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The euro has provided risks and opportunities for the Austrian capital market and its participants. They have become an adjunct of euroland, which means less domestic interest in their home products. But, on the other hand, Austrian investors and institutions have more scope to expand on sectoral and product lines into an 11-country currency zone. So far the main impact has been negative. Volumes on the Vienna stock exchange fell by between 15% and 20% in 1999. |
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