Siim Kallas has played a central role in building up the Estonian economy by initiating the monetary reform. He has served as the Prime Minister, Minister of Finance and Minister of Foreign Affairs of the Republic of Estonia and the Governor of the Bank of Estonia. Since 2004 Mr Kallas has been the Vice-President of the European Commission.

In his presentation, Mr Kallas analyses the role of the market economy in today’s world – does market economy as an economic model belong in the past or in the future; what is the role of the state in market economy and how do concepts such as justice, security, ethics, and fair competition associate with the market economy.