Published in
Englishon 1 juni 2011•
Dear Madam, Dear Sir,
In addition to our earlier sent invitation, participation bulletin and hotel booking form, kindly find enclosed the agenda, the itinerary and the preparatory documents for the 3rd Chief Economist Meeting of the European Association of Public Banks taking place in Sweden on 9 and 10 June 2011.
In addition to the presentations of the host, SALAR, and the EAPB Members, we would like to draw your special attention to the contribution of the following external speakers:
-Mikael Sandström, State Secretary to the Swedish Prime Minister Fredrik Reinfeldt (Sweden) ”Things are going well for Sweden – why?”
-Claes Berg Advisor to the Governor at Sveriges Riksbank (Sweden) ”Monetary Policy and the Role of Potential GDP Growth”
The global financial crisis and the great recession: causes, effects, measures and consequences for economic analysis and policy”
- Robert van der Eijk, Partner, PWC Enterprise Advisory (Belgium) ”Project Blue from ubiquity to precision: How to prepare for a new reality:
Demographic changes, emerging markets and other factors which influence a sustainable financial environment”
As preparatory literature we herewith include the following documents:
-EU Economic Governance
-IMF Working Paper: Taxing Financial Transactions: Issues and Evidence
Special is also the interactive visit to the Swedish Parliament under the guidance of the Parliamentarian of the Moderate Party, Member of the Committee on Finance, Göran Pettersson.
Please note registering is still possible by sending the enclosed participation bulletin directly to registration@eapb.eu and the hotel booking form directly to the hotel.
All information in this mail including the C.V.s of the speakers will be retrievable fom the EAPB website.
We are looking forward to meeting you in Sweden.
With best regards,
Henning Schoppmann
EAPB Secretary General
Tel.:+32 (0)2 286 90 60
Lena Bäcker
Chief Economist Kommuninvest in Sweden,
Initiator and Moderator of the EAPB Chief Economist Network
Tel: +46 730 48 10 01
Miriam Roemers
EAPB Public Relations Manager
Tel.:+32 (0)2 286 90 62
Cell phone: 0032 (0)475 84 52 33
For more information:
2011_06_09and10_EAPB_Chief Economist Meeting_Sweden_ITINERARY
2011_06_09and10_Chief Economist Meeting_Sweden_AGENDA_status 1.06.2011_FF
2011_06_09and10_EAPB_Chief Economist Meeting_Stockholm_PARTICIPATION BULLETIN (2)
2011_06_09and10_CEM_Sweden_EU Economic Governance_MEMO-11-364_EN (3)
2011_06_09and10_CEM_Sweden_IMF_wp1154_Taxing Fin Transactions
Published in
Englishon 30 maj 2011•
The Tällberg Forum 2011 takes place on 29 June to 3 July 2011 in Sigtuna, Sweden with the theme “How on earth can we live together – How can we agree to agree?”. 500 leaders from all over the world and from different sectors of society will gather for a conversation about the whole – and in the interests of the whole.
Kommuninvests Chief Economist Lena Bäcker partipate in the international work-shop and conversation about ”Towards a reappraisal of economic thinking”. Questions for discussions: Can a future of continued improvements in human wellbeing be achieved without evolving economic theory? Adjusting underlying assumptions, such as those regarding natural resources and human behaviour, may dramatically improve the economic models that guide politicians and business strategists. But where do we start?
With input from, among others; Dennis J. Snower, President, Kiel Institute for the World Economy, Director of the Global Economic Symposium, and Professor of Economics, Lena Bäcker Chief Economist Kommuninvest in Sweden, Christian-Albrechts University of Kiel, Germany and Stewart Wallis, Executive Director, New Economics Foundation, United Kingdom.
