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Bronze Medal for Austria’s Economy

Published: June 21, 2011; 11:45 · (Vindobona)

According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.

Bronze Medal for Austria’s Economy / Picture: © Wikimedia Commons / Blackfish [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]

The Euro Monitor 2011 of Allianz shows Germany followed by Luxembourg, Austria, the Netherlands and Belgium. These are the top five countries in the ranking of the soundest economies in the euro zone. The most troubled economies are Greece, Ireland, Portugal and Spain.

The current debt crisis in Europe shows the need for comprehensive crisis prevention – the situation could be defused with the creation of a European bond insurance, the economists of the financial services provider are convinced. “The current and the long-term problems can not only be seen in state budgets”, explained Wolfram Littich, CEO of Allianz Group Austria. “It is important to take economic developments into account so that risks can be identified in time.”

The Euro Monitor study is composed of 15 indicators in four partial rankings. Austria defended its top ranking in the category employment, productivity and resource efficiency against Germany, although it received fewer points than in 2010. In the category soundness of public finance it arrives on the sixth rank after Estonia, Luxembourg, Finland, Slovakia and Germany. Furthermore, Austria comes on the second rank for competitiveness and domestic demand and on the fourth rank for private indebtedness and the foreign assets position.