Synopsis of Training Day of the 6th ECB Simulation Conference

The Training Day serves as the inaugural day of the annual ECB Simulation Conference for university students, where distinguished representatives from institutions, businesses, and academia share their knowledge and experiences with the participants.

The Training Day for the 6th Conference took place at the Bank of Greece on December 9, 2022. The key topics of the Conference were:

  • Monetary Policy Transmission Mechanism
  • Inflation (Types, Forms, Components, Historical Data, and Forecasts)
  • The interaction of Monetary and Fiscal Policies in a period of pandemic and geopolitical developments.
  • Central Bank Digital Currency and Digital Euro.

The 6th Conference was made possible thanks to the invaluable support of the Bank of Greece, the Hellenic Bank Association, the National Bank of Greece, the Alpha Bank, the Hellenic Loan Services Association and the M.Sc. in International Negotiations of the AUEB.

Here, we highlight the positions of the speakers of the Training Day of the 6th ECB Simulation Conference. We are greatly honoured to have speakers such as Ms. Papaconstantinou Christina, Deputy Governor of Bank of Greece, Mr. Vujčić Boris, Governor of the Croatian National Bank, Mr. Glöckler Gabriel, Principal Adviser, Directorate General Communications of the European Central Bank, Mr. Gortsos Christos, Professor of Public Law, NKUA & President of the Academic Council of the European Banking Institute, Mr. Hadjiemmanuil Christos, Professor at the University of Piraeus and LSE and Member of the Monetary Policy Council of the Bank of Greece, Mr. Drakos Konstantinos, Vice-Rector at the Athens University of Economics and Business, Mr. Athanasopoulos Theodoros, Chairman of the Board of Directors, HLSA & CEO, Cepal Group, Mr. Zavvos Georgios, Chair of Board of Directors at the Hellenic Development Bank, Mr. Magginas Nikos, Chief Economist, Head of Economic Analysis Division, National Bank of Greece, Mr. Lekkos Ilias, Chief Economist, Piraeus Bank and Ms. Kourkouli Sylvia, Corporate Governance and Sustainability – ESG, Alpha Bank.

Opening Remarks

Mr. Georgios Zavvos, launched the Training Day by mentioning that developments such as wars and crises, are a strong test of the ability of the European Union (EU) to effectively transform its European Integration model around energy, trade, defense and financing of the economy. In addition, Mr. Zavvos also demonstrated the need for the acceleration of the establishment of the Banking Union and the European Capital Markets Union. Regarding the Greek financial system, Mr. Zavvos indicated that it should meet three main future objectives, including the maintenance of its resilience, the support of the green transition and the support of the Greek Small Medium Enterprises (SMEs). Moreover, speaking about the vital role of the Development Banks, especially during crises, he discussed the support of the HDB to the Greek SMEs and mentioned that the HDB aims to broaden the criteria for the financing of the SMEs, in terms of co-financing and guarantees provision. Finally, Mr. Zavvos highlighted the importance of the green transition by comparing it to the Industrial Revolution.

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The Opening Remarks closed Mr. Theodoros Athanasopoulos, who described the role of the loan servicers in the financial system. Mr. Athanasopoulos mentioned that loan servicers are asset managers which operate on behalf of banks and investors, and their main task is to assist SMEs, households and the economy with their restructuring strategies and to bring assets for the cases that restructuring fails through liquidations back to the economy. Finally, he discussed the prospects and challenges of the industry, as well as the need for all the involved parties to be literate and well-trained.

Keynote Speeches

Keynote Ομιλίες begun with Ms. Christina Papaconstantinou, in her presentation discussed the drivers of inflation in the euro area, the Eurosystem’s monetary policy response and some policy considerations going forward. Mrs. Papaconstantinou pointed out the soaring energy prices, the significant supply bottlenecks (both factors exacerbated by the war in Ukraine) and the recovery in demand following the lift of the restrictions that were imposed to curb the pandemic as the main factors of the increase of inflation. Mrs. Papaconstantinou continued by noting that the appropriate response for monetary policy in order to safeguard price stability is to proceed in a gradual but determined manner, incorporating optionality and flexibility. Finally, Mrs. Papaconstantinou emphasized that when deciding on the path of monetary policy normalization, the factors that need to be considered are the increasing risk of a recession, the transmission lags of the decisions that aim to tackle inflation, the fact that the inflation in the euro area is mainly supply-driven and the potential spillover effects relating to the synchronized tightening of monetary policies across the world. Monetary policy needs to remain an anchor of stability and confidence that inflation will return to its target in a timely manner.

