10TH MUNICH ECONOMIC SUMMIT
Europe at a Crossroads: The Role of the State in a Globalised World
19 May - 20 May 2011
The financial and economic crises have thrown all certainties about the role of the state in both society and the economy into doubt.
From state-heavy approaches through dirigisme to the social market economy, which model makes countries — or economic regions such as the EU — fitter for the future?
PROGRAMME
Thursday, 19 May 2011
12.00 pm
Luncheon
by Invitation of the City of Munich, Atrium
Welcome Address
Dieter Reiter
Councillor, Head of the Labour and Economic Development Department , City of Munich
1.30 pm
Opening of the Conference
Welcome
Jürgen Chrobog
Chairman of the Board of Directors, BMW Stiftung Herbert Quandt, Berlin and Munich
Introduction
Hans-Werner Sinn
Professor of Economics and Public Finance, University of Munich; President, Ifo Institute, Munich
2.00 PM
Panel 1
System Comparisons: How Competitive is the Social Market Economy?
Some state-heavy economies like China, Singapore, Taiwan, and South Korea appear to have weathered the recession rather well, while some free-market ones, such as the UK and the US, are still reeling. On the other hand, other dirigiste economies, notably Russia, Dubai and France, remain sluggish, while free-market ones such as Australia, Canada and Brazil are buoyant. Germany’s social-market, export-oriented model, in turn, seems to have secured a fairly strong rebound with even lower unemployment than before the crisis. The Nordic economic model has also proven its stability in times of global crisis. What conclusions can be derived? Which system would make Europe more competitive, and more resilient?
Keynote Address
Anders Borg
Minister for Finance, Kingdom of Sweden
Chairman
Anatole Kaletsky
Editor-at-Large and Chief Economics Commentator, The Times, London
Introduction
Peter Birch Sørensen
Assistant Governor and Chief Economist, Danish Central Bank, Copenhagen
Speakers
Georg Fahrenschon
Bavarian State Minister of Finance
Martin Wolf
Associate Editor and Chief Economics Commentator, Financial Times, London
Michael Hüther
Director and Member, Executive Board, Cologne Institute for Economic Research
Neo Boon Siong
Strategy Professor and former Dean, Nanyang Business School, Nanyang Technological University, Singapore
Discussion
7 PM
Dinner at the Munich Residence
by Invitation of the Bavarian Minister-President
Reception, Vierschimmelsaal
7.30 PM
2010 BMW Foundation Young Leaders Awards Ceremony, Vierschimmelsaal
Presentation Speech
Stefan Quandt
Deputy Chairman of the Supervisory Board, BMW Group; Member of the Board of Trustees, BMW Stiftung Herbert Quandt, Berlin and Munich
7.45 PM
Festive Dinner, Kaisersaal
Welcome
Martin Zeil
Bavarian State Minister of Economic Affairs, Infrastructure, Transport and Technology and Deputy Minister-President
PROGRAMME
Friday, 20 May 2011
9.00 AM
Panel 2
The Role of the State in Society: Government vs. Citizen Responsibility
Pension and health-care entitlements are imposing a growing burden on the coffers of most states. In a few decades, they will make the size of the latest rescue packages seem trifling by comparison. What can the state nowadays actually afford to provide, in times of high public debt, ageing populations and globalised labour? Should the citizens be coaxed into taking more responsibility for providing for their own future? How can the state’s role as intergenerational bridge be improved?
Keynote Address
Ursula von der Leyen
Federal Minister of Labour and Social Affairs, Federal Republic of Germany
Chairman
Robert Thomson
Managing Editor, The Wall Street Journal; Editor-in-Chief, Dow Jones & Co., New York
Introduction
Giuseppe Bertola
Professor of Economics, Department of Political Science, University of Turin
Speakers
Martin Zeil
Bavarian State Minister of Economic Affairs, Infrastructure, Transport and Technology and Deputy Minister-President
Aigars Štokenbergs
Minister for Justice, former Minister of Economics, Republic of Latvia
Kurt Biedenkopf
Former Minister-President, Free State of Saxony; Chairman of the Board of Trustees, Hertie School of Governance, Berlin
Discussion
Coffee Break
11.15 AM
Panel 3
The Role of the State in the Global Economy: Centralisation or Subsidiarity?
