Ewald Nowotny

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Ewald Nowotny, 2012

Ewald Nowotny (born June 28, 1944 in Vienna ) is a former Austrian politician of the SPÖ and economist. From September 1, 2008 to August 31, 2019, he was governor of the Oesterreichische Nationalbank . At the beginning of 2013, his contract was extended for a further six years (as of September 1, 2013). From 2006 to the end of 2007 Nowotny was General Director of BAWAG PSK

Life

education

Career

Political activities

From 1974 to 1999 Nowotny was a member of the district executive of the SPÖ Linz and from 1978 to 1999 a member of the National Council .

From 1989 to 1999 Nowotny was

From 1990 to 1999 he was also a member of the SPÖ's federal party executive . In 1999 Ewald Nowotny resigned from all of his political functions and offices.

He is a member of the Trilateral Commission .

criticism

As governor of the National Bank, Nowotny expressed concern about the level of national debt in Austria . As his party's financial spokesman for many years in the National Council, he himself played a key role in the budget policy of the grand coalition from 1986 to 2000. During this time, the public debt rose from just under 52 to 66 percent of GDP, the annual budget deficit averaged over three percent. In the opinion of economically liberal critics, Nowotny was “the scientific appeasement councilor of the grand coalition's debt policy”. It can be countered that Nowotny speaks out against a frivolous increase in the structural deficit in order to avoid dependence on the "capital markets" as much as possible:

“In terms of the level of the tax burden, however, the tax system has apparently reached psychological limits in recent years - nevertheless, the way out of permanent financing through public debt is wrong, because this restricts the socio-political scope of the budget through rising debt service ratios, which in the long term intensified Control of the capital markets over the development of the public sector entails [...]. "

- Ewald Nowotny : Neoliberalism and the Public Sector - Development and Alternatives. In: WIWIPOL (ed.), Economic Policy Alternatives to the Global Hegemony of Neoliberalism , Vienna 1997, p. 78.

In September 2015, he wrote an article in favor of pursuing European monetary policy and European integration cautiously. He rejected calls for a European “economic government” or a European “finance minister”; likewise the thesis recently asserted by the French Minister for Economic Affairs, Emmanuel Macron , that one has to decide whether one wants to be 'the new founder or the gravedigger of the EU'. According to Macron, taboos in Germany would also have to be broken. If one is not ready for any form of financial transfer in the euro area , one can forget the euro and the euro area.

Awards (excerpt)

Works (selection)

  • Wages, prices, employment. (Ed.) Frankfurt, 1974. ISBN 978-3807250120
  • Public debt. Stuttgart-New York, 1979. ISBN 978-3437400667
  • Macroeconomic Financing and Public Debt. With P. Mooslechner. Austrian Research Institute for Savings Banks. Vienna 1980.
  • On the political economy of public debt. In: National Debt Controversy. (Ed. DB Simmert, K.-D. Wagner) Bonn 1981. ISBN 978-3804685888
  • Economic growth and the public sector. With W. Hanisch, S. Hellmer. Series of publications by the Ludwig Boltzmann Institute for Growth Research. Vol. 12. Vienna 1989.
  • Handbook of Austrian Economic Policy. With H. Abele, S. Schleicher, G. Winckler. (3rd edition) Vienna 1989. ISBN 978-3214070526
  • Reasons and Limits of Public Debt. In: Economics in theory and practice. (Eds. G. Chaloupek, A. Guger) Berlin and Heidelberg 2002. ISBN 978-3642626715
  • The public sector. Introduction to finance. With M. Zagler. (5th edition) Berlin-Heidelberg 2009. ISBN 978-3540878001

literature

Patrick Horvath, Peter Mooslechner, Andreas Staribacher, European Economic Policy of the Future. Festschrift for Ewald Nowotny's 70th birthday. New Academic Press, Vienna 2014.

Web links

Commons : Ewald Nowotny  - Collection of pictures, videos and audio files

Individual evidence

  1. ↑ New OeNB Governor Holzmann sees himself as independent. In: ORF.at . August 31, 2019, accessed September 1, 2019 .
  2. ^ Der Standard, May 7, 2008: New National Bank management fix
  3. ^ Wiener Zeitung, January 17, 2013: Nowotny appointed head of the National Bank for another six years
  4. ↑ Vienna University of Economics and Business: University Council: The WU University Council for the period 2013 to 2018 was constituted on April 2, 2013. ( Memento from January 24, 2016 in the Internet Archive )
  5. ↑ Ewald Nowotny is the new President of the Austrian Society for European Politics. September 11, 2019, accessed September 11, 2019 .
  6. ↑ The Trilateral Commission: Members European Group 2011 (PDF) p. 5 & Members 2013 (PDF) p. 6.
  7. ↑ Nowotny: Austria has excessive debts Wiener Zeitung , December 28, 2012
  8. ^ Ewald Nowotny or an Austrian career Die Presse , March 9, 2014
  9. ↑ sueddeutsche.de August 31, 2015: "We want a new foundation of Europe" (Macron in an interview)
  10. ↑ sueddeutsche.de September 15, 2015 / guest contribution by Ewald Nowotny: Evolution instead of revolution
  11. ↑ Quote: Et cela exige also de casser des tabous en Allemagne. Si les Etats membres ne sont pas prêts comme jusqu'à aujourd'hui à toute forme de transferts financiers au sein de l'union monétaire, on peut oublier l'euro et la zone euro. ( Interview text ).
  12. ↑ ÖGfE President Professor Ewald Nowotny gets Economics Prize by the Monetary workshop. June 30, 2020, accessed June 30, 2020 .
personal data
SURNAME Nowotny, Ewald
BRIEF DESCRIPTION Austrian economist and politician (SPÖ), member of the National Council
DATE OF BIRTH June 28, 1944
PLACE OF BIRTH Vienna