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
To read more:
http://www.tallbergfoundation.org/TÄLLBERGFORUM/TällbergForum2011inSigtuna/tabid/1024/Default.aspx
Published in
Englishon 20 april 2011•
The Swedish economy remains strong, and the labour market is continuing to improve steadily. Underlying inflation is still low, but is expected to rise as resource utilisation increases and wages rise at a faster pace. At the same time, CPI inflation is high at present because mortgage rates rise when the Riksbank increases the repo rate. However, the effect of interest costs on CPI inflation is expected to be transitory. To stabilise inflation close to the target of 2 per cent and to avoid resource utilisation being too high, the repo rate needs to gradually increase. The Executive Board of the Riksbank therefore decided to raise the repo rate by 0.25 percentage points to 1.75 per cent.
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
Published in
English, Svenskaon 17 april 2011•
Now it is time for 500 leaders from all over the world and from different sectors of society to gather for a conversation about the whole – and in the interests of the whole. I have been invited to participate in this year’s top meeting about our world and future ”Tällberg Forum 2011″. The Tällberg Forum 2011 will take place on 29 June to 3 July 2011 in Sigtuna, Sweden with the theme “How on earth can we live together – How can we agree to agree?”. The program will be filled with panel discussions, concerts, conversations, cultural performances, seminars, conversations and workshops.
I am invited to participate during the summit in both panel discussions and seminars. I am pleased to have been asked and think it will be great to hopefully help with some good views in the international discussions. About the Tällberg Forum:
The Tällberg meetings have evolved into a new form of global gathering. Independent of established interests and institutions, the annual Tällberg Forum gathers 500 people over five days at the end of June.
The annual gatherings organized for over two decades by the Tällberg Foundation have evolved into an innovative global Forum characterized by an atmosphere of openness, honesty, warmth and creativity. Every year, leaders from all over the world and from various sectors of society gather to talk about and reflect upon the challenges and opportunities that stem from global interdependence.
The Tällberg Forum is an arena for reflection, conversations and the search for creative solutions, integrating both nature and the arts, where people feel free to step outside of their professional identity, to share doubts and new ideas, and search for ways forward outside of established frameworks. It acts to stimulate the conversation on, and design solutions to the problems of our times in order to foster new thinking and solutions. People from business and finance meet people from politics, science, international organizations and civil society on equal terms, and not as stakeholders. They come to talk, listen, reflect, question their assumptions, and gain the new insights that give them new responsibilities.
For many, the Tällberg Forum is viewed as a natural extension of a highly respected Swedish tradition of internationalism, progress, intellectual curiosity, mediation and sustainability.
Looking really forward to interesting discussions and meetings about the challenges and opportunities in a more globalized world.
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
The Swedish Local Government Debt Office
To read more:
http://www.tallbergfoundation.org/
http://www.tallbergfoundation.org/T%C3%84LLBERGFORUM/T%C3%A4llbergForum2011/T%C3%A4llbergForum2011inSigtuna/tabid/1024/Default.aspx
Published in
Englishon 14 april 2011•
Sweden’s economy is growing rapidly, unemployment is falling and public finances are expected to show a surplus already this year. This means the Government will be better equipped to implement measures for more people in work and improved welfare.
The Government’s main objectives during the electoral period are to steer Sweden towards full employment and reduce social exclusion. Forecasts for the coming years show high growth, strong public finances with a surplus already this year and falling unemployment.
If the economic situation allows and on condition that important reforms in the areas of welfare and education can be safeguarded, the Government intends to implement major parts of the tax cuts that were announced as reform ambitions in the Budget Bill for 2011. Ahead of the 2012 Budget Bill policy will be focused on responsibility for jobs through ensuring steady growth to get more people in work without overheating the economy, building a robust financial system and strengthening the quality of the education system and welfare. If necessary for steady growth, Sweden will move ahead of other countries to secure a robust financial system.
To steer Sweden towards full employment and reduce social exclusion, in the 2012 Budget Bill the Government will give priority to measures for:
More people in work
The focus is on continued reforms to put more people in work and encourage more and growing enterprises for higher growth. The Government is giving priority to further in-work tax credits and a higher threshold for state income tax, combined with lower taxes for pensioners and lower VAT for restaurants.