In France you can wash with private water; in Germany, perish the thought: water supply is one of the things firmly embedded within the public sector. Which approach is best? On a different level, governments must solve the Lehman-or-AIG conundrum: when should the state intervene in the economy? Do we need an active national or European industrial policy? Or an EU-wide economic government? Is it sensible for the state to place curbs on financial markets? What can be done about Europe’s North-South divide? With the EU bent on budget consolidation and the US still betting on deficit spending, is coordination at all desirable?
Keynote Address
Rainer Brüderle
Chairman, Free Democratic Party (FDP) Parliamentary Group, German Bundestag; Former Federal Minister of Economics and Technology, Federal Republic of Germany
Chairman
John Peet
Europe Editor, The Economist, London
Introduction
Jeffrey D. Sachs
Director, The Earth Institute, Columbia University, New York
Speakers
Norbert Reithofer
Chairman of the Board of Management, BMW AG, Munich
Dennis M. Nally
Chairman, PricewaterhouseCoopers International Ltd., New York
Lord Oakeshott of Seagrove Bay
Liberal Democrat Member of the House of Lords
Rolf Alter
Director for Public Governance and Territorial Development, OECD, Paris
Friedrich Merz
Chairman, Atlantik-Brücke, Berlin; Partner, Mayer Brown LLP, Berlin
Discussion
The available speeches of the Munich Economic Summit 2011 can be downloaded here. However, please keep in mind that the valid word is the spoken word.
Dieter Reiter
Jürgen Chrobog
Anders Borg
Sørensen, Peter Birch
Georg Fahrenschon
Martin Wolf
Michael Hüther
Ursula von der Leyen
Giuseppe Bertola
Martin Zeil
Norbert Reithofer
Rolf Alter
Photo Gallery
List of Participants
Alter, Rolf
Director for Public Governance and Territorial Development at the OECD, Paris
Adrian, Hermann
Professor, Institute of Physics, Johannes Gutenberg University, Mainz
Anders, Rolf
Managing Editor Germany, Dow Jones Newswires, Frankfurt
Augustin, Stephan
Industrial Designer; Project Manager, Innovation Projects at Project i, BMW Group, Munich
Baader, Uto
Chief Executive Officer, Baader Wertpapierhandelsbank AG, Unterschleißheim
Baecker, Ulf S.
Founder and Managing Partner, usbaecker, Hamburg
Bartels, Robin
Managing Director, Deutsche Bank, Munich
Barysch, Katinka
Deputy Director, Centre for European Reform, London
Behrend, Daniel
Director, UBS Wealth Management, Zurich
Beier, Christoph
Member of the Management Board, Deutsche Gesellschaft für Internationale Zusammenarbeit, Eschborn
Beise, Marc
Chief Economics Editor, Süddeutsche Zeitung, Munich
Berger, Roland
Honorary Chairman, Roland Berger Strategy Consultants, Munich
Bertola, Giuseppe
Professor of Economics, Department of Political Science, University of Turin
Biagosch, Andreas
Director, McKinsey & Company, Inc., Munich
Biedenkopf, Kurt
Former Minister-President, Free State of Saxony; Chairman of the Board of Trustees, Hertie School of Governance, Berlin
Bischofberger, Petra
PhD candidate and assistant researcher, University of Bern (Handelsblatt Summit Fellow)
Bocklet, Reinhold
Former State Minister; First Vice-President, Bavarian Parliament, Munich
Borck, Rainald
Professor, Department of Financial Economics, University of Passau
Borg, Anders
Minister for Finance, Kingdom of Sweden
Borggreve, Hendrik
Member of the Supervisory Board, The Royal Bank of Scotland (Germany) AG, Frankfurt
Breitsprecher, Andreas
Chief of Public Affairs, Corporate Communications, Vattenfall Europe AG, Berlin
Brok, Elmar
Member of the European Parliament, Committee on Foreign Affairs, Brussels and Strasbourg
Brüderle, Rainer
Chairman, Free Democratic Party (FDP) Parliamentary Group, German Bundestag; Former Federal Minister of Economics and Technology, Federal Republic of Germany
Buchholz, Wolfgang
Professor of Economics, University of Regensburg
Budrys, Dainius
Chairman of the Committee on Economics, Seimas of the Republic of Lithuania
Buettner, Thiess
Professor of Economics, University of Erlangen-Nuremberg
Calhoun-Senghor, Keith
