63rd WORLD NEWSPAPER CONGRESS

Session: FinanceSpeaker: Prince Michael von und zu Liechtenstein

Vienna, Reed Messe Wien

Mark your calendar

64th WORLD NEWSPAPER CONGRESS19th WORLD EDITORS FORUM

www.wan-ifra.org/kiev2012

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63rd World Newspaper CongressVienna

Prince Michael von und zu LiechtensteinChairman of Geopolitical Information Services AG, Vaduz Chairman of Industrie- und Finanzkontor Etabl., Vaduz

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Sovereign Debt

Cyclical Deficit versus Structural Deficit Non-sustainable Spending versus Revenues

of an Economy

# It is not a cyclical recession but a structural recession!

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Policy of «easy money»

FED Policy to support the Economy Exaggerated Credits Exaggerated Lending Exaggerated Spending

# Result: the Sub-Prime Crisis!

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Result of «easy money» - 1

Origin: SPIEGEL 34/2011, page 60.

Trillion

Trillion

Trillion

Trillion

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Result of «easy money» - 2 Proportion of the US-Financial Sector…

… in economic performances of companies

… in coporate profits

1948 1st quarter

2011 1st quarter

Origin: SPIEGEL 34/2011, page 62.

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Current situation

Distortion of Politics and Markets € - Crisis Economic Crisis Financial Crisis Crisis of Political Structure

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What can be done: Solutions to the problems?

On the Macro Level? For Businesses: How to adapt, survive and

prosper?