What does an excessive deficit procedure mean for the Austrian economy?

An excessive deficit procedure against Austria is becoming more and more likely, everything else would be a surprise. Should the government fight it?

Since the economic forecasts do not hold, the previously agreed savings targets will probably not be enough to avert an excessive deficit procedure. The SPÖ sees no problem, the ÖVP rather not – and the Neos?

Following a sharp increase in the need for consolidation in the state budget, Austria is not expected to be able to cope with an excessive deficit procedure.

As it became known yesterday, instead of €6.3 billion, the Republic must save about twice in order to avoid an EU deficit procedure. But what consequences would such a procedure actually have? Apparently not as serious as feared, an expert explains.

The economy does not get going and this also has a huge impact on the republic's austerity policy. Suddenly, the need for consolidation has doubled and an EU deficit procedure is becoming more and more likely.

In fact, the black-red-pink federal government is determined to prevent an EU deficit procedure, but this is becoming increasingly unlikely.