Vienna's Foreign and Bilateral Relations

Romania Needs More Time for IMF-Requirements

The financially stricken country did not implement the planned privatizations. EBRD criticized Romania´s slow progress.

January 23, 2013

Turkey Plans to Build World´s Biggest Airport

Until 2017, Turkey wants to build the biggest airport. In total, the new airport will handle up to 150 million passengers.

January 23, 2013

Komorowski: Poland Should Join Eurozone in 2015

Poland´s President Bronislaw Komorowski said that the country should decide whether to introduce the euro in 2015.

January 23, 2013

Czech Republic: Controversy About Benes Decrees

The second round of the Czech presidential elections is heating up. The candidate Karel Schwarzenberg was criticized harshly.

January 23, 2013

Croatia: Austerity Policy Faces Difficulties

Croatia´s Minister of Finance Slavko Linic thinks that the austerity policy cannot be continued.

January 22, 2013

Poland: Lower Growth Forecasts

The slowdown of the Polish economy continues. The government is becoming impatient.

January 22, 2013

“Costs of non-enlargement of the EU would be high”

Austrian Foreign Ministry wants discussion about more involvement of EU citizens in EU policy.

January 22, 2013

Rostowski Calls for Further Interest Cuts

Polish minister of finance Jacek Rostowski wants NBP (Polish National Bank) to lower the base rate further.

January 21, 2013

Most Czechs Are Pessimistic

A clear majority of the Czech citizens expects that their individual financial situation will deteriorate this year.

January 21, 2013

Poland´s Rating Not Endangered

According to the U.S. rating agency Fitch, Poland´s “A-“ rating is “robust”.

January 21, 2013

Hungary: Production of Main crops Decreases Sharply in 2012

In 2012, 25% less cereals were produced on a 2% larger area than in the previous year.

January 21, 2013

Czech Republic: Both Presidential Candidates Want to Join Eurozone

Unlike the outgoing President of the Czech Republic Vaclav Klaus, Milos Zeman and Karel Schwarzenberg are in favor of the euro.

January 19, 2013

Klaus Recommends to Vote not for Schwarzenberg

Czech President Vaclav Klaus will stay in office until March. Klaus does not want Karel Schwarzenberg to become his successor.

January 19, 2013 · Updated: January 19, 2013; 15:47

Poland: Credit Line Renewed

The IMF guarantees a credit line of € 26bn to the Polish government.

January 19, 2013

Czech Republic Decides to Enlarge Temelin Power Plant

Today, the Czech Ministry of Environment has approved the enlargement of the nuclear power plant in southern Bohemia.

January 18, 2013

Czech Republic: Czech Government Withstand Another Vote of Confidence

The stability of the Czech government is still doubtful. For the time being, the coalition can deal with the pressure from the opposition.

January 18, 2013

Hungary: Gross Earnings Grow Moderately.

Last year, gross earnings were up by 4.6%. As Hungary´s inflation rate comes at 5.7%, real earnings are still shrinking.

January 18, 2013

WSE Has New Management

Adam Maciejewski will replace Ludwik Sobolewski as CEO of Warsaw Stock Exchange.

January 17, 2013

Poland: FDI Inflow Increases Decently

Last year, Poland recorded only a small increase in foreign direct investments.

January 17, 2013

WSE Among Europe’s Top Five Markets by Value of IPOs in 2012

The WSE ranked #1 in Europe by the number of IPOs and #5 by the value of IPOs in 2012.

January 17, 2013

New Governor at National Bank of Ukraine

Mr. Mykola Azarov and Mr. Sergiy Arbuzov introduce a new Governor of the National Bank of Ukraine.

January 17, 2013

Hungary: Construction Output Decreases

In November 2012, construction output was down by 11.7% on the high base a year ago.

January 17, 2013

Euro Exchange Rate: Nowotny Contradicts to Juncker

According to Eurogroup-chief Jean-Claude Juncker, the exchange rate of the euro is “dangerously high”. Nowotny disagrees with Juncker.

January 16, 2013

Hungary: Poverty Grows Dramatically

More than 33% of Hungary´s citizens are at risk of poverty. Among the EU countries, Hungary ranks fifth.

January 16, 2013

“Strict rules and monitoring mechanisms for a healthy Europe”

Austria´s State Secretary Reinhold Lopatka discusses EU financial matters with Czech State Secretary Vojtech Belling.

