After years of very low interest rates, debt servicing has risen sharply in many countries. According to the World Bank, the interest service of the poorest 80 countries alone has quadrupled since 2019. Countries that are indebted in foreign currency are specially in trouble. However, budgetary flexibility has also decreased in Europe. At the same time, climate policy requires massive public investment.
What reform measures are needed for international politics? Is the EU now well prepared with the reform of its own debt rules under the Stability and Growth Pact? What is the situation in poorer countries? What role do multilateral institutions and bodies still play in view of China's new role as a global lender?
The high-caliber panel will attempt to conceptualize the various problems and to offer answers to these pressing questions.
Panelists
Agnès Bénassy-Quéré
Martin Kocher
Moritz Schularick
Claudia Steinwender
Program
| 17:30 CEST |
Welcome remarks Robert Holzmann Governor
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| 17:45 CEST |
Panel discussion Agnès Bénassy-Quéré Second Deputy Governor Banque de France
Martin Kocher Austrian Federal Minister Ministry of Labour and Economy
Moritz Schularick President Kiel Institute for the World Economy
Claudia Steinwender Professor Ludwig-Maximilians-University Munich
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Moderation: Gabriel Felbermayr Director WIFO Austrian Institute of Economic Research
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| 19:00 CEST |
End of panel discussion and informal get-together |