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Governor Talks: Beyond Inflation: Europe's Policy Challenges in a Changing World

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Location: G-09

Governor Talks: France

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Overview

Europe's economic challenges are becoming increasingly complex in an environment marked by subdued growth, rising fiscal pressures, geopolitical fragmentation, and rapid technological change. Inflation has returned amid high and volatile energy prices. How policymakers meet these forces will have a lasting impact on Europe’s economic future—and central banks are playing a central role. In this Governor Talks session, Mateusz Szczurek, Director of the IMF European Department, and Emmanuel Moulin, Governor of the Banque de France, will discuss how to best address these economic challenges. The discussion will touch on the outlook for inflation, the implications for ECB policy, and the broader lessons policymakers can draw from recent inflation episodes. Beyond monetary policy, the conversation will explore Europe's progress toward deeper economic integration, the fiscal challenges facing European economies, and the role of structural reforms in strengthening productivity, competitiveness, and long-term prosperity.

Panelists

Emmanuel Moulin

Governor of the Banque de France

 

Emmanuel Moulin joined the French Treasury in 1996. He was appointed Alternate Director of the World Bank in Washington in 2000 before becoming Secretary General of the Paris Club in 2003. In 2006, he became senior banker at Citigroup. In 2007, he was appointed Deputy Chief of Staff to Christine Lagarde, Minister of Economy. He joined the Presidency of the Republic in June 2009 as economic advisor. In May 2012, he joined the Eurotunnel group as Deputy CEO. In February 2015, he became Managing Director of the investment bank Mediobanca. He has been Chief of Staff to the Minister of the Economy from May 2017 to November 2020 when he was appointed Director General of the Treasury. In January 2024, he was appointed Chief of Staff to Prime minister. In April 2025, he was appointed Secretary general of the presidency. In May 2026, he was appointed Governor of the Banque de France. He graduated from ENA in 1996. He also holds a degree from Sciences-Po, Essec and University Paris II.

Emmanuel Moulin

 

 

Mateusz Szczurek (Moderator)

Director of the European Department, IMF

 

Mr. Szczurek is the Director of the European Department at the International Monetary Fund since July 2026. In this capacity, he oversees the IMF’s work with Europe. Mr. Szczurek served as Poland’s Minister of Finance from 2013 to 2015. In that role, he was responsible for fiscal policy, public debt management, international economic cooperation, and oversight of financial institutions. He represented Poland in major international fora and played a key role in advancing reforms to strengthen fiscal management and public administration. Since 2024, Mateusz has served as Member of the Management Board and Chief Risk Officer at BGK, Poland’s development bank, where he oversaw risk, ESG, sectoral analysis, and financial modeling. From 2016 to 2024, he held senior roles at the European Bank for Reconstruction and Development, leading work on macroeconomic assessment, reform monitoring, and policy dialogue in EU countries of operation. During that period, he was also a member of the inaugural European Fiscal Board, contributing to discussions on Europe’s fiscal framework. Earlier in his career, Mr. Szczurek was Chief Economist for Central and Eastern Europe at ING Bank and held various economist positions in the banking sector. He has also taught public finance and international economics at the University of Warsaw. Mr. Szczurek holds degrees from the University of Warsaw, Columbia University, and the University of Sussex, where he earned his PhD in Economics.

Mateusz Szczurek (Moderator)