SUBNATIONAL PUBLIC DEBT IN A FISCALLY SUSTAINABLE EUROPE

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1 SUBNATIONAL PUBLIC DEBT IN A FISCALLY SUSTAINABLE EUROPE Workshop September 2014 Garden Hall, Esterházy Palace, Eisenstadt, Austria Program might be subject to change

2 Wednesday, September 24 th, :00-20:30 Ewald Nowotny Pre-Diner Speech: Subnational Public Debt in Europe 20:45 Dinner, Henrici Restaurant, Eisenstadt Thursday, September 25 th, :00 9:40 Subnational Public Debt Perspectives of Research Chair: Gisela Färber: Objects, relevance, goals of the workshop Keynote: Thomas Wobben: Perspectives and main questions of the Council of Regions 9:45 11:15 Subnational Public Debt - Approaching the Issue statistics/amount/volume/forms/quality/utilisation of debt/ inter-regional divergences in one nation state/various forms of public debt ( shadow debt ) Chair: Alice Valdesalici Keynote: Ehtisham Ahmad 11:30 13:00 Institutional and Legal Framework of Subnational Debt in Europe legal rules, institutional design (who does what, control), historical perspective Chair: Nadia Yerly Keynote: Eva Maria Belser 13:00-14:30 Lunch, Henrici Restaurant 14:30 15:45 The Influence of Multi-level Governance on Subnational Public debt subnational debt as a result of deficiencies of multi-level governance (intra federal context), extra regional factors for regional debt, equalisation systems, local (municipal) debt as coincidence of subnational public debt, tax autonomy, regional economic performance and development, etc. Chair: Mario Kölling Keynote: Giancarlo Pola 15:45-16:15 Coffee Break, Café Maskaron 16:15-18:00 Capital Markets and Subnational Public Debt - influence, conflicts of interests rating systems for subnational entities (example Switzerland), influence of financial crisis/ uro debt-crisis on subnational level and borrowing conditions and interest rates, protective effects of bail out regimes, potential role of control by markets (liability rules?) vs. proper interests of banking system etc End of Day 1 Chair: Stefan August Lütgenau Keynote: Friedrich Schneider 19:30 Dinner, Burgenland Style Dinner, Heurigen Zwillingsstüberl Family Johann Hahnekamp, St. Georgener Hauptstraße 33, Eisenstadt

3 Friday, September 26 th, :00 10:30 Ways out of Excessive Subnational Public Debt New European regulations, funds for debt relief, new regimes of supervision, financial hair cuts, sanctions, secession as exit strategy, debt as driver/function for secession, debt as a driver for reforms, federalism and debt management, The European financial stability and subnational public debt Chair: Thomas Wobben or Georg Milbradt Keynote: Gisela Färber 10:45 12:30 Round-up and Future Cooperation European research network, partners from other European countries, chances of funding (part. COST program), planning for the future, next workshop in February 2015? 12:30 End of the conference - *The programme might be subject to change.

4 Participants 1. Ehtisham Ahmad, IMF, London School of Economics, England, 2. Eva Maria Belser, University of Fribourg, Switzerland, 3. Gisela Färber, Deutsches Forschungsinstitut für öffentliche Verwaltung Speyer, Germany, 4. Bernhard Grossmann, Fiscal Advisory Council, Oesterreichische Nationalbank, Austria, 5. Ana Herrero Alcalde, Universidad Nacional de Educación a Distancia, Spain, aherrero@cee.uned.es 6. Mario Kölling, Fundación Manuel Giménez Abad, Zaragosa, Spain, Mario.Koelling@cepc.es 7. Dominique Köppen, Deutsches Forschungsinstitut für öffentliche Verwaltung Speyer, Germany, dominique.koeppen@googl .com> 8., Austria, luetgenau@foster-europe.org 9. Georg Milbradt, Forum of Federations, Germany, milbradt@t-online.de 10. Ewald Nowotny, Austrian Central Bank, Austria, 11. Stefan Ottrubay, Esterházy Supervisory Board, Austria 12. Giancarlo Pola, Eupolis Lombardia, Italy, Giancarlo.Pola@eupolislombardia.it 13. Alfred Reichl, Boardmember Foster Europe Foundation, Austria 14. Friedrich Schneider, Johannes Kepler University of Linz Department of Economics, Austria, friedrich.schneider@jku.at 15. Niklas Sonntag, Institut für Föderalismus, Austria, niklas.sonntag@foederalismus.at 16. Alice Valdesalici, EURAC, Bolzano, Italy, alice.valdesalici@eurac.edu 17. Annamaria Viziková, Audit Court, Slovakia, annamariavizikova@hotmail.com 18. Thomas Wobben, Committee of the Regions, Belgium, thomas.wobben@cor.europa.eu 19. Nadia Yerly, Federal Office for Agriculture FOAG, Switzerland, nadia.yerly@unifr.ch

5 SUBNATIONAL PUBLIC DEBT IN A FISCALLY SUSTAINABLE EUROPE Garden Hall, Esterházy Palace, Eisenstadt, Austria

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Subnational Public Debt in Europe Subnational Public Debt in a Fiscally Sustainable Europe September 24 to 26, 2014, Eisenstadt

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