Austrian News

Bank Secret: Brussels Increases Pressure on Austria

EU-Commissioner Algirdas Semeta calls Austria and Luxembourg to give up their blockade against the reform of the interest taxation directive.

January 14, 2013

CESEE: Chakrabarti Expects Stabilization

In an interview with the Austrian news magazine „Standard“, EBRD´s President Suma Chakrabarti demonstrates cautious optimism. 2013 will be a better year for the CESEE region, he says.

January 14, 2013

Slovakia Wants to Strengthen Co-Operation with Austria

After a meeting between Slovak Prime Minister Robert Fico and President of Austria´s National Council Barbara Prammer, both emphasized their willingness to realize more common projects in future.

January 14, 2013

Serbia: Time Pressure Grows

In order to become an EU-member, Serbia must present some substantial progress to Brussels.

January 14, 2013

NBP Expects Further Slowdown

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

January 14, 2013

Bulgaria Continues Expansive Monetary Policy

In November money supply measured by means of the aggregate M3 returned to a more accelerated growth: 10.1% on an annual basis, Raiffeisen Research states.

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

Austria: Public Debt Has Reached New High

At the end of 2012, Austria´s financial debt has totaled € 189.5bn. Against 2011, this is an increase of € 6.5bn.

January 12, 2013

Only Small Budget Deficit in Bulgaria

The cumulative balance remained at -0.1% of GDP. Bulgaria only records a minor deficit of BGN 31m, Raiffeisen Research reports.

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

Labor Time: Austrians Rank Second in EU

Only employees in the UK record more weekly working hours. On average, the working time came at 41.8 hours per week in Austria.

January 10, 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

Klaus Meets Merkel

Czech President Vaclav Klaus wants to persuade Merkel to stop the integration process in the EU.

January 10, 2013

Moody´s: Slovak Austerity Plans Not Realistic

According to the U.S. rating agency, the deficit reduction plan may be too ambitious.

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

Slovenia: Jansa Receives Support

Slovenian Prime Minister Janez Jansa receives support from his party SDS. The government crisis continues, though.

January 10, 2013

Serbia: Public External Debt Shrinks

In total, public debt grew by 1% in the third quarter of 2012. The debt-to-GDP ratio falls slightly.

January 10, 2013

Lithuania´s Financial Assets Growing Substantially

In the third quarter of 2012, the annual growth rate of Lithuania’s financial assets (6%) exceeded that of liabilities (5%).

January 10, 2013

Serbian Government Emphasizes Need of Austerity

The government in Belgrade has prepared a fiscal consolidation program. In the next years, the public debt quota is expected to decrease slightly.

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

Serbia to Sign Loan Agreement with Russia

Tomorrow, Serbia´s Minister of Finance Mladjan Dinkic will visit Moscow.

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

Slovenia to Cut Corporate Tax Rate

In order to improve the labor market situation, the Slovenian government has decided cut the corporate tax quota by three percentage points.

January 9, 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

Nowotny Expected to Remain for Full Term

Finance Minister Fekter thinks that Nowotny will not resign before the end of his new term.

January 9, 2013

Slovenia: Government in Crisis

After severe allegations of corruption, Slovenia´s government is under pressure.

January 9, 2013

Central Europe's Relations With the U.S.

Philip H. Gordon from the Bureau of European and Eurasian Affairs at the U.S.-Central Europe Strategy Forum, Center for European Policy Analysis (CEPA) in Washington, DC remarks on the issue of U.S. relations with Central- and Eastern Europe as follows.

January 9, 2013

Poverty: Romanian and Bulgarian Citizens Most Endangered

Regarding the poverty rate, Bulgaria, Romania, Spain, Greece and Lithuania are significantly above the EU average.

January 9, 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

OECD Criticizes Austria´s Anti-Corruption Policy

Austria’s enforcement of foreign bribery laws far too weak, but could pick up soon says OECD.

January 8, 2013

Poland: Unemployment Rate Grows Further

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

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

Serbia: Doubts About Economic Development

Milos Bugarin, President of Serbia´s Chamber of Commerce demonstrates skepticism regarding the economic outlook issued by the government.

January 7, 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

Nowotny Remains Governor of OeNB

According to insiders, Ewald Nowotny will be re-elected as governor of Austrian National Bank (OeNB).

January 7, 2013

Austrian Government Bans Speculation

Austria´s Federal government, Austrian provinces and municipal authorities reach agreement on a speculation ban. Finance Minister Maria Fekter: “Comprehensive Package of measures to combat speculation with tax revenues.

January 7, 2013

Hungary: No Mandatory Voter Registration

The Hungarian Constitutional Court rejected the law proposed by the government.

January 5, 2013

Austrian Industry: „Cutting Non-Wage Labor Costs!“

The Federation of Austrian Industries (IV) suggests boosting employment by reducing non-wage labor costs.

January 5, 2013

Aiginger Praises and Criticizes Austria´s Economic Policy

Although Austria´s economic situation is relatively satisfying, there is much improvement potential, the economist Karl Aiginger says.

January 5, 2013

Serbia: Government Expects Recovery

In 2013, the Serbians will not benefit from the economic recovery, Prime Minister Ivica Dacic says.

January 5, 2013

Croatia Faces Stagnation

Last year, Croatia´s economy shrank substantially. In 2013, the country will recover, economists say.

January 5, 2013

Poland Plans Bank Taxes

The Polish government considers introducing bank taxes in order to stabilize the banking sector.

January 4, 2013

„No Tax Reform Before 2016“

Christoph Leitl, President of the Austrian Chamber of Commerce, emphasizes that the government should focus on austerity measures.

January 4, 2013

Hungary: 55,000 More People in Work

In September–November 2012, the number of employed people was 3,925 thousand, 55 thousand more than a year ago. The employment rate of both men and women improved.

January 4, 2013

Poland: Government to Focus on Family and Employment

Poland´s Prime Minister Donald Tusk announced that the government aims to create more than 400,000 jobs this year.

January 4, 2013

EU Accession: Turkey Shows Self-Confidence

Turkey puts further pressure on Brussels. Until 2023, Turkey wants to become a EU member country.

January 4, 2013

Slovakia: Gasparovic Demonstrates Optimism

On the occasion of his traditional New Year´s speech, Slovakia´s President Ivan Gasparovic underlines that the country is able to manage the crisis.

January 3, 2013

Hungary: Dissatisfaction Grows

More than the half of the Hungarians is dissatisfied with the country´s government.

January 3, 2013

Poland: Public Debt Level Shrinks Slightly

At the end of 2012, the public debt level came at 53% of GDP. One year before, the quota stood at 53.5%.

January 3, 2013