Senior Counsel, Fulbright & Jaworski L.L.P., Munich
Cameron, Heather
Founder and Director, Boxgirls, Berlin; Professor, Educational Science and Psychology, Free University of Berlin
Carlsson, Staffan
Ambassador, Embassy of the Kingdom of Sweden, Berlin
Carstensen, Kai
Head, Business Cycle Analyses and Surveys Department, Ifo Institute; Professor of Economics, University of Munich
Chrobog, Jürgen
State Secretary (ret.); Chairman of the Board of Directors, BMW Stiftung Herbert Quandt, Berlin and Munich
Dagys, Rimantas Jonas
Chairman, Committee on Social Affairs, Seimas of the Republic of Lithuania
Danziger, Leif
Professor of Economics, Ben-Gurion University, Beer-Sheva
Dieter, Heribert
Senior Fellow, Global Issues Research Unit, German Institute for International and Security Affairs (SWP), Berlin
Doerner, Ulf
Head of Corporate Social Responsibility, Concordia Versicherungen, Hannover
Doesburg, Tonnis R.
Chief Executive Officer, Alliander Group, Berlin
Driessen, Peter
Chief Executive Officer, Chamber of Industry and Commerce for Munich and Upper Bavaria
Eder, Markus
Economic Policy Unit, Bavarian State Chancellery
Eggert, Wolfgang
Professor of Economics, University of Freiburg
Eltunsi, Amani
Director, Girls Only Radio Station, Cairo
Engel, Brigitte
PR and Media, Department of Public Economics, Max Planck Institute for Tax Law and Public Finance, Munich
Erlen, Hubertus
Vice-Chairman of the Supervisory Board, Bayer Schering Pharma AG, Berlin
Fabricius, Michael
Managing Director, Fabricius Vermögensverwaltung GmbH, Frankfurt
Fahrenschon, Georg
Bavarian State Minister of Finance
Friedrich, Peter
Professor of Economics, University of Tartu
Fugger-Babenhausen, Hubertus
Managing Director, Fürst Fugger Main Administration, Augsburg
Fugger-Babenhausen, Alexander
Proprietor, Fürst Fugger-Babenhausen Agriculture and Forestry Enterprises, Augsburg
Gehrke, Britta
Ph.D. Student in Economics, University of Erlangen-Nuremberg (Handelsblatt Summit Fellow)
George, Alexander
Senior Relationship Manager, UBS Deutschland AG, Munich
Gérard, Marcel
Professor of Public Finance, Catholic University of Louvain, Louvain-la-Neuve
Gfrerer, Anne
Head Identity & Communications, HypoVereinsbank - UniCredit Group, Munich
Gottschalk, Christoph
Consultant, Russel Reynolds Associates, Hamburg
Gretschmann, Klaus
Director-General for Competitiveness, Innovation and Research, Council of the European Union, Brussels
Grove, Nico
Assistant Professor, Infrastructure Economics & Management, Bauhaus University Weimar
Guérot, Ulrike
Head of Berlin Office and Senior Policy Fellow, European Council on Foreign Relations, Berlin
Haberkamm, Thomas
Public Affairs and CR Officer, Linde AG, Berlin
von Habsburg, Andreas
Global Head Corporate Advisory Group, UBS Deutschland AG, Munich
Handschuch, Konrad
Deputy Head of Politics Section, Wirtschaftswoche, Düsseldorf
Hastenpflug, Wolfgang
Vice-President, Government Affairs, Siemens AG, Munich, Germany
Haufler, Andreas
Professor of Economic Policy, University of Munich
Heinz, Gerit
Head, Wealth Management Research Germany, UBS Deutschland AG, Munich
Heister, Oda
Chief Executive Officer, Ashoka Deutschland GmbH, Munich
Helbig, Claus
Chairman of the Board of Directors, GLL Real Estate Partners GmbH, Munich
Hellström, Mats
Former Governor, County of Stockholm; Baltic Turntable, Stockholm
Hepenstrick, Christian
Ph.D. Student in Economics, University of Zurich (Handelsblatt Summit Fellow)
Heß, Dorit
Editor, Handelsblatt, Frankfurt
Hess, Thomas
Chief Economist, Swiss Reinsurance Company, Zurich
Hesse, Dominik
Founding Partner, Cannonball Capital GmbH, Munich
Hipp, Markus
Executive Director, BMW Stiftung Herbert Quandt, Berlin and Munich
von Hohenthal, Carl
Partner, Brunswick Group GmbH, Berlin
Hörberg, Robert
Executive Assistant to the Chief Executive Officer, Allianz Global Investors, Munich
Hornung, Karlheinz
Chairman of the Advisory Board, Q-Cells SE, Thalheim
Hüfner, Martin
Chief Economist, HF Economics Ltd., Krailling
Hüther, Michael
Director and Member, Executive Board, Cologne Institute for Economic Research
Irwin, Fred B.
