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Austria gets AAA despite rise in unemployment

Austria gets AAA despite rise in unemployment

The U.S.-based rating agency Moody’s has confirmed Austria’s AAA rating, despite an overall negative economic outlook for Europe. The triple-A verdict is based on Austrian unemployment being the lowest in the European Union, and the overall strength of its economy, retaining strong growth rates compared with most of its European counterparts. However, Austria is also […]

The Ratings Scam

The U.S. rating agency Standard and Poor’s has become a something of a joke in Austria. What? They downgraded us? While still awarding a AAA to the United Kingdom? Since the London riots, every Austrian knows that unemployment in the U.K. is high – in fact 8.6%, whereas here it still hovers around 4%, the […]

Eurozone Credit Rating

Eurozone Credit Rating

Why Buy Time, If You Don’t Want to Use It?, 14 Jan. by Michael Fleischhacker So, Austria no longer belongs to the circle of the most trustworthy debtors in the euro zone. The justification given by Standard&Poor’s for the country’s downgrade from AAA to AA+ – Austria’s economic inter-connections with its problematic neighbours Hungary and […]

Estonia Upgraded

While much of the EU is at odds with rating agencies, Estonia’s credit rating was raised to AA due to its record economic growth of 8.5% since the first quarter of 2010, putting it above the 26 other EU members. The country has attracted businesses by doing away with corporate taxes entirely and placing a […]

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