Austrian Real Income Fell Dramatically

BusinessEconomy ♦ Published: August 20, 2012; 17:51 ♦ (Vindobona)

Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.

Austrian Real Income Fell Dramatically / Picture: ©

Since 2000, the Austrian real income fell by up to 35%. UBS only analyzed the date from 2000 to 2010. The Swiss bank UBS analyzed the inflation-adjusted income of eleven European countries. According to UBS, the introduction of the euro was no benefit at for Austria. But also for German and Irish income recipients, the real income fell significantly. In Italy and France, the majority of…

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