President, American Chamber of Commerce in Germany, Frankfurt; Vice-Chairman, Citigroup Global Markets Deutschland AG & Co. KGaA, Frankfurt
Irwin, Fred B.
President, American Chamber of Commerce in Germany, Frankfurt; Vice-Chairman, Citigroup Global Markets Deutschland AG & Co. KGaA, Frankfurt
Jacobsen, John
Consul, Kingdom of Denmark, Munich
Janes, Jackson
Executive Director, American Institute for Contemporary Studies, Washington DC
de Jonquières, Guy
Senior Fellow, European Centre for International Political Economy, Brussels
Lady Judge, Barbara
Chairman of the Board, Pension Protection Fund, Croydon, Surrey
Kaletsky, Anatole
Editor-at-Large and Chief Economics Commentator, The Times, London
Kallas, Kaja
Chairman, Economic Affairs Committee, Parliament of the Republic of Estonia
Kanniainen, Vesa
Professor, Department of Political and Economic Studies, University of Helsinki
Kaps, Carola
Freelance Economic Correspondent, Munich
Kaps, Franz H.
Senior Partnership Advisor (ret.), World Bank Europe and Central Asia Region, Munich
Kapusta, Alexandra
Director, LGT Bank Deutschland & Co. OHG, Munich
Karnitschnig, Matthew
Germany Bureau Chief, The Wall Street Journal, Berlin
Keitel, Stefan
Global Chief Investment Officer, Credit Suisse AG, Zurich
Kemmer, Michael
General Manager, Member of the Board of Directors, Association of German Banks, Berlin
Kemnitz, Alexander
Professor of Economic Policy and Economic Research, Technological University of Dresden
Kessing, Sebastian
Professor of Economics, University of Siegen
Khrenov, Alexander
Consul, Russian Federation, Munich
Kinberg Batra, Anna
Chairwoman, Committee on Finance, Parliament of the Kingdom of Sweden, Stockholm
Klava, Ilgvars
Ambassador of the Republic of Latvia, Berlin
Klingholz, Reiner
Director, Berlin Institute for World Population and Global Development, Berlin
Klinz, Wolf
Chairman, Special Committee on the Financial, Economic and Social Crisis, European Parliament, Brussels
Knapp, Pamela
Member of the Management Board, GfK SE, Düsseldorf
Konrad, Kai A.
Director, Max Planck Institute for Intellectual Property, Competition and Tax Law, Munich; Research Professor at the Social Science Research Center, Berlin
Kornelius, Stefan
Foreign Editor, Süddeutsche Zeitung, Munich
von Kospoth, Carl-August
Managing Director, Eberhard von Kuenheim Stiftung, Munich
Köthenbürger, Marko
Professor, Department of Economics, University of Copenhagen
Krass, Volker
Chairman of the Board, Krass Capital Group, Gräfelfing
Krenzler, Horst G.
