„The situation is inconvenient, but not dramatic“

People ♦ Published: September 13, 2012; 20:04 ♦ (Vindobona)

In an interview with the Austrian newspaper Kurier, the Austrian Minister of Economics Reinhold Mitterlehner underlines that “we must keep our nerves”.

„The situation is inconvenient, but not dramatic“ / Picture: © Wikipedia / Manfred Werner / Tsui

According to Mitterlehner the main reason of the current stagnation is the decreasing dynamics in exports. In Austria´s most important export markets, austerity programs were implemented. In Italy, Austrian exports declined by 5.7% in the first half of 2012, Mitterlehner explained. Moreover, Germany stagnates.

Mitterlehner thinks that Austria does not need a growth package. The…