Vienna - May 20th

Enough is enough - consolidation of public budgets a priority

The disastrous consequences of pushing public debt too far!

Venue:                         Kleiner Festsaal, Universität Wien

This year we want to focus on the role of the state: what do we expect from the state? What preconditions need to be fulfilled? Accountability of the state? What if Greece goes bankrupt? Morals and markets; trust in markets and confidence as factors responsible for economic growth? Social responsibility – economics is not enough.

How does the state finance its debts? Where is there room for reform? Government issued bonds are no longer viewed as being without risk. Is there too much borrowing? Will the market for government bonds and other debt instruments become over-saturated with the continual new issues? Who will buy these securities at that point? Will governments be able to pay off this debt, and will people believe that they can? What are the most effective ways of reforming or controlling the level of public debt?

Break:                          16:50 - 17:10 (Coffee/Snacks and Networking)

Solutions to the need of financing “public” tasks. Technical questions and successful reform solutions. Does the problem lie mainly in the methods of spending or the methods of revenue collection? How can a government balance their budgets, thereby reducing debt levels? Is the current financial crisis an excuse for deficit spending? What are some possible reforms to the tax system, such as a flat tax? What targets of spending can be reformed, such as pension programs or health care? Discussion on several possible reform solutions.

Closing

Remarks:                     18:10 - 18:20    (followed by drinks)

Cocktail:                      18:30 - 19:30