Austrian News

Slovenia: Jansa Rejects to Step Down

Despite the deep political and economic crisis, Slovenia´s Prime Minister Janez Jansa is clinging to power.

January 25, 2013

Poland Sells Shares in PKO

The share in the banking group decreases to 31.9%. Further privatizations are planned.

January 24, 2013

Tax Deal with Liechtenstein: Austria Expects Substantial Tax Intake

Austria and its small neighbor country Liechtenstein will sign a tax deal. The treaty between Switzerland and Austria is a role model.

January 24, 2013

Treichl: „BCR Will be Positive this Year“

Erste Group´s CEO Andreas Treichl thinks that the Romanian subsidiary Banca Commerciala Romania will not record losses in 2013.

January 24, 2013 · Updated: January 24, 2013; 21:58

Slovakia: Public Debt Quota Exceeds 50% of GDP

For the first time since 2000, Slovakia´s public debt level exceeds the 50% threshold.

January 24, 2013

Slovenia: Government Collapses

Yesterday in the evening, the conservative coalition member CL has terminated the co-operation with Prime Minister Janez Jansa´s party SDS. Not only the political situation in Slovenia is precarious, but also the economic outlook is highly uncertain.

January 24, 2013

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

Slovenia: Protests Against Austerity Cuts

Due to a general strike, Slovenia comes to a standstill. More than 100,000 public servants protest against social cuts.

January 23, 2013

Spindelegger Criticizes Cameron

Austria´s Foreign Minister: "Not cherry picking but more Europe is the key".

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

Erste Group´s CEO Wants to Create CESEE Stock Exchange

Andreas Treichl, CEO of the Austrian banking group, would like to create an alliance between CEE Stock Exchange Group (CEESEG) and Warsaw Stock Exchange (WSE).

January 23, 2013

Fitch: Austria´s Public Debt to Double

Due to the demographic trends, Austria faces a pension shock, Fitch says.

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

Slovakia Continues Austerity Measures

Slovak Minister of Economics Tomas Malatinsky underlines that the country must improve its attractiveness for businesses.

January 22, 2013

Austria´s Minister of Finance Pleased With Approval for Financial Transaction Tax

Participating States to present specific model soon, Maria Fekter says.

January 22, 2013

Europe of Tomorrow: The New Way of Thinking

Distinguished participants from industry, politics and the business community such as Václav Klaus, Jerzy Buzek, Franz Fischler, Martin Meyer, Jan Zielonka, Iain Begg, Prince Hans-Adam II of Liechtenstein are currently dicussing this issue in Vienna.

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

Fico: „Privatizations Were Our Biggest Mistake“

Slovakia´s Prime Minister Robert Fico thinks that the austerity policy in Europe is the wrong way.

January 21, 2013

Eder Reaffirms: „European Industrial Sector Is in Danger“

In an interview with the Austrian news magazine “Presse”, voestalpine´s CEO Wolfgang Eder criticizes the European industrial policy sharply.

January 21, 2013

WIFO Wants Higher Property Taxes

Karl Aiginger, director of Austrian Institute of Economic Research, suggests reducing wage taxes.

January 21, 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

Poland´s Rating Not Endangered

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

January 21, 2013

Vienna Airport Customs Office: Number of Seizures Was Up Significantly

"The Vienna Airport customs office’s annual announcement of its performance statistics once again confirms the outstanding work of Austria’s customs officials." the Austrian Ministry of Finance says.

January 21, 2013

Stepic on Austrian Banking Sector: „There is some Need for Reforms”

In an interview with the Austrian newspaper “Presse”, RBI`s (Raiffeisen Bank International) CEO Herbert Stepic explains that the current situation of the Austrian banking sector is ambiguous.

January 19, 2013 · Updated: January 19, 2013; 19:31

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

Russian Rosatom May Build Nuclear Power Plant in Bohunice

Because of the completion of the Czech nuclear power plants, the Czech energy company CEZ is expected to withdraw from the construction project.

January 19, 2013

Serbia: Dinkic Underlines Importance of South Stream Pipeline

The South Stream pipeline is a “national project” and of vital interest for Serbia, Minister of Economics Mladjan Dinkic says.

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

Austria: Corruption Is Costing Taxpayers € 17bn

A report issued by OECD analyzes the economic costs of corruption. In case of Austria, the damage totals about 5% of the GDP.

January 18, 2013

IMF to Visit Serbia Again

The International Monetary Fund underlines that Serrbia must reduce its public debt. At the same time, the government must stimulate economic growth, IMF says.

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

Serbia: Key Policy Rate Raised to 11.50 Percent

At its meeting today, the Executive Board of the National Bank of Serbia voted to raise the key policy rate by 0.25 percentage points to 11.50 percent.

January 18, 2013

Hungary Wants Tax Treaty with Switzerland, Germany and Austria

Hungary tries to levy a lump sum tax on deposits of Hungarian nationals in Switzerland, Germany, Austria, the UK and Cyprus.

January 17, 2013

Croatia: Dispute with Slovenia May Postpone EU Accession

In July, Croatia should become a member country of the EU. However, the legal dispute with Slovenia is still an obstacle. The neighbor country may cause a delay of Croatia´s accession.

January 17, 2013

OeNB Does Not Bring Gold Reserves to Austria

Unlike Deutsche Bundesbank, the Austrian National Bank (OeNB) does not transfer the gold reserves from London back home.

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

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

Euro Introduction: Latvian Government Hopes for Public Support

According to Latvia´s minister of Finance Andris Vilks, at least 50% of Latvian citizens should approve the euro introduction next year.

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

Nowotny: “The Worst Is Over”

OeNB´s (Austrian National Bank) governor Ewald Nowotny thinks that the economic situation in the Eurozone has become more stable.

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

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

Croatia: One Step Closer to the EU

According to their own statements, the Croatian government has fulfilled eight out of ten tasks, which must be finalized until July 2013. However, Croatia´s economic problems are far from being solved.

January 15, 2013

Stepic: „CESEE Region Faces Challenging Year“

RBI´s (Raiffeisen Bank International) CEO Herbert Stepic explained that central, eastern and southeastern Europe is still Europe´s growth engine.

January 15, 2013

"We invite the African Union to open an office in Vienna"

"Austria invites the African Union to establish an office in Vienna in the year marking the 50th anniversary of the African Union.” Austrian State Secretary Lopatka says.

January 15, 2013

New Elections in Slovenia?

The government crisis in Slovenia sharpens. Economists warn of a leftist coalition.

January 15, 2013

Fekter to Present Tax Reform Concept

In May, Austria´s minister of finance Maria Fekter (ÖVP) will present a new fiscal concept.

January 14, 2013