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Downgrade: „It´s Time to Take Action“

People ♦ Published: January 15, 2012; 20:25 ♦ (Vindobona)

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The downgrade of Austria´s rating from “AAA” to “AA+” caused mixed reactions. The Austrian economy urges for structural actions.

Downgrade: „It´s Time to Take Action“ / Picture: © Wikipedia / Imalipusram

On the one hand, Chancellor Werner Faymann´s and Vice-Chancellor Michael Spindelegger´s first reaction was the statement, that the downgrade would be “wrong” and “not comprehensible”. On the other hand, for experts, the downgrade is no surprise at all.

Bernhard Felderer, head of the Institute of Advanced Studies (IHS) said that indications were already obvious in…