A robust financial system
A stable financial system is of central importance for the economy. The Government will try out measures to offset risks associated with household indebtedness and banks’ risk-taking and foreign exposure. The possibilities of increasing banks’ equity requirement will be reviewed. This is to make them more resilient to financial unrest. Moreover the transition rules for Swedish banks’ capital adequacy will be extended so as to prevent capital adequacy requirements becoming lower than at present.
A high-quality education system
Well-functioning education will strengthen Sweden’s competitiveness and improve individuals’ knowledge and life opportunities. 2011 and 2012 will be two of the most reform-intensive years in Swedish educational history. Despite this, further measures may be needed to rectify remaining deficiencies in the education system. The Government considers that it continues to be important to raise the status of the teaching profession, for example through rewarding good teachers.
High quality welfare
Our publicly provided, jointly financed welfare must be of the highest possible standard and must be available to all. The Government has implemented a number of welfare reforms for higher quality, greater freedom of choice and increased accessibility. The future direction of policy will be to continue to enhance quality, accessibility and freedom of choice in health care and elderly care and improve the situation of children and young people at risk. In addition the Government wants to continue to improve the results and effectiveness of the judicial system.
Sustainable growth in all parts of Sweden
The Government wants to improve the conditions for running a business, working and living everywhere in the country. Sweden must take advantage of the energy transition in the green industries and of people’s interest in tourism, locally produced food and experiences of nature. Good access to commercial and public services and digital and physical infrastructure are important for sustainable growth throughout Sweden.
Expenditure ceiling for 2015 of SEK 1 123 billion
In the Spring Fiscal Policy Bill the Government also calculates the size of the expenditure ceiling for 2015. The Government estimates that the expenditure ceiling should be SEK 1 123 billion. This means an increase of SEK 20 billion compared with the previous year which will result in a slightly lower budget margin than in 2014.
Nothing much new reforms was presented in the spring fiscal policy bill and it seems we will have to wait for the September budget proposal for concrete numbers on the government’s planned spending for next year.
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
The Swedish Local Government Debt Office
Published in
Englishon 14 april 2011•
The inflation rate was 2.9 percent in March (2.5 percent in February). The Swedish consumer prices increased by 0.7 percent from February to March. We see the March inflation readings as low. Both CPI and CPIF were well below forecast. There were several components that surprised on the downside, for instance prices for clothing and footwear, food and travelling all came out lower than expected. The picture is somewhat mixed for the Riksbank. CPIF was below the Riksbank’s view in March while CPI was just as much above the Riksbank’s forecast. The Riksbank probably focuses more on CPIF, but the elevated CPI-inflation should be a source of concern for the Riksbank, not least as we expect inflation expectations to rise along with higher CPI. The conclusion for monetary policy is that the Riksbank will continue to hike rates going forward, but the low CPIF-inflation makes rate hikes by 50bp less likely. However, remember that inflation data are very volatile and we still expect inflation to move higher going forward. We stick to our view that the Riksbank will hike rates by 25bp at the coming meetings.
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
The Swedish Local Government Debt Office
Published in
English, Svenskaon 12 april 2011•
Re: Third Chief Economist Meeting of the EAPB on Thurday and Friday, 9 and 10 June 2011 in Stockholm, Sweden
Dear Madam,
Dear Sir,
We have the pleasure of inviting you to the third EAPB Chief Economist Meeting which will be jointly hosted by the Kommuninvest Sweden and the European Association of Public Banks (EAPB) and which will take place on Thursday 9 June 2011,13h.30 in Stockholm on the premises of SALAR (Swedish Association of Local Authorities and Regions-Sveriges Kommuner och Landsting /http://english.skl.se/),Hornsgatan 20,SE-118 82 Stockholm, Sweden and on Friday 10 June 2011, 9h.00 on the premises of Hotel Krusenberg Herrgård AB, 755 98 Upsala.
We would like your special attention to the contribution of We would like to draw your special attention ot the contributions of Claes Berg Advisor to the Governor at Sveriges Riksbank who will convene a speech on ”Monetary Policy and the Role of Potential GDP Growth” on 9 June at 13h.30 and of Hans Lindblad, State Secretary to Minister for Finance Anders Borg (exact title of speech t.b.c.).
