Business - Economy

Declining Real Income: UBS Defends Report

Published: August 24, 2012; 17:01 · (Vindobona)

Paul Donovan, author of the controversial study, was criticized by Austria´s Central Bank and Bank Austria. Donovan underlines that his study is correct.

Declining Real Income: UBS Defends Report / Picture: © Vindobona.org

Last week, UBS issued a study “Who wins with the Euro?”. The authors of the study stated that Austria did not benefit at all from the introduction of the euro. Since 2000, the Austrian real income fell in all income groups, UBS reported. The highest decrease was observed for the poorest income group, for which the real income was down by 35%. The analyst Paul Donovan comments that…

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Declining Real Income: UBS Defends Report

Paul Donovan, author of the controversial study, was criticized by Austria´s Central Bank and Bank Austria. Donovan underlines that his study is correct.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.