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Vienna, 26.02.2019 Finance Minister Löger in favour of EU and regional discussions in Bavaria Meeting with State Minister Füracker and BMW Director of Finance Peter, against the backdrop of current EU developments

By invitation of the Bavarian State Minister for Finance and Home Affairs Albert Füracker, Austrian Finance Minister Löger visited Munich this Monday. One of the central topics of the summit were the impacts of Brexit. Bavarian businesses are closely enmeshed with the British economy - the most visible example of this is the automotive manufacturer BMW, which operates development and production sites in the UK for the “Mini” mark, amongst others.

It was for this reason that Finance Minister Löger’s first meeting was with BMW’s Director of Finance Nicolas Peter. At their meeting, Löger made reference to the preparations currently being undertaken in Austria. The Austrian FMF has launched a wide-ranging information campaign (particularly in the realm of customs) to prepare Austrian companies for the changes to the legal and tax environment.  

In his subsequent official speech at the Ministry of Finance and Home Affairs reception at the Munich Residenz, Finance Minister Löger accordingly emphasised the need to fight for the EU’s agenda.

Finance Minister Löger:  “In future, as well, the EU will only succeed in creating prosperity by ensuring open markets and safeguarding competition. What that means, importantly, is that we need to put all of our efforts into achieving a decisively pro-European result. As European governments, we have to do everything in our power to promote the European agenda that, for 60 years now, has created a period of peace and prosperity on our continent.”

In his speech, Löger called for the European nations to increase the competitiveness of the region and to safeguard the rule of law in Europe. One decisive element in the effort to do so is the pursuit of consistent budget policies. Löger stated that Bavaria, which has set the goal of eliminating the deficit by 2030, is a particularly significant partner for Austria in promoting this priority. 

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