Horizons
  The gravitational force harbours a fundamental instability against collapse. In standard General Relativity without Quantum Mechanics, this implies the existence of black holes as natural, stable solutions of Einstein's equations. If one attempts to quantize the gravitational force, one should also consider the question how Quantum Mechanics affects the behaviour of black holes. In this lecture, we concentrate on the horizon. One would have expected that its properties could be derived from general coordinate transformations out of a vacuum state. In contrast, it appears that much new physics is needed. Much of that is still poorly understood, but one may speculate on the way information is organized at a horizon, and how refined versions of Quantum Theory may lead to answers. 
Gerard 't Hooft (Spinoza Institute and ITP, Utrecht, Netherlands)