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Austrian Schilling has found support in Frank Stronach
Posted on: 23 Aug 2012  |   Tags: ,

Frank Stronach, Founder of Magna International Inc. has made a smashing entry into Austrian politics by calling to abandon Euro and accept Austrian Schilling. The scheduled parliamentary elections in 2013 will be an important factor deciding Austria’s future relation and role in Europe. Frank Stronach is a billionaire automotive parts baron and has formed a political party in Austria. He has said that “The currency is the economic reflection of a nation … You can create prosperity only by having your own currency in individual countries.” He also argues that Austria will better alone rather than pouring billions of Euros into bailouts of other weak euro zone countries. Opulentus AustriaThe rival political leaders and other delegates are of the opinion that Austria is mostly depended on exports. They argue that cut in exports will also result in cut down in jobs. This will affect Austria’s economy. Austria is a country with enormous opportunities for foreign investors and professionals. The country’s low cost living and high class life style impresses everyone. Austria allows foreign workers to come with a Red-White-Red (RWR) card. The RWR card will be issued to highly skilled workers, skilled workers in shortage professions and self employed workers. Overseas students who are pursuing their studies in Austria and have passed the final part of course in a diploma or a Master’s degree can remain a further 6 months for search of job. RWR Card is available in two different types.

  • RWR Card: Allows migrants to reside and work only with a certain employer
  • RWR Card plus: Allows migrants to reside anywhere in Austria and also entitles the person to unlimited labour market access
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