Ewald Nowotny: Financial cycles and the real economy – lessons for CESEE Opening remarks by Prof Dr Ewald Nowotny, Governor of the Central Bank of the Republic of Austria, at the Conference on European Economic Integration (CEEI) 2013 “Financial cycles and the real economy – lessons for CESEE”, Vienna, 18 November 2013.
*  *  *  Good morning, ladies and gentlemen, It is a great pleasure for me to welcome you to this year’s Conference on European Economic Integration, which will be dealing with the topic of “Financial Cycles and the Real Economy: Lessons for CESEE.” Let me start by sharing some general observations and thoughts with you.