Calendar of Economic Events. Fourth Quarter 2015

For the first time in seven years the US Fed raised its interest rates. The influx of refugees from the war and crisis zones in the Middle East and Africa to Europe leaves EU and western Balkan countries faced with enormous humanitarian, political and economic challenges. The EU promises to pay 3 billion € to Turkey to help provide for its current intake of 2.5 million refugees. Negotiations to join the EU will be accelerated. The new climate protection agreement concluded in Paris is a step towards an exit from burning fossil fuels. Measures against tax optimisation as exercised by transnational businesses are being developed by 62 countries which together are home to 90 percent of the global economy. – The Austrian Parliament adopts the Federal Financial Act of 2016, but the Fiscal Council considers it in breach of the structural budget regulations. The federal government and the social partners decide on a labour market stimulation package.