Austria translated the "acquis communautaire" with respect to export guarantee schemes into action when joining the European Union in 1995. Public guarantees for outstanding debt from exports have since then been restricted to "non-marketable" risks. Therefore, the Oesterreichische Kontrollbank...

Export guarantees are among the few tools left for an active economic policy to promote foreign trade. Under international agreements, which are in place since 1996, guarantees have been restricted to non-marketable risks. As a result, the total volume of guarantees has been stagnating in recent...