The Keynote Speeches were concluded by Mr. Gabriel Glöckler, who highlighted the important role of the ECB’s communication policy and how it affects all stakeholders in the economy. He continued his speech by presenting the progress that the ECB has made and continues to make in the field of communication in order to strengthen its credibility in an environment of polarization, controversy and low trust, and underlined the important role of the National Central Banks in communicating policy to national audiences. He also stressed the importance of dialogue with young people through activities such as the ECB Simulation Conference and mentioned the need to broaden this dialogue. In addition, Mr. Glöckler raised the issue of the current lack of understanding of the ECB’s purpose and role by the general public, which creates a gap in the trust they have in the institution. Finally, he described ways in which the ECB is trying to simplify and modernize policy communication in order to meet the challenge.

Continuing Mr. Boris Vujčić addressed the motivation for the adoption of the euro and discussed the current situation of the Economic and Monetary Union (EMU). Referring to the economic benefits of adopting the euro, Mr. Vujčić emphasized on the lower exposure to foreign exchange risk, on the higher capacity to respond to financial crises and external shocks and on the lower transaction and borrowing costs, while adding other benefits such as the reputational gain of Croatia and the participation in the decision making processes of the euro area. Mr. Vujčić pointed out that the economic costs of adopting the euro are relative small, noting mainly the loss of monetary autonomy, one-off changeover costs and a negligible increase in consumer prices. Finally, Mr. Vujčić presented the current situation of the EMU and in particular the tightening of the conditions for the adoption of the euro, which forces the candidate member states to make considerable efforts to join and marks significant changes in the institutional organization of the EMU.

Inflation and the threats affecting the stability of the financial system

Mr. Gortsos, in his presentation referred to the way in which the current developments in the macroeconomic landscape affect the stability of the financial system.

In particular, he mentioned that the permacrisis environment in Europe has led the economy into a situation of high inflation and low growth. In addition, he stressed that the factors contributing to inflationary pressures are beyond the direct ECB’s control, and in order to address the current situation, in addition to raising key interest rates, aligning fiscal and monetary policy in the European economy is necessary. Finally, he focused on the elevated risks that may affect financial stability, as bank profitability is expected to decline in 2023, which will lead to a further reduction in lending to the real economy, significantly increasing the probability of a new wave of non-performing loans.

Central Bank Digital Currencies and Digital Euro

The second discussion panel was lanched by Mr. Konstantinos Drakos, who referred to stablecoins and Central Bank Digital Currencies (CBDCs). First of all, he stressed the need to use the term “crypto assets”, instead of “cryptocurrencies”, as these assets do not perform the basic functions of money and are not legal tenders. He also underlined that cryptocurrencies are characterized by high volatility, which prevents the development of a transaction framework based on them. In addition, Mr. Drakos focused on stablecoins, which were created to cure the problem of the volatility of crypto assets. In more detail, he analysed the forms of stablecoins, the technologies on which their design is based, the positive aspects, and the risks created by their use. Finally, Mr. Drakos analyzed the topic of Central Bank Digital Currencies and in particular the prospect of creating a Digital Euro, examining its possible forms, its advantages over traditional banknotes, as well as reflections on the negative effects of its issuance.

The panel presentations concluded by Mr. Christos Hadjiemmanuil, who in his presentation referred to the prospect of creating a digital euro, which will significantly reduce the cost of cross-border and direct payments. More specifically, Mr. Hadjiemmanuil analyzed the characteristics that the digital euro should have and particularly emphasized the importance of security and privacy policies for users and the need to create criteria for its use with an emphasis on the fact that it should not be used as an investment instrument. Finally, he raised the issue of restricting the use of banknotes with the appearance of the digital euro, but also of establishing the appropriate legal framework for its issuance and use.

