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Real Income Development: Austrian Central Bank Opposes to UBS
According to OeNB (Austrian Central Bank), real income rose by 12.2% from 2000 to 2010. UBS recently published a study, which reported that the real income fell by 25%.
Real Income Development: Austrian Central Bank Opposes to UBS / Picture: © Vindobona.org
Last week, UBS issued a study “Who wins with the Euro?”. The authors of the study stated that Austria did not benefit at all from the introduction of the euro.
Since 2000, the Austrian real income fell in all income groups, UBS reported. The highest decrease was observed for the poorest income group, for which the real income was down by 35%. The analyst Paul Donovan comments…
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