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Austria - Domestic Political News

Austria: Economic Recovery Remains Modest

Political clouds over economic recovery.

April 1, 2014

Hypo Group: Settlement Rejected by BayernLB

The majority stockholder of BayernLB, the former parent company of Hypo Group Alpe Adria, is not willing to negotiate about a settlement with the Austrian problem bank.

April 1, 2014

Hungarian Recovery Remains Shaky

Last year, Hungary´s government successfully managed the economic turnaround. Nevertheless, Hungary´s growth remains artificial.

March 31, 2014

Ten Years After The 2004 EU Enlargement: Achievements and Next Steps

International Conference, Vienna, 24-25 April 2014

March 31, 2014

Romania: Key Interest Rate Remains Unchanged

The central bank of Romania has left the main interest rate unchanged.

March 31, 2014

Slovenia: Danger of Tax Increase

Because of the failed introduction of the property tax Finance Minister Uros Cufer suggested an inrease in VAT to compensate for the losses in revenue.

March 31, 2014

Austria: State Revenues Increased

In 2013 the Austrian budget deficit came at 1.5 percent of GDP wile public debts increased to 74.5 percent of GDP.

March 31, 2014

Slovakia: Kiska Won Against Fico

Prime Minister Robert Fico has received a heavy defeat. For the first time in Slovakia´s history, an independent candidate becomes President.

March 30, 2014

Sikorski: Ukraine Close to Deal with IMF

Poland´s Minister of Foreign Affairs Radoslaw Sikorski explained that the talks between the IMF and Ukraine have made substantial progress.

March 29, 2014

Austria: VBAG Downgraded to Junk Status

Moody´s has lowered VBAG´s rating. According to the rating agency, the partly nationalized Austrian bank has no investment grade anymore.

March 29, 2014

KA Finanz: No More State Aids Necessary

The nationalized Austrian bad bank has finished the loss-making sale of credit default swaps. In the last six years, KA Finanz has downsized radically.

March 29, 2014

Slovenia: Controversial Property Tax Fails

The Slovenian Constitutional Court has rejected the controversial property tax suggested by the government. This will jeopardize this year’s budget.

March 28, 2014

Hypo Group: “The People are Really Pissed Off“

According to Werner Kogler, financial spokesman and deputy party leader of the Austrian Greens, the Hypo commission appointed by the government is an “intolerable escape attempt”.

March 28, 2014

Leitl: “Growth Must Not Mean Less Reforms”

Economic growth is now weaker than in the previous phases of upturn.

March 28, 2014

Hypo Petition Puts Pressure on Austrian Government

The support of the online petition for the establishing of an investigation committee has gained more than 105,000 supporters which puts increasing pressure on the government.

March 28, 2014

Austria: S&P Confirms Rating

US rating agency Standard & Poor’s has confirmed the Austrian rating at “AA+” with a stable outlook.

March 28, 2014

RBI to Keep Hungarian and Ukrainian Affiliates?

Raiffeisen Bank International (RBI) considers keeping its affiliates in Hungary and Ukraine.

March 27, 2014

Serbia: Little Faith in Judiciary

The majority of the Serbian population does not trust state institutions, particularly the judiciary.

March 27, 2014

Poland to Fulfill EU Commission’s Regulations

According to Polish Finance Minister Mateusz Szczurek, Poland will have no difficulties fullfilling the standards set by the European Commission with regard to the budget deficit.

March 27, 2014

Austria: Economic Growth Slowly Getting in Gear

Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.

March 27, 2014

Slovenia: Chaos around Real Estate Tax Continues

On Thursday the Slovenian National Assembley will pass amendments to the highly debated real estate tax.

March 27, 2014

Austria: Hypo Commission Soon Ready to Investigate

The government’s commission for the investigation of Hypo Group’s nationalization is supposed to begin its assignment in one or two weeks.

March 27, 2014

RBI: Profit Shrinks by Almost A Quarter

RBI with consolidated profit of € 557 million Austria’s most profitable bank for the fourth time.

March 27, 2014

Serbia: Program for New Government in Progress

The future government will have to implement extensive reforms. Vucic, whose party saw a landslide victory in the parliamentary elections, is working on the government’s program.

March 26, 2014

Raiffeisen Group: Uncertain Future

On Thursday Raiffeisen Bank International (RBI) will present the annual figures of 2013.

March 26, 2014

Poland: Good Starting Point for Economic Growth

Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.

