23 Dec '11, 2pm

Austria's Aaa rating backed by strong economy Moody's - Channel NewsAsia: v......

VIENNA: Moody's said Friday that Austria's top credit rating is firmly based on its well diversified economy, low unemployment rate and strong financial system but the eurozone debt crisis is a potential risk. Moody's said Austria's Aaa rating "is underpinned by very high economic strength, thanks to a skilled labour force and a competitive export sector that have helped Austria to grow faster than the European average in recent years. "In so doing, Austria has achieved high average incomes, a well-diversified economy and structurally low unemployment," the agency said in a year-end summary of its credit rating opinion on the country. Austria has the lowest unemployment rate in the European Union with 4.1 percent of the active population jobless in October. Moody's also hailed Austria's decision to introduce a "golden rule" law obliging the government to keep the budget ba...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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Austria AAA rating backed by strong economy: Mo...

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