Honorary Professor of Law, Institute for International Law, University of Munich
Kronen, Juliane
Member of the Board, Right Livelihood Award Foundation, Stockholm
Kuhn, Martin
Partner, CMS Hasche Sigle, Munich
Kuhnert, Felix
Partner, PricewaterhouseCoopers AG Deutschland, Munich
Leeb, Thomas
Head of Munich Office and International Conferences, BMW Stiftung Herbert Quandt, Munich
von der Leyen, Ursula
Federal Minister of Labour and Social Affairs, Federal Republic of Germany
Löwy, Harald
Senior Sales Director Germany, Hitachi Data Systems GmbH, Dreieich
Maihöfer, Rolf D.
Managing Director and Head of Public Sector, Germany and Austria, Citigroup Global Markets Deutschland AG & Co. KGaA, Frankfurt
Mair, Stefan
Senior Vice-President and Member of the General Directorate, Federal Confederation of German Industries, Berlin
Martinsohn, Udo
Former Chairman of the Board of Management, Swiss Re Germany Holding AG, Unterföhring
Meier, Claudia
Researcher, Martin-Luther-University Halle-Wittenberg (Handelsblatt Summit Fellow)
Menhart, Michael
Head of Economic Research, Munich Re AG, Munich
Merz, Friedrich
Chairman, Atlantik-Brücke, Berlin; Partner, Mayer Brown LLP, Berlin
Metzger, Oswald
Author and Journalist, Bad Schussenried
Mikus, Anja
Managing Director, Chief Investment Officer, Union Investment, Frankfurt
Mosdorf, Siegmar
Former State Secretary; Partner, Communication and Network Consulting AG, Berlin
Nally, Dennis M.
Chairman, PricewaterhouseCoopers International Ltd., New York
Neo Boon Siong
Strategy Professor and former Dean, Nanyang Business School, Nanyang Technological University, Singapore
Neumann, Wolfgang
Executive Director, UBS Wealth Management, Zurich
Niebergall, Inge
Member of the Board of Management, Association of German Banks, Berlin
Northoff, Thomas
Partner, Public Sector, Deloitte & Touche GmbH, Munich
Lord Oakeshott of Seagrove Bay
Liberal Democrat member of the House of Lords, London
Ochel, Wolfgang
Senior Researcher, Ifo Institute, Munich
Panteghini, Paolo
Professor, Department of Economics, University of Brescia
Peet, John
Europe Editor, The Economist, London
Pinzler, Petra
Correspondent, Die Zeit, Berlin
Potrafki, Birgit
Commercial Plant Manager, Bosch Rexroth AG, Homburg
Poutvaara, Panu
Head, International Institutional Comparisons Department, Ifo Institute for Economic Research; Professor of Economics, University of Munich
Protte, Benjamin
Doctoral Candidate, University of Mannheim (Handelsblatt Summit Fellow)
Purainer, Harald
Chief Financial Officer, Schattdecor AG, Thansau
Quandt, Stefan
Member of the Board of Trustees, BMW Stiftung Herbert Quandt, Berlin and Munich; Deputy Chairman of the Supervisory Board, BMW AG, Munich
Rathgeb, Claudia
Consultant, Financial Services, Russell Reynolds Associates, Hamburg
Razin, Assaf
Professor of Economics, Cornell University, Ithaca
Redinger, Craig T.
Partner-in-Charge, Fulbright & Jaworski LLP, Munich
Reich, Hans W.
Chairman of the Supervisory Board, Citigroup Global Markets Deutschland AG & Co. KGaA, Frankfurt
Reiche, Katherina
Parliamentary State Secretary, Federal Ministry for the Environment, Nature Conservation and Nuclear Safety; Member of the German Bundestag, Berlin
Reichelt, Frank
Managing Director, Swiss Re Europe SA, Unterföhring
Reiter, Dieter
Councillor, Head of the Labour and Economic Development Department, City of Munich
Reithofer, Norbert
Chairman of the Board of Management, BMW AG, Munich
Richter, Frank-Jürgen
Chairman, Horasis: The Global Visions Community, Zurich
Rossi, Vanessa
Senior Research Fellow, International Economics Programme, Chatham House, London
Rottmann, Horst
Professor of Economics, University of Applied Sciences Amberg-Weiden
Ruokanen, Tapani
Editor-in-Chief, United Magazines Ltd./Suomen Kuvalehti, Helsinki
Rupprecht, Stephan
Member of the Executive Board, UBS Deutschland AG, Munich
Ryan, John
Professor, Center for Economic Policy Analysis, University of Venice
Sachs, Jeffrey D.
