Again Criticism on Austerity Package: „Lack in Sustainability“

People ♦ Published: March 5, 2012; 15:50 ♦ (Vindobona)

The President of the Viennese Federation of Austrian Industries (IV), Georg Kapsch, misses details of the austerity package. The package is not ambitious enough, Kapsch considers.

Again Criticism on Austerity Package: „Lack in Sustainability“ / Picture: © IV / Markus Prantl

The new austerity package was presented four weeks ago. The volume of € 26.5bn “may sound much, but it lasts for five years”. As a result, not even interest on public debt is fully covered by austerity measures, Kapsch criticizes. For Kapsch, the package „shows a certain degree of ambition“, but it “does not offer structural reforms”. Also existing saving potential is not…

or Log In

Fast News Search
Related News
Austerity Package: Sorger Misses Reforms (March 3, 2012)
Austerity Package Threatens to Fail (March 2, 2012)
„Banks are the Real Austrian Problem“ (February 28, 2012)
New Criticism on Austerity Package (February 28, 2012)
Austrian Industry: „Austerity Package Brings Excessive Rise in Labor Costs“ (February 25, 2012)
Read More
Austerity, Georg Kapsch, Health Policy, Social Policy, Taxation, Public Debt, Budget Deficit, EU European Union, Switzerland, Financial Transaction Taxes
Featured
See latest Vindobona Newsletter