Failed Austerity Package: „Austrian Rating Not Affected“

Politics ♦ Published: April 7, 2012; 20:05 ♦ (Vindobona)

Bernhard Felderer, director of IHS (Institute of Advanced Studies) thinks that the incomplete austerity package has no effect on Austria´s prospects to return to the Triple-A status.

Failed Austerity Package: „Austrian Rating Not Affected“ / Picture: © Wikipedia / Congress of Vienna (Jean-Baptiste Isabey)

The financial transaction tax at EU-level has failed. Also the tax treaty with Switzerland, which should enable Austria to impose taxes on illegal funds deposited in Switzerland, might be postponed. Nevertheless, the austerity package as a whole is not endangered, Felderer says. Austria´s chances to return to the “AAA”-countries are not seriously damaged.

Initially, the…