The impact of inflationary pressures on the European Economy and the financial system: Transformation and growth in the new environment

The last discussion panel of the Training Day, began by Mr. Ilias Lekkos, who discussed the challenges that the European economy is currently facing. As Mr. Lekkos mentioned, post-covid supply bottlenecks, the high demand for goods, and high levels of freight led to high inflation during 2022 which now gradually lessens. Mr. Lekkos also highlighted that in 2023 a recession of 0.5% and inflation of 5% is expected in the EU. Moreover, Mr. Lekkos stated that a huge part of this inflation is due to imported energy and may have harmful effects on the economy, such as an increase in unemployment rates, while the European economy will start to slow down. Closing his speech, Mr. Lekkos mentioned that according to forecasts, inflation is expected to start decreasing gradually and finally drop at a rate of 2,5% by 2024.

The Training Day speeches were concluded by Ms. Sylvia Kourkouli, who gave a speech regarding ESG integration challenges in banking. As she noted the last few years are marked by important changes in the European and international levels. Those changes touch on a wide agenda such as Sustainability and Climate Change background, ESG Initiatives and Standards, Regulatory & Supervisory Reporting Requirements, and the drafting and implementation of a clear transition strategy. Mrs. Kourkouli also mentioned that while “Sustainability” and “Climate Change” are not new for the banks or the economy a series of international agreements (Paris Agreement, EU Green deal, etc) speeded up the need for transformation. In addition, she underlined that current ESG standards are also focused on banks because they are the main source of financing for the economy and regulators, governments, investors, and stakeholders increase the pressure on the financial system as most stakeholders consider pressure the principal tool to drive change. Moreover, Mrs. Kourkouli mentioned that supervisory expectations on climate-related and environmental risks as they are expressed by the ECB and EBA, together with non-financial reporting requirements create the need for increased ESG-related data. She stressed that Banks face the challenge of sourcing out those data as Large listed corporates, due to shareholder expectations, are the only companies that publish them in an organized manner, while SMEs and companies with more than 500 employees newly subject to CSRD are not currently providing data of the same quality. Closing her speech, Mrs. Kourkouli underlined that ESG data will eventually need to be integrated with multiple parts of the lending and investment chain.

Continuing, Mr. Nikos Magginas presented the macroeconomic developments of the European economy. More specifically, Mr. Magginas mentioned that inflation reached its highest point in the last 40 years, underlining that despite the rise, economic activity remained relatively unchanged. He continued his speech by describing developments in the labor and equity markets, where he said that the unemployment rate recorded historic lows in most developed countries and equity markets managed to hold most of the gains of the previous decade despite the correction that took place in 2022. At the same time, he focused on the fiscal expansion that took place in order to counter the effects of Covid-19 which led to an increase in public debt around the world and stressed that the extended period of “unconventional” monetary policy measures is coming to an end. Finally, Mr. Magginas underlined that the strong recovery that followed the Covid-19 crisis combined with geopolitical developments and the energy crisis led to a rapid increase in inflation, which is expected to slow down in 2023.

Overall, the critical success factors for the ESG integration and transition are to:

  • Define overall ambition, set targets, and communicate Internally and Externally
  • Establish a clear Sustainability Framework to align processes and manage risks

Develop underpinning capabilities

Elisavet Dolopikou

Junior Associate

My name is Elisavet Dolopikou. I am a graduate of the Faculty of Law at the Aristotle University of Thessaloniki (AUTh), a postgraduate student in the LL.M. program in European Business and Economic Law at AUTh, and a trainee lawyer specializing in Commercial Law.

I joined the Get Involved team in September 2025, and since then, I have been an active member of both the Legal and Operations departments. For me, Get Involved is a hub of innovation and interdisciplinarity that provides the ideal environment for developing new skills. The fact that this is an initiative driven by young people with a shared vision for producing meaningful work was my primary motivation for joining.

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Chrisanthi Indouna

Junior Associate

My name is Chrisanthi Indouna, and I am an undergraduate student in the Department of Management Science and Technology at the Athens University of Economics and Business. I joined Get Involved as a Junior Associate in September 2025. I am part of the Operations team, where I contribute, among other tasks, to the organization and coordination of the team’s initiatives. In May 2025, I attended the event “Sustainable Future IV: Beyond Green – Navigating the Future of Sustainability & Innovation”. I acquired valuable insights into sustainable development and its role in contemporary entrepreneurship.
My decision to join Get Involved was driven by my strong interest in youth initiatives and the team’s culture, which encourages creativity, collaboration, and active participation in innovative projects.
For me, Get Involved represents a unique opportunity to expand my knowledge in sustainability and finance. Its youthful spirit and the collaboration among people from different academic backgrounds, united by a shared vision, motivate me to actively engage in projects that have a meaningful impact.

