Austrian News

Austrian News: Read the latest headlines about developments in Austrian domestic politics with reference to the international interest

Crucial Days for Slovenia

This week, Slovenia´s Parliament may decide on establishing a bad bank. After Prime Minister Janez Jansa warned of a national bankruptcy, the Slovenian opposition is under pressure.

September 26, 2012

Banking Package: Costs up to € 4.8bn

The Austrian Audit Court expects that the banking package will be much more expensive than it was said before. Moreover, the Audit Court criticizes the government massively. The control mechanism would be too weak.

September 26, 2012

Austria´s Finance Minister Delighted at Positive Moody's Rating

Maria Fekter: “Our Triple A confirms the reform path we have embarked upon.”

September 26, 2012

“European Union Not Endangered”

Austrian Vice-Chancellor Michael Spindelegger defends the euro at the renowned US university Harvard and emphasises Austria’s performance on the international stage

September 26, 2012

OMV Considers Joining Tanap

The Austrian oil and gas company intends to invest up to $ 7.0bn in the Turkish-Azeri project.

September 25, 2012

Poland: Joining Eurozone After Crisis

For the governor of the National Bank of Poland Marek Belka, entering the Eurozone is conceivable as soon as the Eurozone has recovered.

September 25, 2012

Austrian Employment Growing Moderately Until 2016

The Austrian economic research institute WIFO forecasts that 173,000 new jobs will be created until 2016.

September 25, 2012

Austrian Tax Deal with Switzerland Wobbles

The citizens´ movement in Switzerland has collected enough signatures in order to hold a popular vote on the tax deal with Austria.

September 25, 2012

Austrian Experts Urge for Pension Reform

According to experts, Austrian citizens should postpone their retirement by four to five years.

September 25, 2012

Austrian Elections 2013: Stronach Confirms Candidacy

This week, the former CEO of Magna Frank Stronach will present the program of his party. The name of the party is not fixed yet.

September 25, 2012

EU Calls Bulgaria to Intensify Fight Against Corruption

The European Union recommends Bulgaria and Romania to increase their effort regarding the fight against organized crime and corruption.

September 25, 2012

“EU administration must be screened for savings potential”

Austrian State Secretary Lopatka repeats Austria’s central demands at the General Affairs Council in Brussels.

September 25, 2012

Austria: Corruption on the Rise

Corruption causes damages of € 26bn in Austria. According to a study, 11% of the Austrian interviewees felt affected by corruption.

September 24, 2012

Public Debt: New EU Members Are More Flexible

Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.

September 24, 2012

Austrian Federal States and Municipalities Record Massive Rise in Debt

Since 2007, the debt level of Austrian federal states rose by 87%. In the same period, the Austrian Federation´s debt was up by 27%.

September 24, 2012

Macedonia to Stimulate Economic Growth

Due to the recession in the Eurozone, exports are shrinking. Next year, Macedonia will overcome the crisis, the local government says.

September 24, 2012

Austrian State Secretary meets Russian Deputy Foreign Minister Titov in Moscow

Lopatka “Relations with Moscow are rooted in solid ground in all fields and are continuously expanded”

September 24, 2012

Waiglein Becomes Director of ESM

Austria´s Minister of Finance Maria Fekter mandates Harald Waiglein as member of the board of directors.

September 22, 2012

Serbia: „EU Cannot Force Us to Recognize Kosovo´s Independence“

The Serbian Prime Minister is ready to continue talks with Kosovo at a higher political level. For the EU, a recognition of Kosovo´s indepence is the precondition for Serbia´s EU accession.

September 22, 2012

Croatian EU-Accession: Slovenia as Obstacle

Slovenia may put a veto on Croatia´s EU accession. Croatia should withdraw lawsuits against the biggest Slovenian bank NLB, Slovenia says.

September 22, 2012

Serbia Attempts to Stop Rise in Public Debt

The Serbian government aims to achieve a balanced buget in 2014. Austerity measures should be sharpened.

September 22, 2012

Latvia: Introduction of the Euro Wobbles

The majority of the Latvians are against joining the Eurozone. The Latvian government is under pressure.

September 22, 2012

Poland´s Central Bank Retains Interest Rate

The Polish Monetary Policy Council held the base rate flat. Before, an interest rate cut of 50 bps or 25 bps were discussed.

September 22, 2012

Bulgaria Aims to Join the Eurozone

Ivan Iskrov, governor of Bulgaria´s National Bank explains that entering the Eurozone would be a long-term priority for the country.

September 22, 2012

Serbia to Privatize Publicly Held Companies

In order to reduce the budget deficit, the Serbian Minister of Finance Mladjan Dinkic plans to sell a part of the state-owned companies.

