Word: austria
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Dates: during 2000-2009
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...private deposits - the largest such guarantee in history, according to one leading banking expert. The fact that Ireland had previously issued an even more sweeping guarantee hardly shielded Germany from criticism: as Europe's biggest economy, it sets a massive precedent. Indeed, since Merkel's announcement, Denmark, Sweden and Austria have taken steps to offer stronger guarantees to their depositors. Spain is reportedly considering a move to follow suit, and British politicians were in talks with banks on Monday night about a stopgap measure to inject government funds into selected institutions...
...joined Sarkozy, Berlusconi and Brown in grumbling about a similar total savings guarantee announced last week by Ireland, which E.U. competition authorities had already pledged to challenge as a competition-distorting measure. But with Germany, Europe's largest economy, reversing its stand and taking that same route Sunday, Austria said it would follow suit - making it the fourth E.U. nation to guarantee private savings, along with Greece. Denmark and Sweden also raised the limits on savings they would guarantee, and by Monday, even British Finance Minister Alistair Darling was giving signals that Britain too might swap its current...
...Austria Right Foot Forward The moderate voices that have dominated Austrian politics since the end of World War II were quieted on Sept. 28. The country's two far-right parties, campaigning on anti-E.U. and anti-immigration platforms, made unprecedented gains in the national parliamentary elections, taking almost 30% of the vote. Both the Freedom Party and the Alliance for the Future of Austria have been tainted by accusations of neo-Nazism and xenophobia. Analysts, however, credit their success less to a tilt toward extremism than to widespread frustration among Austrians with the ruling moderate parties. The shaky...
...parties raises questions about the future direction of Austrian policy. Already the country has turned sharply against an E.U. constitution; even the Social Democrats have said that no new document would be approved without a popular referendum, which would almost certainly fail. The number of immigrants entering Austria is small compared to that of Spain and some other E.U. countries. But Strache nevertheless got traction with his calls for curbs on "criminal immigrants," including implanting electronic chips in anyone convicted of a crime to allow the authorities to monitor their movements...
...dilemma confronting opponents of Austria's far right is that the parties appear to thrive in opposition. The last time that the Freedom Party was included in a governing coalition, its support crumbled. Over the past two years in pure opposition, by contrast, they have ridden from success to success. Strache has said he would like to be Chancellor some day. Unless Austria's mainstream parties can find a way to share power and work together in a more effective and responsive way, he may eventually get his wish...