S&P: Austria Faces Recession

Businessn.a. ♦ Published: December 17, 2011; 18:02 ♦ (Vindobona)

The rating agency forecasts shrinking economic output for countries with large exports.

S&P: Austria Faces Recession / Picture: © Vindobona.org

According to Standard & Poor´s, the recession in the euro-zone will be stronger than initially expected. Especially export countries such as Austria, Germany, the Netherlands and Finland are “extraordinarily vulnerable” to a recession. Exactly these countries are the last ones holding a triple-A rating, besides France and Luxemburg.

The weaker export situation and…