The Itinerary, agenda and preparatory documents will be sent to you in due course. If you would like to add a special topic to the agenda, please contact us before 30 April 2011.
On the evening of 9 June 2011, you are kindly invited to a dinner. May we kindly ask you to return the enclosed participation bulletin confirming your or your representative’s attendance or non attendance to registration@eapb.eu by 2 May 2011 latest.
An accommodation contingent has been reserved at the:
Hotel Krusenberg Herrgård AB
75598 Uppsala
Rate: 1995 SEK (+/- 211 Euro) Euro per single room/night – TVA and breakfast, included.
www.krusenbergherrgard.se
For the hotel booking, may we kindly ask you to use the enclosed hotel booking form and to send it directly to the hotel.
We look forward to welcoming you.
Kind regards,
Henning Schoppmann Miriam Roemers Lena Bäcker
EAPB, Secretary General EAPB, Public Relations Manager Kommuninvest, Chief Economist
Published in
Englishon 3 april 2011•
New figures from the Statistics Sweden shows Excessive Deficit Procedure for 2010. Net lending and borrowing in the general government sector has improved in 2010 compared to 2009 but a small deficit remains, amounting to SEK 1.2 billion. In relation to GDP the deficit has improved from minus 0.7 percent in 2009 to 0.0 percent in 2010. The consolidated gross debt amounted to 39.8 percent in relation to GDP in 2010. Sweden has thus succeeded in meeting the EU’s convergence requirements, stipulating that government savings must not be lower than minus 3 percent and gross debt must not exceed 60 percent in relation to GDP.
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
The Swedish Local Government Debt Office
Published in
Englishon 2 april 2011•
The latest report from National Institute of Economic Research (NIER) shows that a strong recovery of the Swedish economy is continuing, and the employment rate will rise to a level unsurpassed in 20 years. Unemployment, however, will still be high. It will therefore be appropriate to keep monetary and fiscal policies expansionary.
The labour force will continue to grow in 2011‑2012, inpart because of an expanding population and the increasing number seeking to enter the labour market. In the next two years the number employed will rise by 160 000, and the employment rate in 2013 will be the highest in 20 years. But with the inflow into the labour market, unemployment will still be relatively high, almost 7 percent at the end of 2012. In the current recession, both the number of long-term unemployed and unemployment among the least educated have risen sharply. It will be important to keep an eye on this worrisome tendency in the period ahead.
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
The Swedish Local Government Debt Office
To read more:
http://www.konj.se/224.html
Published in
Englishon 28 mars 2011•
The retail trade sales volume increased by 3.0 percent in February compared to the same month last year. Retail sales for consumables decreased by 0.5 percent while retail sales for durables increased by 6.1 percent. The information is working day adjusted. Today’s figures for foreign trade as strong, and the upward trend in exports is if anything better than expected. Export of goods was up 22% y/y (current prices) in February, and a preliminary calculation in fixed prices shows that exports have risen sharply seasonally adjusted in recent months. Imports are also rising but at a somewhat slower pace, both y/y and m/m. The slower growth in imports could be explained by the fact that stock building is slowing, while other parts of domestic demand are rising at a decent pace. The weaker than expected retail sales reading for February could be an additional factor explaining the lower growth of imports.
The trade balance for the first two months of the year bodes well for Q1 GDP which probably will come out above the Riksbank’s forecast.
Details, February:
Trade balance, SEK 12.0bn (consensus 9.0bn; prior 7.7bn revised from 9.0bn; Feb 2010 1.3bn)
Exports of goods, SEK 99.9bn (prior 95.2bn, revised from 96.9; Feb 2010 82.2bn)
Imports of goods, SEK 87.9bn (prior 87.5bn, revised from 87.9; Feb 2010 80.9bn)
Lena Bäcker
Chief Economist
Kommuninvest in Sweden
The Swedish Local Government Debt Office
To read more:
http://www.scb.se/Pages/PressRelease____310791.aspx
