Austrian News

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

Faymann Demands Property and Inheritance Tax

Austria´s Chancellor Werner Faymann calls for a re-introduction of a property and inheritance tax.

September 17, 2012

Nowotny: „Fiscal Union Still Far Away“

Ewald Nowotny, governor of OeNB (Austrain Central Bank) does not believe in a quick implementation of the fiscal union.

September 17, 2012

Czech Republic: EU-Subsidies to be Cut Massively

Due to EU-aid manipulation, the Czech Republic will lose at least € 1.0bn.

September 15, 2012

Slovenia´s ESM Contribution to Reach € 137m

Until the end of October, Slovenia has to pay € 137m to the European Stability Mechanism.

September 15, 2012

Austrian Banks View Savers Protection to be Endangered

The planned unification of the deposit protection is met with skepticism at Austrian banks. As the details are not clear yet, the deposit protection is yet no issue anyway.

September 15, 2012

Hungarian Central Bank Call for Growth Stimulating Measures

In August, the Hungarian Central Bank cut the base rate by 0.25 percentage points. According to the Council, growth should be supported.

September 15, 2012

Klaus Does Not Want European Federation

The Czech President Vaclav Klaus rejects the idea of the head of the EU-Commission José Manuel Barroso.

September 14, 2012

Croatia´s Fight Against the Recession: More Austerity and Increase in Exports

According to Paul Krugman, the development of Croatia´s economy depends on the performance of the export-oriented industry.

September 14, 2012

Czech Public Debt Growing Rapidly

Until the end of the year, public debt is expected to increase to € 63.77bn. At the end of 2011, the public debt level came at € 58.5bn.

September 14, 2012

Austria Second-Largest Investor in Slovakia

Foreign Minister Spindelegger opens new Austrian Embassy premises in Bratislava and underlines the close economic ties between Slovakia and Austria.

September 14, 2012

Czech Republic Threatened of Downgrade

Because of its instable political situation, the Czech Republic may be downgraded. Debt service costs may increase substantially.

September 14, 2012

Slovenia: Guarantees to Reach € 4.0bn

As Slovenian banks suffer massively from non-performing loans, Slovenia´s Minister of Finance Janez Sustersic will provide guarantees for domestic banks of € 4.0bn.

September 14, 2012

Hungarian Central Bank Against Bank Taxes

According to the governor of Hungary´s Central Bank, the bank taxes are causing the lending freeze.

September 14, 2012

ESM: Austrian Budget Has Already Appropriated the funds

Austria´s share in the ESM comes to € 19.5bn. The capital share is about € 2.2bn. The Austrian Finance Ministry underlines the importance of the ESM.

September 14, 2012

Banking Union: Austrian FMA Wants to Integrate Eastern European Countries

According to the board of Austria´s Financial Market Authority, not only the banks of the Eurozone should be supervised.

September 13, 2012

Hypo Group Cuts Jobs in Italy

The Austrian bank continues its downsizing program. 118 out of 403 jobs will be reduced in Italy.

September 13, 2012

„The situation is inconvenient, but not dramatic“

In an interview with the Austrian newspaper Kurier, the Austrian Minister of Economics Reinhold Mitterlehner underlines that “we must keep our nerves”.

September 13, 2012

Nowotny: Not Overcharging ECB

Ewald Nowotny, governor of Austrian Central Bank (OeNB) argues that ECB should not control all banks.

September 13, 2012

Infringement Proceedings Against Hungary?

The Commission of the European Union is said to start infringement proceedings against Hungary because of the introduction of financial transaction taxes.

September 13, 2012

Banking Union: Poland Demonstrates Skepticism

Yesterday, the EU-Commission has made proposals regarding the banking union. The decision making process for non-Eurozone members would be unclear.

September 13, 2012

Spindelegger Welcomes ESM Decision

“Final start signal for euro rescue fund.” The Austrian Minister of Foreign Affairs is happy with the decision taken by the German Constitutional Court.

September 13, 2012

VAT Dispute: Necas Seeks Compromise

The Czech Prime Minister Petr Necas is optimistic that the instable government will survive. He wants to reach a compromise with the dissenters.

September 13, 2012

„Banking Union Must Not Become Burden for Real Economy“

The Federation of Austrian Industries (IV) underlines that the banking union must be competition-neutral. Above all, the real economy must not face liquidity constraints, IV says.

September 13, 2012

Austrian Chamber of Economics Supports ESM Decision in Germany

Austria´s Minister of Economics Reinhold Mitterlehner: “The decision of the German Constitution Court is an important signal for investments and will promote growth.”

September 12, 2012

Hungary: Difficult Negotiations with IMF

The relation between Hungary´s Prime Minister and IMF is chronically tensioned. Another delay of the conclusions of the negotiations is likely.

