„Debt Brake“ for Austrian Government

Politics ♦ Published: November 15, 2011; 19:47 ♦ (Vindobona)

As the Austrian government fears a downgrade of its rating, the coalition partners agreed to install a „debt break“. Reactions are ambiguous.

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

The Austrian government stated to install a “debt break” into the constitution. Until 2017, the structural deficit should decrease by 0.75% of the GDP annually. By 2017, deficit should amount to 0.35% at most.

The Federation of Austrian Industries reacts positively to the announcement. A long-lasting claim will be fulfilled now. “This is the right way in order to create the…