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Inaugural Tommaso Padoa-Schioppa Memorial Lecture

  • IFRS Foundation (blue) Image

10 Jul 2014

The first Tommaso Padoa-Schioppa Memorial Lecture took place during the IFRS Foundation Trustees' meeting held on 9 July 2014 in London. Michel Prada, Chairman of the IFRS Foundation, delivered the opening remarks, Mario Draghi, President of the European Central Bank, gave the keynote speech and Richard Portes, Tommaso Padoa-Schioppa Chair at the European University Institute, responded with closing remarks.

The IFRS Foundation Trustees, the European University Institute and the Padoa-Schioppa family have established the Tommaso Padoa-Schioppa Memorial Lecture to honour the memory of Mr Padoa-Schioppa and to promote discussion on the importance of high quality financial reporting to global economic development.

In his opening remarks, Mr Prada noted Tommaso Padoa-Schioppa's professional achievements but also reminded the audience of the personal charm, warmth and charisma of the late Chairman of the IFRS Foundation.

During his keynote speech, Mr Draghi spoke about sovereignty as a positive concept and fiscal and structural policies within a monetary union. He recognised the significant progress made in the last ten years towards International Financial Reporting Standards (IFRS) becoming global standards and called upon policymakers in Europe to "progress swiftly in the adoption of IFRS 9".

In his closing remarks, Mr Portes picked up Mr Draghi's point that the financial crisis had led to fragmentation and renationalisation and called for a reversal of the disintegration of the past five years.

The following documents are available on the IASB's website:

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