March 18, 2008 at 6:00 am by Tom Lydon
An Austrian program that brings unpaid, experienced foreign workers to the country could spur its economy and, in turn, its exchange traded fund (ETF).
The program, called Amadeus, brings bright, young things to work in Austria’s top
businesses each year, and in place of pay is prestige,
gratitude and cultural experience.
David Hill for Weiner Zietung reports that the program began as a class project and soon evolved into a business.
It certainly couldn’t hurt the iShares MSCI Austria Index (EWO) to have these eager young minds in the country, working hard and learning new things.
Austria has been part of the European Union since 1999, and is a prosperous, Democratic country. The country has plenty of natural resources such as coal, oil, timber, iron ore, copper and zinc. The majority of Austria’s population is of working age (16-64), which could pay off in the long run.
The fund needs to mount a turnaround, though: year-to-date, it’s down 10.7% and it’s 8.6% below its trend line. Can it pull through?
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