Keuschnigg Advises Austria to be Patient

People ♦ Published: October 4, 2013; 12:09 ♦ (Vindobona)

According to Keuschnigg it was not possible to increase the core capital quota of the banks to the level necessary or to reduce public debts by 120 percent in two years only.

Keuschnigg Advises Austria to be Patient / Picture: ©

During the Alpbach Financial Symposium, head of IHS (Austrian Institute for Higher Studies) Christian Keuschnigg urged Austria to be patient in the reduction of debts. According to him, the recession in Europe was an “adjustment recession” countries could only get out of by structural changes.

However, Keuschnigg points out that there were more and more signs for the…