You are kindly invited to attend a conference on "The Future of Sovereign Borrowing in Europe" organised jointly by the European Money and Finance Forum (SUERF), the Austrian National Bank and the Austrian Association for Bank Research (BWG), which will be held on March 8, 2013 in Vienna, Austria.
The financial, economic and sovereign debt crisis has fundamentally changed the rules of the game in sovereign debt markets, particularly but not only in the Euro Area. While some countries enjoy a safe‑haven status, other face soaring risk spreads. Sovereign rates of crisis countries have been downgraded dramatically, but also safe-haven countries' prime rating has been lost or is under close scrutiny.
Sovereign bonds as a broad category have lost their – previously widely perceived – status as "risk-free" assets. The crisis countries face unsustainably expensive financing costs (or even a loss of access to bond market financing), pushing them towards shorter financing or forcing them to rely on financial support by other countries and the international community or massive intervention by central banks.
Conference Speakers / Sessions
The conference will be opened by Governor Ewald Nowotny (Oesterreichische Nationalbank) followed by a keynote address. Thereafter three sessions will focus on:
- European sovereign borrowing – adjusting to the new environment
- Sovereign debt, monetary and financial stability
- Towards more prudent sovereign borrowing
- Ulrich Bindseil (European Central Bank)
- Maria Cannata Bonfrate (Italian Treasury)
- Martin Hellwig (Max Planck Institute for Research on Collective Goods)
- Juha Kilponen (Bank of Finland)
- Eric Leeper (Indiana University)
- Yuefen Li (UNCTAD)
- Christopher Marks (BNP Paribas)
- Alessandro Missale (University of Milan and UNCTAD)
- Ewald Nowotny (Oesterreichische Nationalbank)
Mark LJ Wright (UCLA)