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Evangelia Koutsougera

Junior Associate

I’m a Law student and since May 2025, I’ve been part of the Communications team at Get Involved. I’ve always been an outgoing person who enjoys working with others, so I immediately felt that this role suits me well. I’m really interested in sustainability, mainly because I feel like we’re the first generation truly experiencing the consequences of the environmental crisis. I believe that each of us can contribute to something better, in our own way. Through this team, I hope to learn, grow, and collaborate with people who share the same concerns and vision. I also hope to bring my own perspective and energy to everything we do.

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Konstantina Katsimicha

Junior Associate

My name is Konstantina Katsimicha, and I am an undergraduate student at the Department of Economics of the Athens University of Economics and Business.

In 2024, I participated in the 8th ECB Conference; an experience that significantly deepened my understanding of monetary policy, financial institutions, and the broader economic framework of the Εuro area.

In 2025, I joined Get Involved as a Junior Associate in both the Communications and Social Media Management teams. Through this role, I contribute to the promotion of our initiatives and help manage our online presence, while also developing valuable communication, organizational, and teamwork skills.

What inspired me to become part of Get Involved is the team’s vision and spirit to enhance economic literacy among young people and foster a space where ideas, knowledge, and skills can grow through collaboration. Being surrounded by passionate peers committed to impactful initiatives motivates me to learn, evolve, and contribute actively.

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Fay Panagakis

Junior Associate

My name is Fay Panagakis, and I am an undergraduate student in the Department of Business Administration at the University of Piraeus. Joining Get Involved in February 2025, I am actively contributing to both the Communications and Operations departments.
I was eager to join the organization because of its strong commitment to empowering young people through initiatives that bridge the gap between academic knowledge and today’s challenges. Its focus on financial literacy, sustainable development, and fostering interdisciplinary learning aligns with my aspirations to make a positive societal impact.
Becoming part of this dynamic team offers me an invaluable opportunity to contribute to meaningful projects while growing both personally and professionally. I’m excited about what the future holds alongside like-minded individuals who share a passion for youth empowerment and societal change.

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George Sakkas

Junior Associate

My name is George Sakkas and I am an undergraduate student in the Department of Accounting and Finance at the Athens University of Economics and Business. I joined the organization in March 2025 as a Junior Associate in the Social Media and Scientific teams, contributing to its activities through the perspective of financial literacy and sustainable economic development.

My involvement with Get Involved arose from my deep interest in the role that financial knowledge plays in modern society. My goal is to deepen my understanding of financial issues, enhance my skills in communication and strategic development, and actively contribute to the promotion of economic education.

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Angelina Arfani

Junior Associate

My name is Angelina Arfani, and I am an undergraduate student in the Department of Political Science and International Relations at the University of the Peloponnese. I have joined the Get Involved team as a Junior Associate in the Operations and Communications departments, where I contribute to the efficient coordination of initiatives and assist in enhancing the organization’s outreach and engagement. 

I believe that Get Involved is an innovative initiative driven by individuals committed to creating meaningful change. Being part of this team has provided me with the opportunity to expand my knowledge, develop key skills, and showcase my abilities, all while collaborating with passionate individuals who share a common vision.

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Konstantina Triantafyllopoulou

Junior Associate

My name is Konstantina Triantafyllopoulou, and I am an undergraduate Political Science & Public Administration university student at the National and Kapodistrian University of Athens. Also, I am currently enrolled in the American College of Greece, pursuing a minor in Human Resources Management.

I joined Get Involved in 2025 as a Junior Associate in the communications team, where I help by communicating with external partners and with the promotion of our initiatives. The key factors that motivated me to join were my ambition to engage within the community and broaden both my understanding and skills around finances, communication, entrepreneurship, and youth-led projects.

Being an active member of Get Involved highlights my keen enthusiasm for promoting financial literacy, actively engaging with the youth community, and embracing the core values of this team.

