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Is the Euro Bad for Austria?

Business › Economy ♦ Published: August 22, 2012; 17:01 ♦ (Vindobona)

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According to UBS, the Austrian real income was down by 35% since 2000. The introduction of the euro is the main reason, UBS says. UniCredit and the Federation of Austrian Industries oppose to the study.

Is the Euro Bad for Austria? / Picture: © European Commission

Since 2000, the Austrian real income fell by up to 35%, UBS recently said. UBS only analyzed the date from 2000 to 2010.

Since 2000, the Austrian real income fell in all income groups. 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 Austria´s data are “alarmingly weak”. “The…