His Serene Highness Hereditary Prince Alois of Liechtenstein Calls for Austerity. (VIDEOS)

In German

On March 27, 2013, His Serene Highness Prince Alois of Liechtenstein attended the opening session of Parliament in Vaduz.  According to AFP and Volksblatt, during yesterday’s session the prince gave a speech urging Parliament:

“…to prepare the Principality of Liechtenstein for austerity and to prepare a balanced budget as soon as possible.  The prince warned that forecasts for 2013 show a deficit of 172 million Euros which represents nearly a quarter of spending. The prince exclaimed ‘I see this situation with great concern for the long term good of our country…’

Liechtenstein has a AAA rating by Standard and Poor’s, which recently confirmed its rating with a stable outlook, highlighting that the Principality has stable institutions and a clear political line, which offers a guarantee of control of economic and financial challenges.”