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20: Rating Agencies Between Governments and Businesses

german language

Supported by the Federation of Austrian Industries
The reputation of rating agencies has suffered severely from the financial crisis. While
states and investors used to trust in their advice almost blindly, stricter regulations are being called for. While considerations to establish a European rating agency exist, the oligopoly of the “Big Three” has not been broken – private and insti-
tutional investors still depend on their ratings. What should be done about the
dependence of businesses and states on these ratings? Which changes can be expected from new provisions adopted by the EU? How important do external ratings remain after the crisis?

Professor of Economics, Institute of Economics, University of St.Gallen
Managing Director and Regional Head of Northern Europe, Standard & Poor's Credit Market Services Europe Ltd., Frankfurt
Director, Agenda Austria, Vienna
Director-General, Economic Policy and Financial Markets, Federal Ministry of Finance of the Republic of Austria, Vienna
Editor in Chief, NEWS GmbH, Vienna Chair

Dipl.-Kfm. Torsten HINRICHS

Managing Director and Regional Head of Northern Europe, Standard & Poor's Credit Market Services Europe Ltd., Frankfurt

Westdeutsche Landesbank, Düsseldorf, New York, London, Hong Kong, u.a. in den Bereichen Neuemissionen, Kapitalmarkt, Global Derivatives, Fixed Income, Treasury


Director, Agenda Austria, Vienna

Bankausbildung in der Creditanstalt Bankverein Studium der Handelswissenschaften, WU Wirtschaftsuniversität Wien Wirtschaftsredaktion, "Die Presse", Wien Leiter der Wirtschaftsredaktion, "Die Presse", Wien Stellvertretender Chefredakteur, "Die Presse", Wien

Mag. Harald WAIGLEIN

Director-General, Economic Policy and Financial Markets, Federal Ministry of Finance of the Republic of Austria, Vienna

ORF - Austrian Broadcasting Corporation, Vienna Austrian daily Wiener Zeitung, Vienna


Editor in Chief, NEWS GmbH, Vienna

Contemporary history and philosophy (Lettere e Filosofia), Bologna Business editor, daily newspaper "Dolomiten", Bozen Traineeship, Italys first financial newspaper "Il sole 24ore", Milan Deputy head of department of economics, "Dolomiten", Bozen Collaboration with public radio "RAI", presentation of "Pressespiegel" Financial reporter, n-tv Business editor, Der Standard, Vienna Freelance journalist for profil, trend, DM Euro Public Relations Adviser, Scholdan & Company Editor in Chief of Finance, Business People; Deputy editor in Chief, medianet Chief Reporter, WirtschaftsBlatt Head of Department Companies & Markets and Chief Editorship, WirtschaftsBlatt Editor in Chief, WirtschaftsBlatt Chief Editorship and Head of Business department, "News", Vienna
since 2015

Economic Symposium

show timetable


12:00 - 12:20OpeningPlenary
12:20 - 13:30Finance and the Real Economy: Together or Apart?Plenary
13:30 - 13:50Political CornerPlenary
14:50 - 16:30Making Finance Meet the Real Economy’s RequirementsPlenary
18:30 - 19:30Miha Pogacnik: What Businesses can Learn from MusicPlenary
19:30 - 20:30Smart Blue Hour hosted by IBMSocial


06:00 - 06:45management club Business Breakfast “Integrationsfall Europa”Partner
06:00 - 06:45Sustainable Entrepreneurship – Book Presentation on the Business Model of the FuturePartner
07:00 - 08:10The Future of Corporate FundingPlenary
08:10 - 08:30Political CornerPlenary
09:00 - 11:30Working Group 01: The Real Economy and Finance in the “Network of Responsibility”Breakout
09:00 - 11:30Working Group 02: Business, Society and Politics: Assigning Responsibility for ResultsBreakout
09:00 - 11:30Working Group 03: What Happens to Our Values if Computers Learn how to Think?Breakout
09:00 - 11:30Working Group 04: Touch the Future – Security and Identity in a Digital WorldBreakout
09:00 - 11:30Working Group 05: Living with Risk and SpeculationBreakout
09:00 - 11:30Working Group 06: The Pension System as a Ponzi Scheme?Breakout
09:00 - 11:30Working Group 07: Workforce Diversity: Living with and Managing Demographic ChangeBreakout
09:00 - 11:30Working Group 08: Implementing the New World of Work, a Progress ReportBreakout
09:00 - 11:30Working Group 09: Design Thinking as a Tool for InnovationBreakout
09:00 - 11:30Working Group 10: New Energies for Europe – Between Cooperation and CompetitionBreakout
11:30 - 12:30Lunch ReceptionSocial
12:30 - 15:00Working Group 11: Connected Learning, Connected SchoolsBreakout
12:30 - 15:00Working Group 12: Financial Literacy, Decision-Making in Complex SituationsBreakout
12:30 - 15:00Working Group 13: Our Life After the Digital RevolutionBreakout
12:30 - 15:00Working Group 14: Prosperity for All? Austria’s Top Managers in Dialogue with Ludwig ErhardBreakout
12:30 - 15:00Working Group 15: Rethinking Capitalism: The Future of Our Economic ModelBreakout
12:30 - 15:00Working Group 16: Alternative Sustainable Economic ConceptsBreakout
12:30 - 15:00Working Group 17: From Goodwill to Financial Company ValueBreakout
12:30 - 15:00Working Group 18: Back to the Real Economy – Towards a New Industrial Policy for EuropeBreakout
12:30 - 15:00Working Group 19: Industrial Production in the City of the FutureBreakout
12:30 - 15:00Working Group 20: Rating Agencies Between Governments and BusinessesBreakout
16:00 - 17:30Peter Drucker Special Lecture: Leadership and Values in a Complex WorldPlenary
19:30 - 21:30get2gether hosted by T-MobileSocial


06:30 - 07:00“Kater” BreakfastPartner
07:15 - 08:15The New Role of Central Banks in Crisis-ManagementPlenary
08:45 - 10:20New Growth in Europe?Plenary
10:20 - 10:30ClosingPlenary
14:45 - 18:00Generali 3 Banken Business Dialogue “Experiences and Values”Partner