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Austria: Spindelegger Expects Significant Increase of Deficit

Published: April 1, 2014; 14:59 · (Vindobona)

According to the Finance Minister, the consequences of the Hypo-disaster are “dramatic”. However, he does not see a danger of deflation.

The Hypo Group disaster could negatively effect the budget in 2015. / Picture: © Vindobona.org

Finance Minister and Deputy Chancellor Michael Spindelegger expects both the budget deficit and state debts to jump up. “We can see what dramatic consequences we suffer from now by the blue scandal (caused by the FPÖ, Austrian Freedom Party, Ed.) many years ago,” Spindelegger said on Tuesday ahead of the beginning of the meeting of the Eurogroup in Athens.

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Austria: Spindelegger Expects Significant Increase of Deficit

According to the Finance Minister, the consequences of the Hypo-disaster are “dramatic”. However, he does not see a danger of deflation.

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