Evening Panel Discussion in Iphofen
Ways Out of the Crisis for Smaller Businesses
The Kiel Institute’s Club of Sponsors
Evening Panel Discussion
February 23, 2010 in Iphofen
How do the crisis strategies of smaller businesses differ from those of large, international businesses? Are smaller businesses suffering from a credit crunch? Do they need additional support programs? Will short-time allowances suffice to prevent massive layoffs? Would a comprehensive tax reduction package help given the budget situation?
- In its December forecast, the Kiel Institute wrote:
The international financial crisis is not over. As many industrialized countries have problems in their banking sector and high indebtedness of private households, the growth rate of the world economy will be lower than in the years before the crisis over the next years. In addition, Germany is likely to lose international price competitiveness against the countries that have been hit most severely by the crisis and which consequently will have large output gaps, high unemployment and therefore stagnating or falling wage and price levels. Moreover, a number of German banks have lost capital during the crisis and are likely to lose more as insolvencies are likely to rise drastically over the next months. As these banks reduce their lending, business investment will be impaired, although we do not expect an outright credit crunch. Business investment will remain weak as compared with other periods of recovery. All in all we only expect a moderate recovery.
- Prof. Joachim Scheide, Head of the Kiel Institute’s Forecasting Center,
- Minister Georg Fahrenschon, Bavarian Minister of Finance,
- Dr. John Feldmann, Board Member at BASF SE and President of the Kiel Institute’s Club of Sponsors,
- Heinrich Haasis, President of the German Savings Bank Association,
- Consul Nikolaus Wilhelm Knauf, Co-Owner of Knauf Gips KG, and
- Prof. Dennis J. Snower, President of the Kiel Institute,
Before the panel discussion, Prof. Scheide will give a talk on the current economic outlook for Germany and the world economy. The host for this year’s meeting is Knauf Gips KG, in Iphofen, Germany. Manfred Grundke, managing co-owner of Knauf Gips KG, will hold the opening speech. The discussion will be moderated by Prof. Dr. Joachim Scheide.
February 23, 2010, at 6.00 p.m.
at Knauf Gips KG,
Am Bahnhof 7,
97346 Iphofen, Germany
Contact person: Prof. Dr. Federico Foders (-285)