IGTA Journal - Winter 2020/2021

IGTA e-Journal Issue Winter 2020/2021 February 27, 2021 Table of Contents .............. page 2-4 Letter of the Editor …………… ... ………………………………………..… .. ……… ...page 5 Euro Area, Speech: The sovereign-bank-corporate nexus – virtuous or vicious ? By Isabel Schnabel, Member of the executive board of the ECB, at the LSE conference on “ Financial Cycles, Risk, Macroeconomic Causes and Consequences ” , Frankfurt am Main, 28 January 2021, from BIS, central bankers´ speeches ……………………………………………………….…...… ..page 6-18 Germany, Interview: “ Our Focus is clearly on organic growth” Melanie Kreis, CFO of Deutsche Post DHL, about the effects of the Corona crisis on the Group, the future of the online commerce, and the transport of wedding cloths. The interview is not addressing developments after December 12, 2020 . from the Börsen-Zeitung, Frankfurt am Main, Germany, December 12, 2020, article provided by GEFIU, Association of Chief Financial Officers Germany, the German IGTA Member Association ……………………………………………………………… page 19-26 Luxemburg, Article: How Should Treasurers Rethink Their FX Management ? By Francois Masquelier, Chairman of ATEL, the Luxemburg IGTA Member Association, and Deputy Chairman of EACT, European Association of Corporate Treasurers, from Simply TREASURY – Luxembourg, February 2021 …………………………………………………………...... page 27-29 Please turn over IGTA eJournal | Winter 2020/21 | 2