Nowotny ‘Disappointed’ on No Debt Brake in Austria Constitution

Austrian Central Bank Governor Ewald Nowotny said he’s “very disappointed” that the country’s debt brake regulation won’t be in the constitution.

“We are under close international surveillance,” Nowotny told reporters in Vienna today. “A debt limit in the constitution is increasingly becoming a necessity, this means we can’t fulfill an important European challenge.”

Nowotny, who also is a member of the European Central Bank Governing Council, declined to comment if a lack of a debt limit in Austria’s constitution may hurt its AAA rating.

To contact the editor responsible for this story: Zoe Schneeweiss in Vienna at zschneeweiss@bloomberg.net

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