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Finanz- und Realwirtschaft: Miteinander oder gegeneinander?

Plenary / Debate
German and English language

Haben sich Teile der Finanzwirtschaft verselbständigt und die Bedürfnisse der Realwirtschaft vernachlässigt? Welche Rolle spielen dabei Regulierungsfehler und exzessive Staatsverschuldung? Wie kann eine Wiederholung einer solchen krisenhaften Entwicklung in Zukunft vermieden werden?


Founder and Chief Executive Officer, Beyond Global, LLC, New York Abstract
Global growth has been weak and real economies remain fragile while stock markets have been rallying. This disconnect reflects the dichotomy between economic fundamentals and market speculation. Financial institutions have fueled speculation by engineering opaque financial instruments and employing massive leverage. Central banks have exacerbated this speculation and, by creating excess liquidity, potential bubbles. In addition, these policy measures have distorted fundamentals and market price mechanisms. In contrast, participants in the real economy have become more risk-averse due to uncertainty and the lack of confidence. The economy has become less dynamic as companies are abstaining from investments and individuals are shying away from entrepreneurial risks. More fundamentally, the underlying issue is the increasing wealth gap, which has been forming over the past 40 years. In the course of globalization, more power has been concentrated in the hands of ever fewer institutions and individuals. Meanwhile, pressing issues like low-growth, record unemployment and unfavorable demographics remain unresolved. We have borrowed wealth from the future and pay-day has arrived. Will we be able to tackle these problems, and if so, how?
Secretary General, Finance Watch, Brussels Abstract
When we take a look at banks' balance sheets and macro figures about the European economy, it becomes quite apparent that large parts of the financial sector have become disconnected from the real economy: banks' balance sheets have grown much faster than the EU GDP over the past decade and the largest banks use less than a third of their balance sheet to serve non-financial corporations and households.
The problem is compounded by the fact that banks are not fully exposed to market forces: ultimately, taxpayers pay for the risks taken by institutions that are too big too fail, weakening public finances in the process. This was the case in 2008, and it still is today. The solution to this problem is threefold: making banks more resilient by requiring higher capital buffers and lower leverage, splitting essential activities that serve the real economy from purely financial activities, making sure in case of losses that when shareholders have been wiped out the losses are absorbed by creditors and not by tax payers.
Editor-in-Chief, Die Presse, Vienna Chair


Founder and Chief Executive Officer, Beyond Global, LLC, New York

 Law degree, University of Cologne School of Law, Germany
 Master-of-Law in Banking Corporate and Finance law, Fordham University School of Law, USA
1999-2001 Manager, International Capital Markets Department, Deloitte & Touche
2001-2006 General Counsel, Muzinich & Company
2006-2008 Investment Banking, Scarsdale Equities, LLC
2009-2011 Director of Research Strategies, Roubini Global Economics, LLC
since 2011 Founder and Chief Executive Officer, BeyondGlobal, LLC


Secretary General, Finance Watch, Brussels

1990-1994 Founding Partner, Exane stock brokers, Paris
1994-1997 Executive Director, UBS Ltd., London
2001-2004 Deputy Head of Equity Financing Structuring, BNP Paribas, Paris
2004-2006 Group Director and Head of Paris Strategic Business Unit, Member of Executive committee, Euronext, Paris and London
2006-2010 Business and Human Rights Campaigner, Member of Executive Board, Amnesty International France, Paris
2010-2011 Project Leader, Finance Watch project, Brussels
since 2011 Secretary General, Finance Watch, Brussels

Rainer NOWAK

Editor-in-Chief, Die Presse, Vienna

1992-1997 Study of History and Political Science (without completing)
1994 Freelancer "Vorarlberger Nachrichten"
1996 Entry to "Die Presse"
2002 Editor, Domestic Policy Department, "Die Presse", Vienna
2004 Appointment to Department head "Chronik/Wien", "Die Presse", Vienna
2009 Appointment to Editorial Director for the new "Presse am Sonntag", Vienna
2010 Appointment to Head of Domestic Policy, "Die Presse", Vienna
since 2012 Editor-in-Chief, "Die Presse", Vienna
since 2014 Publisher, "Die Presse", Vienna
2017 Appointment as Managing Director, "Die Presse", Vienna


