European Parliament & UBI Business School
We started off our morning at the European Parliament, representing citizens from the EU member states. Inside, we explored the Parlamentarium which displays European integration and its impact on our everyday lives. We used self-guided devices at the Parlamentarium that took us through the history of the European Parliament, detailing the path to European cooperation, how the Parliament functions, and what its Members are doing to tackle today's challenges. I learned a lot about the Parliament's workings, the law-making process, and the significance of European politics. The experience was both engaging and informative through photos and audio recordings scanned by the self-guided device.
At the end of the self-guided tour, I enjoyed getting to read what other visitors had to say about what path they wanted the EU to take. I saw some people say that they wanted cheaper or free transportation, and others said they wanted union and democracy. The Parlamentarium offers a rich, inclusive experience, deepening visitors’ appreciation of European integration and the Parliament's work. The EU has significantly impacted the daily lives of people for many years, and I think it will continue to shape the world.
In the afternoon, we visited UBI Business School in Brussels and met Randy Priem, a finance professor with extensive experience including roles at the FSMA, various European committees, and as a guest professor at multiple universities. He has published extensively in international economic and law journals. Randy discussed the EU supervisory architecture, the available data, and the impact of COVID-19 on European financial markets. He focused on the EU's macro-prudential and micro-prudential supervision, including the roles of the European Systemic Risk Board and European Supervisory Authorities. We learned about various regulations like MiFIR, EMIR, and SFTR, which ensure transparency and reporting in financial markets. He mentioned that we could check the transparency of the information on the ESMA website.
Randy also shared how the pandemic influenced Belgian retail investors, especially younger ones, who increased their equity positions during the crisis. It made me think about the changing nature of financial markets and how crises can drive significant behavioral shifts. This experience provided a comprehensive understanding of the European financial system's complexities and how the pandemic has reshaped investor behavior and market dynamics. I felt inspired to delve deeper into financial studies and consider how these regulations and trends might influence my future career.