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Pavlos Tsiokas

Senior Associate

As a participant of the 1st ECB Simulation Conference, I had the opportunity to familiarize myself with concepts related to Central Banks, their objectives, and the exercise of monetary policy.
The reason I decided to join the Get Involved team stemmed from the fact that I strive for learning, especially in areas concerning economic literacy. I was drawn to the opportunity to collaborate with like-minded individuals who share our shared culture and values.
As a new addition to the team, I am involved in drafting the Economic Term of the Week, which enjoys considerable success on Get Involved’s social media platforms. Furthermore, I am part of the team responsible for compiling the Study Guide, the pivotal manual for every delegate participating in the European Central Bank Simulation Conference.

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Lila Kartali

Senior Associate

My name is Lila Kartali and I am an undergraduate student in the Department of International and European Studies at the University of Piraeus. I joined the team in February 2024, and since then I have happily been part of the Corporate Communications, Social Media, External Opportunities, and Scientific team. The diversity of the topics I deal with in each department, as well as the collaboration and interaction with ambitious people, are a pleasant challenge for me.

For me, Get Involved is an opportunity to develop various skills and strengthen my knowledge background on sustainability and monetary policy issues. Moreover, the fact that it is a youth initiative, by people from different scientific fields collaborating for a common goal, is the reason why I want to be part of it.

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Iasonas Pavlakis

Senior Associate

As an active member of Get Involved’s Associates, I am part of engaging and continuously evolving projects centered on strengthening financial literacy among young people in Greece and Europe. Moreover, by combining my studies in computer science, I am an integral part of Get Involved’s ongoing digital transformation journey.

My contributions to Get Involved reflect my commitment to supporting its ultimate goal of social contribution and raising awareness of financial literacy issues among youth.

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Maria Anastasopoulou

Senior Associate

My name is Maria Anastasopoulou and I am an undergraduate student at the Law School of the National and Kapodistrian University of Athens. My participation in Get Involved started in 2023, whereas now I am an Associate and a member of the Legal Team, where I help handle the group’s legal issues, prepare legal educational materials and represent the group in the ECB Simulation Conference. Additionally, I participate in the stream for Student and Youth Organizations, where I develop my communication skills by interacting with external partners and other youth initiatives. I am also a member of the Scientific Team and contribute to the structuring of the group’s studies, such as the “ESG & Sustainability Youth Perspectives”, while simultaneously developing my research and writing skills.

The drive behind my involvement with the team is the exceptional academic and research level of my colleagues and the passion for the field. The shared values of mutual respect, the desire for progress and innovation, and continuous new’ goal setting, motivate me to contribute and join in a common evolutionary path.

I am particularly grateful for my participation in Get Involved, as it provides me the opportunity to significantly broaden my economic and legal knowledge, delve further into areas of interest and collaborate with some of the most active and accomplished young people, from whom I learn daily.

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Apostolos Karasakalidis

Scientic Associate

Apostolos Karasakalidis has graduated from the Law School of the Aristotle University of Thessaloniki, is a certified Data Protection Officer (DPO), and works as a trainee lawyer in Thessaloniki having developed a special interest in Commercial Law.

He is an Associate at Get Involved since the summer of 2022 and a member of the legal team. He has participated in the writing and updating of the Study Guide for the 7th Simulation of the European Central Bank in which he also participated as a Central Banker. In addition, he oversees Get Involved’s compliance with the General Data Protection Regulation (GDPR) and the protection of its intellectual property.

Apostolos participates in Get Involved because he believes in the added value of cooperation among young scientists from different academic backgrounds. Furthermore, he is interested in the green transition of the EU economy and supports financial literacy’s expansion to young people.

“Opportunities don’t happen, you create them.” — Chris Grosser

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Vasiliki Koukoula

Senior Associate

I joined Get Involved in 2019, I have progressed to the role of Senior Associate, and I currently am a member of the Legal Team. My participation in the team has provided me with valuable opportunities, and experiences, and it has given me the chance to work with numerous active youths. I have taken part in various initiatives, such as the ECB Simulation Conferences, and have had multiple responsibilities, including developing educational materials and participating in the communications team. I appreciate Get Involved’s commitment to fostering a collaborative environment that empowers young university students and professionals.

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Thanasis Dogramatzidis

Scientific Associate

Thanasis Dogramatzidis is an executive in the Financial Assets Management department at the Central Bank of Malta. Previously, he worked as a trader at the National Bank of Greece.