Timetable einblenden


14:00 - 14:20EröffnungPlenary
14:20 - 15:30Finanz- und Realwirtschaft: Miteinander oder gegeneinander?Plenary
15:30 - 15:50Polit-TalkPlenary
16:50 - 18:30Welche Finanzwirtschaft braucht die Realwirtschaft?Plenary
20:30 - 21:30Miha Pogacnik: Was die Musik die Wirtschaft lehren kannPlenary
21:30 - 22:30Smart Blue Hour hosted by IBMSocial


08:00 - 08:4513. mc-Europafrühstück "Integrationsfall Europa"Partner
08:00 - 08:45Sustainable Entrepreneurship - Buchpräsentation zum Geschäftsmodell der ZukunftPartner
09:00 - 10:10Zukunft der UnternehmensfinanzierungPlenary
10:10 - 10:30Polit-TalkPlenary
11:00 - 13:30Arbeitskreis 01: Real- und Finanzwirtschaft im "Netzwerk der Verantwortung"Breakout
11:00 - 13:30Arbeitskreis 02: Zuletzt wird abgerechnet: Das Prinzip Ergebnisverantwortung in Wirtschaft, Gesellschaft und PolitikBreakout
11:00 - 13:30Arbeitskreis 03: Wo bleiben die Werte, wenn Computer denken lernen?Breakout
11:00 - 13:30Arbeitskreis 04: Touch the Future - Sicherheit und Identität in der digitalen WeltBreakout
11:00 - 13:30Arbeitskreis 05: Risiko oder Vollkasko? Unser Leben mit der SpekulationBreakout
11:00 - 13:30Arbeitskreis 06: Das Pensionssystem als Pyramidenspiel?Breakout
11:00 - 13:30Arbeitskreis 07: Vielfalt in der Belegschaft: Demografische Veränderungen aktiv managen und lebenBreakout
11:00 - 13:30Arbeitskreis 08: Implementierung der neuen Welt der Arbeit, ein ErfahrungsberichtBreakout
11:00 - 13:30Arbeitskreis 09: Design Thinking als Werkzeug für InnovationBreakout
11:00 - 13:30Arbeitskreis 10: Neue Energien für Europa - zwischen Kooperation und WettbewerbBreakout
13:30 - 14:30Lunch ReceptionSocial
14:30 - 17:00Arbeitskreis 11: Vernetztes Lernen, vernetzte SchuleBreakout
14:30 - 17:00Arbeitskreis 12: Financial Literacy, Orientieren und Entscheiden in unüberschaubaren SituationenBreakout
14:30 - 17:00Arbeitskreis 13: Digitale Revolution - unser Leben danach?Breakout
14:30 - 17:00Arbeitskreis 14: Wohlstand für Alle? Österreichs Top-Manager im Diskurs mit Ludwig ErhardBreakout
14:30 - 17:00Arbeitskreis 15: Unser Wirtschaftsmodell neu denkenBreakout
14:30 - 17:00Arbeitskreis 16: Alternative nachhaltige WirtschaftskonzepteBreakout
14:30 - 17:00Arbeitskreis 17: Vom ideellen zum materiellen UnternehmenswertBreakout
14:30 - 17:00Arbeitskreis 18: Zurück zur Realwirtschaft - Industriepolitik neu für EuropaBreakout
14:30 - 17:00Arbeitskreis 19: Industrielle Produktion in der Stadt der ZukunftBreakout
14:30 - 17:00Arbeitskreis 20: Ratingagenturen im Spannungsfeld von Regierungen und UnternehmenBreakout
18:00 - 19:30Peter Drucker Special Lecture: Führen und Werte in einer komplexen WeltPlenary
21:30 - 23:30get2gether hosted by T-MobileSocial


08:30 - 09:00Katerfrühstück in AlpbachPartner
09:15 - 10:15Neue Rolle der Notenbanken in der KrisenbewältigungPlenary
10:45 - 12:20Neues Wachstum in Europa?Plenary
12:20 - 12:30SchlusswortePlenary
16:45 - 20:00Generali 3 Banken Wirtschaftsdialog "Erfahrungen und Werte"Partner