September 12, 2012

OECD: Czech Spending on Education too Low

The Organisation for Economic Cooperation and Development criticizes the Czech government. Expenditure on education only reach 4.8% of GDP, which is below the OECD average of 6.2%.

September 12, 2012

Fekter: “Relieved to have a clear Judgement”

Austrian Finance Minister Maria Fekter delighted at decision on ESM by German constitutional judges.

September 12, 2012

Orban to Visit Germany

In October, Hungary´s Prime Minister will be on an official state visit in Berlin in October.

September 12, 2012

Lopatka New State Secretary in Austrian Foreign Ministry

Reinhold Lopatka (Austrian People's Party - ÖVP) was sworn in as State Secretary in the Austrian Federal Ministry for European and International Affairs today by Austrian President Heinz Fischer.

September 12, 2012

“A new chapter begins for Kosovo”

Austrian Vice-Chancellor Michael Spindelegger underlined the success of the Ahtisaari UN Office in Pristina .

September 12, 2012

Tusk: Good Prospects to Become Head of EU Commission

According to the German magazine “Der Spiegel”, the Polish Prime Minister Donald Tusk is considered as favorite candidate for the next President of the EU Commission.

September 11, 2012

Serbia Lifts VAT Rate

In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.

September 11, 2012

Slovenian Crisis: Opposition Reassures

Recently, Prime Minister Janez Jansa warned of a national bankruptcy. For the opposition, Slovenia is far from declaring its illiquidity.

September 11, 2012

„I´m Concerned About the Atmosphere in Southeastern Europe“

In an interview with the Austrian newspaper “Presse”, the Croatian Minister of Foreign Affairs Vesna Pusic explains that Croatia still aims to become a member of the Eurozone. The Maastricht Criteria would not be fulfilled yet, she says.

September 11, 2012

City of Vienna Appeals against Third Landing Strip

Vienna Airport: The core shareholder appeals against the result of the positive environmental impact assessment. According to the City of Vienna, this is only due to formal reasons.

September 10, 2012

Romanian Romgaz to be Privatized

The privatization of Romgaz at Bukarest Stock Exchange may become Romania´s biggest IPO. According to the Romanian news agency hotnews, other big privatizations in Romania may be postponed.

September 10, 2012

Kapsch Against Excluding Greece

The President of the Federation of Austrian Industries (IV) thinks that the Austrian pension system shows a substantial savings potential.

September 10, 2012

Austrian Enterprises Complain About High Costs of Corruption

According to a study by Transparency International, about 20% of the interviewed enterprises feel affected by corruption.

September 10, 2012

World Economic Forum: Slovakia´s Performance Worsens

According to the World Economic Forum Competitiveness Report, Slovakia´s competitiveness slipped again.

September 10, 2012

Hungary: Bank Tax Intake Lower than Expected

The bank tax proceeds only reach 40% of the planned volume.

September 10, 2012

Slovenia: Juncker Calls for Reforms

The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”

September 10, 2012

Nowotny Hopes for ESM

The governor of OeNB (Austrian Central Bank) thinks that the bond purchases are not sufficient. Politics must help ECB, he argues.

September 10, 2012

Austerity Package: Czech Government Asks for Vote of Confidence

After the austerity package was disapproved by the Czech Parliament, the government resubmits the bill to the Chamber of Deputies.

September 10, 2012

Merkel and Faymann Reaffirm their Commitment to the Euro

The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.

September 8, 2012

ÖBB to Become Privatized?

In the summer talks of Austria´s public broadcaster ORF, Vice Chancellor commented that the founder of Magna Frank Stronach should acquire ÖBB (Austrian Railways). A highly controversial debate has begun.

September 8, 2012

Hungary: Orban Rejects IMF´s Conditions

This week, a list containing IMF´s conditions for a € 15bn loan became public. However, it is not known whether the list is a counterfeit. Not at this price and not in this way.” Hungary´s Prime Minister Viktor Orban said.

September 8, 2012

Temporary Surplus in Serbia´s Budget

Due to the VAT intake, Serbia faced a budget surplus in July. In June, Serbia recorded a massive deficit.

September 8, 2012

Czech Republic: No VAT Increase

The governing coalition failed in seeking approval by the parliament. In order to lower the budget deficit, the government intended to lift the VAT rates.

September 7, 2012

Kemler New CEO of ÖIAG

The former CEO of Hewlett Packard Austria was elected as new Chief Executive Officer of the Austrian Industrial Holding.

September 7, 2012

IMF: List of Demands against Hungary Became Public

The list contains demands of the IMF against Hungary and is the precondition for the safety loan of € 20bn. However, the list could be a counterfeit.

September 7, 2012