March 26, 2014

BayernLB Threatens Hypo Group with Damage Claims

BayernLB, former parent company of Hypo Group Alpe Adria International, is threatening to claim damages from its former affiliate.

March 26, 2014

Hungary: 20th Consecutive Interest Rate Cut

The Hungarian central bank has cut the key interest rate by 10 basis points to 2.6 percent.

March 26, 2014

Austria: High Support for Hypo Group’s Investigation Petition

According to a decision in the petition committee, the online petition for the investigation of the nationlization of ailing Hypo Group Alpe Adria will be open for signing until the next committee meeting in June.

March 26, 2014

Poland: Economy Proves Immune to Ukrainian Crisis

According to Governor of the Polish National Bank (NBP) Marek Belka, the Polish economy has so far proved stable and almost remained unaffected by the political crisis in Ukraine.

March 26, 2014

Hungary: Orban Striving to Become PM Again

In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.

March 26, 2014

Poland: Promising Years Ahead

Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.

March 25, 2014

Real Estate in Vienna: Offer Does Not Catch up Demand

There is a growing trend towards population increase as well as small households in Vienna.

March 25, 2014

World Bank: Serbia Has Nine Month to Implement Reforms

According to Tony Verheijen, the World Bank’s Country Manager of Serbia, Serbia has nine month to implement the reforms necessary.

March 25, 2014

Spindelegger: Investigation Committee “Counterproductive“

According to the Finance Minister, an investigation committee would only worsen the negotiation position with BayernLB.

March 25, 2014

Poland: Pension Reform Not to Affect Rating

According to rating agency Fitch, Poland’s country rating will not be affected by the pension reform.

March 25, 2014

Hypo Group: Spindelegger Still Rejects Investigation Committee

Today the opposition will call for a joint request for a parliamentary investigation committee with regard to ailing bank Hypo Group.

March 25, 2014

Austria: No Changes to Land Transfer Tax

There will be no tax hikes in the near future concerning the inheritance of property within families. The draft law of the Finance Ministry also includes the exemption of business successions.

March 24, 2014

Serbia: President Announced “Pro-Serbian Government”

Tomislav Nikolic, Serbian President, announded the future government to be pro-Serbian.

March 24, 2014

Austria: Hypo Petition to be Continued

The online petition for the establishing of a parliamentary investigation committee will not be stopped by the Austrian government, consisting of SPÖ (Social Democrats) and ÖVP (Austrian People’s Party).

March 24, 2014

Slovenia Looking for New Investors

In an attempt is looking for new investors the small Eurozone member country is starting a series of roadshows in Europe starting from Monday.

March 24, 2014

Serbia Wants to Keep Balance Between Russia and EU

Serbia´s Prime Minister Ivica Dacic does not want to stab Russia in the back. At the same time, Dacic keeps an eye on Brussels.

March 24, 2014

Czech Growth to Speed Up

Due to the increase in foreign demand, the advisory company EY expects the Czech economy to revive this year.

March 24, 2014

Faymann Does Not Rule Out Economic Sanctions Against Russia

Austrian Chancellor Werner Faymann wants to avoid further conflicts with Russia and to put effort into diplomacy instead. Economic sanctions are no taboo, though.

March 24, 2014

Zeman Wants Ukraine to Cooperate with Brussels

According to Czech President Milos Zeman, Russia´s occupation of the Crimea is a “cold-bloodedly” step against the Ukraine. The crisis-ridden country should work together more closely with the EU.

March 22, 2014

Serbia to Continue Talks with IMF

Serbia's Minister of Finance Lazar Krstic announced that an International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement shortly after a new government is formed.

March 21, 2014

Austria: Petition Around Hypo Group to be Stopped

The stop of the online petition for a parliamentary investigation committee seems to be unavoidable. The opposition claims the government is trying to “choke off” democracy.

March 21, 2014

Hypo Group: € 1.43bn Required This Year.

A total capital need of € 1.43bn is forecast by the ailing bank.

March 21, 2014

Slovenia: Considerably Fewer Building Permits Issued

Almost a quarter fewer building permits were issued in January in Slovenia.

March 21, 2014

Hypo Group: More than One Billion Required?

As reported by Austrian radio station Ö1, part of the Austrian Broadcasting Corporation ORF, ailing Hypo Group Alpe Adria will require € 1.1bn this year from the state.

March 21, 2014