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S&P: Austria Faces Recession
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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…
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