Austrian „Debt Brake“ Resolved

Politics ♦ Published: December 8, 2011; 18:22 ♦ (Vindobona)

Due to the lack in approval by the opposition parties, the „debt brake“ will only be resolved as a simple act.

Austrian „Debt Brake“ Resolved / Picture: © Vindobona.org

Yesterday the government parties SPÖ and ÖVP finally decided to renounce on the “debt brake” as a constitutional act. Yesterday, a simple act has been resolved instead. Before that, the three opposition parties were criticizes fiercely for voting against the government´s plan.

The “debt brake” determines that the structural deficit has to be lowered below 0.35% of the…

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