The European economy grew by 2.8 percent (euro area +3.0 percent) in 1998, the highest rate since 1994. Production and demand peaked in the first half of the year, when export still expanded at a lively pace. At first, the currency crises in South-East Asia had little effect on the EU's foreign...

At present it is not possible to gauge the extent of the financial and economic crisis in South-East Asia. The effect of this crisis on Austria will, however, remain marginal: there are few direct trade links between Austria and the countries in question (exports to these countries amount only...

The crisis in the Far East could depress the growth of Austria's exports by at most 0.5 percentage points and the expansion of real GDP by 0.1 percentage point to 0.2 percentage points, even under pessimistic assumptions. To the direct effects must be added the indirect effects resulting from...