Austria Threatened by Second Recession

♦ Published: December 20, 2012; 00:06 ♦ (Vindobona)

The Federation of Austrian Trade Unions (ÖGB) warns of a double-dip scenario. Austrian is heading for another recession, ÖGB says.

Austria Threatened by Second Recession / Picture: ©

Together with the economist Monika Merz-Gehring, ÖGB´s chairman Erich Foglar presented an economic outlook for Austria. The economist and ÖGB are rather pessimistic: Austria faces another recession, Merz-Gehring and Foglar say. Foglar: “With a number of austerity cuts, the recession was implemented very professionally.” According to ÖGB´s chairman, the European governments have…