{"id":262988,"date":"2024-01-22T19:46:19","date_gmt":"2024-01-22T18:46:19","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/262988\/"},"modified":"2024-11-07T07:35:41","modified_gmt":"2024-11-07T06:35:41","slug":"sovereign-debt-crisis-tightening-its-grip-on-the-real-economy-economic-outlook-for-2012-and-2013-3","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/262988\/","title":{"rendered":"Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-262988","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The sovereign debt crisis in the euro area prompted many EU countries to step up efforts at fiscal consolidation in order to stem the rise in interest rates on their government bonds. This will dampen internal demand in the years to come, in particular if budgetary retrenchment should lose sight of policies for long-term economic growth and labour market conditions. At the same time, business activity outside the euro area is losing momentum. As a consequence, GDP growth in Austria is projected to slow down to a modest 0.4 percent in 2012. In 2013, Austria will benefit from the expected global recovery, although growth will remain subdued at 1.6 percent in volume, given the continued restrictive stance of fiscal policy across Europe.","onlinedate":"2012-01-13 01:00:00","lang":"English","publication_series":"","publication_date":"20111201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"14","keywords":"[\"WIFO Economic Outlook\"]","jelcodes":"[]","related_publications":"[]","pdf":410878,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"","journal":"WIFO-Konjunkturprognose","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44368],"research_groups":[3500],"collaboration":"","persons":[3837],"persons_data":"[{\"personId\":3837,\"personName\":\"Marcus Scheiblecker\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Scheiblecker, M.<\\\/span> (2011). <span>Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013<\\\/span>. <span><em>WIFO-Konjunkturprognose<\\\/em><\\\/span>. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/43332\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/43332<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Scheiblecker M<\\\/span>. <span class=\\\"title\\\"><span>Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013<\\\/span><\\\/span>. <span>WIFO-Konjunkturprognose<\\\/span>. 2011 Dec.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{43baee84054d4617a282c916419e368e,<\\\/div><div>  title    = \\\"Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013\\\",<\\\/div><div>  abstract = \\\"The sovereign debt crisis in the euro area prompted many EU countries to step up efforts at fiscal consolidation in order to stem the rise in interest rates on their government bonds. This will dampen internal demand in the years to come, in particular if budgetary retrenchment should lose sight of policies for long-term economic growth and labour market conditions. At the same time, business activity outside the euro area is losing momentum. As a consequence, GDP growth in Austria is projected to slow down to a modest 0.4 percent in 2012. In 2013, Austria will benefit from the expected global recovery, although growth will remain subdued at 1.6 percent in volume, given the continued restrictive stance of fiscal policy across Europe.\\\",<\\\/div><div>  keywords = \\\"WIFO Economic Outlook, WIFO Economic Outlook\\\",<\\\/div><div>  author   = \\\"Marcus Scheiblecker\\\",<\\\/div><div>  year     = \\\"2011\\\",<\\\/div><div>  month    = dec,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO-Konjunkturprognose\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013<\\\/p><p>AU  - Scheiblecker, Marcus<\\\/p><p>PY  - 2011\\\/12<\\\/p><p>Y1  - 2011\\\/12<\\\/p><p>N2  - The sovereign debt crisis in the euro area prompted many EU countries to step up efforts at fiscal consolidation in order to stem the rise in interest rates on their government bonds. This will dampen internal demand in the years to come, in particular if budgetary retrenchment should lose sight of policies for long-term economic growth and labour market conditions. At the same time, business activity outside the euro area is losing momentum. As a consequence, GDP growth in Austria is projected to slow down to a modest 0.4 percent in 2012. In 2013, Austria will benefit from the expected global recovery, although growth will remain subdued at 1.6 percent in volume, given the continued restrictive stance of fiscal policy across Europe.<\\\/p><p>AB  - The sovereign debt crisis in the euro area prompted many EU countries to step up efforts at fiscal consolidation in order to stem the rise in interest rates on their government bonds. This will dampen internal demand in the years to come, in particular if budgetary retrenchment should lose sight of policies for long-term economic growth and labour market conditions. At the same time, business activity outside the euro area is losing momentum. As a consequence, GDP growth in Austria is projected to slow down to a modest 0.4 percent in 2012. In 2013, Austria will benefit from the expected global recovery, although growth will remain subdued at 1.6 percent in volume, given the continued restrictive stance of fiscal policy across Europe.<\\\/p><p>KW  - WIFO Economic Outlook<\\\/p><p>KW  - WIFO Economic Outlook<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO-Konjunkturprognose<\\\/p><p>JF  - WIFO-Konjunkturprognose<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sovereign Debt Crisis Tightening Its Grip on the Real Economy. 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