January 16, 2013

Hungary: Sharp Decrease in Industrial Production

In November 2012, industrial gross output declined by 6.9% in volume compared to the same month of 2011.

January 16, 2013

Schwarzenberg Will Not Resign as Foreign Minister

The Czech presidential candidate and foreign minister Karel Schwarzenberg announced to remain in office until the second round of the elections.

January 16, 2013

Erste Group: Massive Write-Downs in Romania

The Austrian banking group reduces goodwill by € 300 million.

January 15, 2013

Hungary Has Highest Inflation Among EU Members

In December consumer prices increased by 5.0% compared to December 2011. I

January 15, 2013

NBP Expects Further Slowdown

Poland´s National Bank (NBP) forecasts an economic growth rate of 1.5% in 2013.

January 14, 2013

Ukraine: Inflation Shrinking Slightly

Mr. Oleksandr Petryk, Director of General Economic Department, has communicated that inflation stood at 0.2% in December 2012, with annual CPI inflation having declined by 0.2% for the first time in the past ten years.

January 14, 2013

Surprise in Czech Republic: Schwarzenberg Just Slightly Behind Zeman

The first presidential election round in the Czech Republic brought a surprise. Zeman ranks first with 24%. Schwarzenberg came in second place with 23%.

January 14, 2013 · Updated: January 14, 2013; 11:22

Romania: Ponta Promises Return to Growth

Prime Minister Victor Ponta underlines the necessity of austerity measures. This year, Romania´s public debt level will increase further, though.

January 12, 2013

Rostowski Wants Further Interest Cuts

Poland´s Minister of Finance calls NBP (Polish National Bank) to continue the expansive monetary policy

January 11, 2013

Czech Republic: Retail Trade Sector Declines

In November, sales in retail trade including the automotive segment after seasonal adjustment decreased by 0.6% at constant prices, month-on-month, and working days adjusted by 3.5%, y-o-y.

January 11, 2013

Belka: “We are at the Bottom of the Crisis”

Governor of NBP (Polish National Bank) Marek Belka expects a soon economic recovery.

January 10, 2013

Fekter: „We Almost Overcame the Crisis“

Austria´s minister of finance stresses the stability of the euro and points out that the economic crisis could be managed.

January 10, 2013

Poland: Euro Introduction Still Unpopular

Polish citizens still reject giving up their national currency. The government wants to persuade the people.

January 10, 2013

Poland: NBP Cuts Interest Rate Again

Poland´s National Bank has decided to lower the base rate for the third time in a row.

January 10, 2013

Czech Republic: Government Crisis Solved

The Czech government remains for the time being. Before, the smallest governing party seemed to leave the coalition.

January 9, 2013

Hungary Suffers from Capital Outflow

Hungary´s banking industry faces a substantial loss of confidence. More and more Hungarians shift their deposits to foreign banks.

January 9, 2013

Foreign Trade With Hungary Shrinks

External trade in goods showed a surplus of € 704 million in November. Exports and imports fell by 1.7% in 2012.

January 9, 2013

Czech Inflation Above EU Average

Consumer prices in December increased by 0.1% compared with November. The year-on-year rise in consumer prices decelerated to 2.4% in December (2.7% in November).

January 9, 2013

Generali to Expand into CESEE Region

The Italian insurance group wants to strengthen its market presence in central, east and southeast Europe. The minority stake in the Czech insurer PPF will be acquired.

January 8, 2013

NBP Plans Further Interest Rate Cuts

Further interest cuts are likely, NBP´s governor Marek Belka told FT in an interview.

January 8, 2013

Unemployment in EU: Austria Still Ranks First

At the end of December, the Eurozone´s unemployment rate reached 11.8%. In the EU, the unemployment quota comes at 10.7%

January 8, 2013

Poland: Unemployment Rate Grows Further

At the end of December, Poland´s unemployment quota reached 13.3%.

January 8, 2013

Hungary: Negative Development in Industrial Sector

In November 2012 – according to preliminary data – industrial gross output declined by 6.9% compared to the same month of 2011.

January 8, 2013

Hungarian Opposition Optimistic to Come to Power in 2014

Hungary´s opposition leader Attila Mesterhazy seems to be convinced that Prime Minister Orban will be replaced in 2014.

January 8, 2013

Rostowski Initiates Debate on Eurozone Accession

Poland´s Minister of Finance Jacek Rostowski wants to define a criteria catalogue for Poland in order to create the accession “safe and advantageous”.

January 7, 2013