He holds an MSc in International and European Governance and Politics from the National and Kapodistrian University of Athens an MSc in Finance and Banking, and a BSc in Statistics, both from the Athens University of Economics and Business.

In 2024, Thanasis became a Scientific Associate at Get Involved, driven by his belief in the need to advance economic literacy and highlight contemporary economic issues, especially within the realm of monetary policy.

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Panteleimon K. Karamalis

Scientific Associate

Panteleimon Karamalis is a PhD Fellow at the UCD School of Economics in Ireland. He holds a MSc in Healthcare Administration from National School of Public Health in Athens (2018), a MSc in Banking and Financial Management from University of Piraeus (2017) and a BSc in Business Administration from Technological Educational Institute of Athens (2014). His research interests lie mainly in Monetary and Fiscal Policy, Banking, Wealth Inequality, and Health Economics. Since 2018 he has been a Teaching Assistant in Macroeconomics, Financial Economics, International Banking, and Econometrics at the UCD School of Economics.

He joined Get Involved because of their common belief about both the necessity of financial literacy in all students regardless of academic background, and the importance of scientific research by students and researchers who want to focus on specific research topics of economic science. All projects run by Get Involved, such as the ECB Simulation Conference and the scientific journal ‘Future Economic lab Journal’, orient themselves to the completion of these goals.

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Antonis Ballis

Scientific Associate

Antonis Ballis holds a Doctoral degree in Finance (2021) from Athens University of Economics and Business, a specialized Master’s degree in Applied Economics and Data Analysis (2016) from the University of Patras (2016), and a Bachelor’s degree in Economics (2014) from Athens University of Economics and Business. In 2018 he was awarded full funding for his doctoral research on cryptocurrencies, from the Greek State Scholarships Foundation (IKY). His main research areas are Cryptocurrency/DEFI Economics, Behavioral Finance, and Financial Technology (FinTech).

“Success consists of going from failure to failure without loss of enthusiasm.” – Winston Churchill

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Maria Triantafyllopoulou

Vice President

I joined Get Involved in April 2021, and since May 2023 I have been Vice President. My main responsibilities include coordinating the legal team and communications with our stakeholders. Moreover, I participate in the formulation and implementation of the organisation’s strategy.

My involvement in Get Involved and my interaction with its multi-faceted people reflects my commitment to developing initiatives that motivate young people to actively engage with economic science and remain active citizens at all times.

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Stavros Vletsos

Vice President

I joined Get Involved in 2020 and I serve as a vice-president in 2022. My responsibilities include participating in the decision-making process and implementing the organisation’s strategy.

I am grateful to be part of Get Involved and contribute to connecting institutions, academia and the market with young people, spreading financial education and sustainable development through experiential learning and interdisciplinarity.

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Petros Dimitropoulos

Vice President

I’ve been part of Get Involved since April 2020 and one of the Vice Presidents since 2022. My main responsibilities include managing corporate communications as well as designing and implementing the organization’s strategy.
My participation in Get Involved reflects my commitment to empowering the voices of young people and promoting active dialogue between the market, the academic community, institutions, and youth, with the aim of advancing financial education, interdisciplinarity, and sustainable development.

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Anthony Efstathiadis

Co-Founder

I am one of the co-founders of Get Involved with which I have participated in the planning and implementation of numerous initiatives that have impacted more than 3,000 university students and graduates. My role entails the coordination of the overall organization, the project management of our various and diverse initiatives, and the strategy formulation.

My work in Get Involved reflects my commitment to have an active role in empowering the youth, their “voices” and to strive to nurture a positive culture where young people can develop to their full potential.

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Vasilis Angelopoulos

Co-Founder

As the co-founder of Get Involved, I lead an initiative that has influenced over 3,500 university students, empowering them through opportunities that bridge the gap between academic education and real-world challenges. The initiatives of Get Involved have garnered recognition from important organizations such as the Hellenic Bank Association, the Bank of Greece, the European Central Bank (ECB), and the corporate community in Greece, validating our efforts to foster a culture of social responsibility and professional excellence among the youth.

Our work at Get Involved is a reflection of my commitment to driving societal change and creating an active path of dialogue amongst university students, academia, institutions, and companies.

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