Chief Economist, Verband Deutscher Maschinen- und Anlagenbau e.V., Frankfurt
Sadka, Efraim
Henry Kaufman Professor of International Capital Markets, University of Tel Aviv
Scheffelmeier, Matthias
Project Manager, Ashoka's Youth Venture, Ashoka, Berlin
Schöberl, Maximilian
Corporate Communications and Politics, BMW AG, Munich
Schreckenberg, Stephan
Head of Risk Research Relations, Swiss Reinsurance Company, Zurich
Schü, Joachim
Chief Executive Officer, Consileon Business Consultancy GmbH, Munich
Seeliger, Gerd
Lawyer, Tax Consultant, CMS Hasche Sigle, Munich
Siemens, Oltmann G.
Co-Chairman, Advisory Board, First Trust Portfolios LP, Berlin
Sinn, Hans-Werner
Professor of Economics and Public Finance, University of Munich; President, Ifo Institute, Munich
Sørensen, Peter Birch
Assistant Governor and Chief Economist at the Danish Central Bank, Copenhagen
Štokenbergs, Aigars
Minister of Justice, Former Minister of Economics, Republic of Latvia
Stolper, Anno
PhD student, Economic Theory Department, University of Munich (Handelsblatt Summit Fellow)
Stuchtey, Sonja
Founder, Science-Lab, Feldafing
Sturm, Hermann
President, Union of Medium-Sized Companies, Munich
Suares, John
Financial Research, Sieger Advisers, London
Theil, Stefan
European Economics Editor, Newsweek, Berlin
Thomson, Robert
Managing Editor of The Wall Street Journal and Editor-in-Chief at Dow Jones & Co., New York
Tichy, Roland
Editor-in-Chief, WirtschaftsWoche, Duesseldorf
Udvari, Blanka Krisztina
Marketing Assistant, University of West Hungary, Sopron (Handelsblatt Summit Fellow)
Volz, Ulrich
Senior Economist, German Development Institute, Bonn (Handelsblatt Summit Fellow)
Wacker, Peter-Alexander
Chairman, Supervisory Board, Wacker Chemie AG, Munich
Warner, Jeremy
Economics Columnist and Assistant Editor, The Daily Telegraph, London
Weber, Johannes
Managing Partner, Social Venture Management GmbH, Munich
Weichenrieder, Alfons J.
Professor for Finance, University of Frankfurt
Wendeln, Bernard Jan
Managing Director, WEGA Support GmbH, Munich
Wieck, Oliver
Managing Director, International Trade and Development, Federation of German Industries, Berlin
Wieczorek, Bernd J.
Chairman, Egon Zehnder International GmbH, Berlin
Wiesheu, Otto
President, Economic Advisory Board of the Christian Democratic Union, Munich
Winer, Stanley L.
Canada Research Chair Professor in Public Policy, Carleton University, Ottawa
Winter, Joachim
Professor, Center for Empirical Studies, University of Munich
Wolf, Martin
Associate Editor and Chief Economics Commentator of the Financial Times, London
Wolf, Silke
Deputy Managing Director, Association of German Banks, Berlin
Wörner, Herbert
Senior Advisor, Monitor Group, Munich
Yamada, Keishi
Representative, Bank of Japan, Frankfurt
Zeil, Martin
Bavarian State Minister of Economic Affairs, Infrastructure, Transport and Technology and Deputy Minister-President
Zimmermann, Stefan
Researcher, Department of Personnel Economics, University of Würzburg (Handelsblatt Summit Fellow)
ORGANISERS
The BMW Foundation Herbert Quandt brings together people from across communities, cultures and countries to drive social innovation, facilitate global dialogue, and promote responsible leadership.We believe that our approach breaks down barriers between politics, business, academia, and non profits and allows society to benefit from the energy and creativity that result from cross-sector collaboration.
The CESifo Group Munich links the Department of Economics of the University of Munich and the Ifo Institute with the international economic research community. It also supports the international CESifo Research Network, an independent academic research community now numbering over 1270 internationally-renowned economists from around the world.
SPONSORS
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