INVITATION - REMINDER The WU Institute for Finance, Banking and Insurance and Spängler IQAM Invest are pleased to invite you to a Spängler IQAM Invest Round Table DATE: March 14, 2013 - 04:30 pm SPEAKER: Prof. Dr. Franklin ALLEN, Wharton School, University of Pennsylvania TOPIC: "IS US GOVERNMENT DEBT DIFFERENT? EFFECTS OF THE US DEBT CRISIS ON GLOBAL FINANCIAL MARKETS" ABSTRACT: The skyrocketing U.S. government debt, the standoff over the statutory debt limit between the Congress and the President of the United States, underlines the urgent need to consider the unthinkable: default, restructuring, or a wholesale reassessment of the U.S. Treasury securities' place in the world. Franklin Allen presents major results from his recently published book "Is US Government Debt Different?", that contains contributions by economists, historians, lawyers, market participants, and policy makers. He will discuss different aspects of U.S. government debt, including its role in the global financial markets, its constitutional, statutory and contractual basis, and its sustainability. Having laid the conceptual foundation, Professor Allen will also present a thought experiment, mapping out options for a hypothetical U.S. debt restructuring. ABOUT FRANKLIN ALLEN: Franklin Allen is the Nippon Life Professor of Finance and Professor of Economics at the Wharton School of the University of Pennsylvania. He has been on the faculty since 1980. He is currently Co- Director of the Wharton Financial Institutions Center. He was formerly Vice Dean and Director of Wharton Doctoral Programs and Executive Editor of the Review of Financial Studies, one of the leading academic finance journals. He is a past President of the American Finance Association, the Western Finance Association, the Society for Financial Studies, and the Financial Intermediation Research Society, and a Fellow of the Econometric Society. He received his doctorate from Oxford University. Dr. Allen's main areas of interest are corporate finance, asset pricing, financial innovation, comparative financial systems, and financial crises. He is a co-author with Richard Brealey and Stewart Myers of the eighth through tenth editions of the textbook Principles of Corporate Finance. Further information about Franklin Allen: http://finance.wharton.upenn.edu/~allenf/ REGISTRATION IS REQUIRED. WE KINDLY ASK YOU TO REGISTER AT vsam(a)wu.ac.at LOCATION: WU Institute for Finance, Banking and Insurance Heiligenstädter Str. 46-48, 1190 Wien - Seminar Room 1 (Ground Floor) Contact and further information: WU Institute for Finance, Banking and Insurance att. Martina Schlichting Heiligenstädter Str. 46-48 1190 Vienna Phone: +43-1-31336 6315 Mail: vsam(a)wu.ac.at Web: http://www.wu.ac.at/finance/coop/vsam