September 22, 2012

EU: Germany Biggest Net Payer, Poland Biggest Net Recipient

In 2011, Poland received EU-aids of € 11bn. Among the new EU members, Hungary ranks second. In terms of GDP, Hungary is the biggest beneficiary.

September 21, 2012

Breuss: „We Must Feed Them All“

The Austrian economist expresses his concerns regarding the second package for Greece.

September 21, 2012

Slovenia Creates Bad Bank

The Slovenian government aims to lower risky assets of the financially stricken banking sector. A major capital increase may be necessary.

September 21, 2012

Austria Claims Financial Transaction Tax

State Secretary Lopatka presents Austria’s positions to EU Commissioner Lewandowski.

September 21, 2012

ÖIAG to be Enlarged?

Publicly held companies like Verbund or Austrian Railways should be integrated into the Austrian industrial holding group.

September 21, 2012

Austrian Share of Academics Below OECD-Average

In Austria, only 21% of the persons aged between 25 and 34 are graduated. This is massively below the OECD-average of 38%.

September 20, 2012

Austrian Industry Claims Tax Cut

The Federation of Austrian Industries (IV) wants a tax relief. In the coming years, the tax quota should be reduced to 38%.

September 20, 2012

Austria to Pay higher Contributions to EU

In the next financial period of the EU from 2014 to 2020, Austria´s contribution will increase substantially. Austria calls for keeping the discount system.

September 20, 2012

Westerwelle and Sikorski Want a Stronger EU

The German and the Polish Ministers of Foreign Affairs wrote a common article in The International Herald Tribune.

September 19, 2012

Serbian EU Approach Endangered

The Serbian government rejects making concessions to Kosovo. The EU accession may be damaged, however.

September 19, 2012

Austrian Budget: One Third for Pensions and Interest Spending

The Austrian Audit Court published a report on the budgetary situation today. Last year, expenses “for the past” already came at € 24bn.

September 19, 2012

European Commission Approves State Aid for VBAG

The European Commission has today approved the comprehensive restructuring plan developed by Österreichische Volksbanken-AG (VBAG) in the wake of the financial and economic crisis to restore long-term profitability.

September 19, 2012

Costs of Austrian Banking Package: € 2.36bn

Since 2008, the Austrian government has resolved rescue packages worth € 21bn. Expenses totaled € 4.169bn, revenues reached € 1.814bn.

September 19, 2012

„Turkey has a Right of being a EU Member“

On the occasion of a visit in Vienna, the Turkish Minister of Economics Zafer Caglayan complains about the “disingenuous manner” of the EU towards Turkey. In the end, only Turkey will decide on the accession.

September 19, 2012

Ukrainian Delegation Has Begun Working Visit to the U.S.

Ukrainian official delegation headed by the Governor of the National bank of Ukraine - Sergyi Arbuzov arrived to the USA to begin a four-day working visit.

September 19, 2012

Emissions of Greenhouse Gases further Decreasing

Between 1995 and 2010, the Austrian emissions of air pollutants and greenhouse gases were reduced considerably in many cases.

September 19, 2012

Fekter: “Spanish Banks Need € 60bn”

According to Austria´s Minister of Finance Maria Fekter, the European Union focuses on Spain. A Greek exit would be no issue anymore.

September 18, 2012

IMF-Loan: Orban Demonstrates Optimism

According to Hungary´s Prime Minister Viktor Orban, the negotiations with IMF are proceeding on schedule.

September 18, 2012

Banking Supervision: Nowotny Warns of Over-Ambition

According to the governor of OeNB (Austrian Central Bank), it would be dangerous to establish new institutions without a democratic legitimization.

September 18, 2012

Klaus: Czechs Against Banking Union

The Czech President notes that the Czech Republic cannot achieve anything without a recovery of the European economy. However, it would be advantageous to stay outside the Eurozone.

September 18, 2012

Latvia: Fit for the Eurozone

According to Latvia´s Central Bank, the country will fulfill the Maastricht criteria by the end of the year.

September 18, 2012

Bulgarian President Wants to Attract Austrian Investors

On the occasion with a meeting between the Bulgarian President Rosen Plevneliev, the Austrian President Heinz Fischer and Lower Austria´s governor Erwin Pröll, Plevneliev underlined the importance of Austrian investors for Bulgaria.

September 17, 2012

Implementation of Banking Union to be Postponed

Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.

September 17, 2012

Eder Calls for Cut in Steel Production

The CEO of the Austrian steel producer voestalpine asks the European Union to introduce a controlled reduction of the steel production. The overcapacities would cause lower prices, Eder argues.

September 17, 2012

Poland Rejects Joining Banking Union

According to Poland´s Minister of Finance, a common supervision for banks is “not interesting”.

September 17, 2012