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Three young financial journalists were awarded the LGT Media Prize for world-class economic reporting in Vienna's Liechtenstein City Palace on February 21, 2017. LGT's chairman, H.S.H. Prince Philipp von und zu Liechtenstein, presented the winners one first prize and two recognition prizes.
The first prize went to Elisabeth Woditschka (Forbes) for her article 'Der Wert der Autonomie' (The value of autonomy), which sees the author consider innovative medical device technology designed to mobilize people with paraplegia. Elisabeth addresses both the opportunities in terms of medical devices and their pros and cons, and also looks closely at the issues of funding through the shared risk community of those insured. The eminent judging panel believes that Elisabeth Woditschka's approach to the topic was more effective than all the other contestants. It stated that the article is comprehensive and looks at the topic in a multi-layered manner.
Stefanie Kompatscher received the first recognition prize for her article 'Estland: ein Staat auf Dauerdiät' (Estonia: A country on a continuous diet), which was published in 'Die Presse'. The LGT Media Prize judging panel commended the balanced account of the current situation in Estonia and the exhaustive research that went into it. Stefanie's article draws the picture of a country seen as a star pupil of the European Union when it comes to liberalism. She writes that every citizen there has a digital identity card, companies can be formed in 15 minutes, and it takes just three minutes to complete a tax return. State frugality is said to be paramount. Stefanie claims that the consequences of this for the population are not only positive, as it also creates social imbalances.
The second recognition prize went to Gerald Gartner (Der Standard) for his article 'Alter, Bildung, Geschlecht: Wer wieviel verdient' (Age, education, gender: how much is earned by who). According to the judging panel, the article is an exhaustive examination of data and confirms or refutes prejudices, making it truly informative for the reader. Co-author Markus Hametner and Gerald Gartner throw light on the general dissatisfaction with personal income. Based on wage tax statistics evaluated by the Research Institute Economics of Inequality at the Vienna University of Economics and Business, the authors demonstrate how income is actually distributed.
This year sees LGT Bank Austria award the LGT Media Prize for the sixth time. "In awarding the LGT Media Prize, we recognize how important dedicated, expert journalism is to the understanding of economic structures and trends. LGT Bank Austria wants to award this prize to and foster journalists who are already capable of mastering such challenges at a young age," said co-CEO of LGT Bank Austria Meinhard Platzer in his welcoming address.
LGT’s chairman, H.S.H. Prince Philipp von und zu Liechtenstein, presented the prizes during a ceremony in Liechtenstein City Palace. The five-member independent judging panel, consisting of five leading experts from the research, teaching, and business communities, as well as Austria's media assessed all the competing articles on an anonymous basis. In a first round, the judging panel nominated nine articles out of all those submitted. Of those nominated, the judging panel awarded the LGT Media Prize for one article and recognition prizes for two others. A total of 6,000 euro is set aside for the LGT Media Prize.
Competition rules for the LGT Media Prize 2018 will be announced in the summer and can be viewed at Sponsorship in Austria