history conference organised by eabh

sponsored by Deutsche Bank AG

This meeting will look at historical precedents of financing reconstruction after war and catastrophe. Can historical insight help?

Which are the right questions to ask to successfully reconstruct the infrastructure and economy of a country or region? Should there be a Marshall Plan for Ukraine? Are grants or loans the more effective way to rebuild? Who should pay how much and how? Which is the most effective way to use any given aid to achieve productive development? How much should be organised by the state or international organisations?

In history, how were financial sectors revived? How did banks rebuild their operations once they were bombed out? Where did they find qualified staff? Who created the initial equity? Which was the role of multi-lateral institutions (International Monetary Fund, World Bank, …) Which was the role of the state?

The past offers many examples of cases: Europe after 1945, Afghanistan and Irak in the 1990s, Haiti after the Earthquakes, Syria, the Middle East after the Arab Spring, to name just a few. We aim to bring together as many examples as possible in order to look at financing reconstruction comparatively.


29 June 202319.30 Dinner
Margarete, Braubachstraße 18-22
30 June 202308.30 Coffee for arriving audience

09.00 Welcome
Christian Sewing, CEO at Deutsche Bank AG

09.10 Trade for peace or peace for trade?
Hugo Bänziger, Chairman of the Board of eabh

09.25 Keynote: Effectiveness of sanctions on Russia
Elina Ribakova, Bruegel

10.05 Ruble’s wars
Ekaterina Pravilova, Princeton University

10.30 Coffee

11.00 Session 1
Reconstruction after war and for independence

The transatlantic financial reconstruction of the United States, 1862-1878
Christoph Nitschke, University of Stuttgart (video presentation)

Financial reconstructions in Europe in the 20th and 21st centuries
Volker R. Berghahn, Columbia University

Eastern European reconstruction after 1989
Mateusz Walewski & Bogdan Zawadewicz, Bank Gospodarstwa Krjowego (BGK)

The debt before the indemnity: Reconstructing the French and Haitian economies
before and after 1825
Malick Ghachem, Massachusetts Institute of Technology

Connecting Ukraine to international capital markets: An application of structured
finance to post-war reconstruction
Yarema-Luka Yeleyko, Goethe University

Moderator: Carmen Hofmann, Secretary General of eabh

12.00 Lunch

13.00 Panel Discussion

• Jagjit Chadha, Director of the National Institute of Economic and Social Research
• Harold James, Princeton University
• Deniz Ova, Director SALT Garanti BBVA
• Christian Sewing, CEO at Deutsche Bank AG
• William Wells, Managing Director at Rothschild & Co

Moderator: Hugo Bänziger, Chairman of the Board of eabh

14.00 Coffee

14.15 Session 2
The 20th century interwar years in Europe

Trade finance in post-war financial reconstruction: The ter Meulen International Credit Scheme and its legacy, 1919-1929
Jamieson Myles, University of Oxford

Reconstruction and integration of the financial system in the Kingdom of Serbs, Croats and Slovenes after World War I
Saša Ilić & Sonia Jerković, National Bank of Serbia

The Bank of England and post-World War I rationalisation
Vincent Flute, Liverpool John Moores University

The National Bank of Greece and the Asia Minor refugees. A modernisation challenge during the inter war years
Margarita Dritsas, Hellenic Open University

Investing for the long run: The rise and fall of Société Générale de Belgique, 1835-1988
Gertjan Verdickt, Leuven University

Moderator: Melanie Aspey, Director, The Rothschild Archive & Treasurer of eabh

15.15 Session 3
Rebuilding Europe after 1945 and beyond

Italy’s Mediobanca, the Marshall Plan and the reconstruction of Western Europe
Taddeo Molino Lova, Mediobanca

Scandinavian post WWI relief credits for Poland. Genesis, payment difficulties and cancelation of remaining debt
Robert Andrzejczyk, Józef Piłsudski Museum & Rzeszów University

From post-war reconstruction to global development. The Kreditanstalt für Wiederaufbau
Alexander Nützenadel, Humboldt University Berlin

Moderator: Harold James, Claude and Lore Kelly Professor in European Studies,
Princeton University & Chairman of the Academic Council of eabh

15.50 Closing remarks
Harold James, Princeton University

16.00 End of conference


30 Jun 2023 at 9:00am to 4:00pm


Deutsche Bank AG
Taunusanlage 12
60325 Frankfurt am Main

Frankfurt am Main, Germany

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