Austrian News

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

Growing Pressure on Viennese Location for Headquarters

The Viennese Chamber of Commerce intensifies the dialogue with international headquarters. In autumn, the first headquarter congress will take place in Vienna.

July 21, 2012

Slovakia: Bank Tax Should Reach € 1.0bn

The Slovakian government raised the bank tax up to 0.4% on deposits. Once the tax intake totals € 1.0bn, the tax should be abolished.

July 21, 2012

Slovenia in Financial Distress

In order to prevent becoming a bail-out candidate, the Slovenian government aims to resolve a „debt brake“. It turns out that this goal is highly uncertain.

July 21, 2012

"Wage Cuts in Southern Europe Inevitable"

Christian Keuschnigg, director of the Austrian Institute of Advanced Studies thinks that a fiscal union will not work. The recession in Southern Europe will go on.

July 21, 2012

Hypo Group: „As Little Bank Aids as Possible“

Hypo Group Alpe Adria´s CEO Gottwald is unhappy with reports that the state-owned bank may need further bank aids.

July 20, 2012

Fear of Capital Shortfall at Austrian Banks

The Austrian problem banks Hypo Group and KA Finanz may need further capital injections.

July 19, 2012

Fekter Does not Want to Bundle Austrian Problem Banks

As the public debt level would rise dramatically, Austria´s Finance Minister Maria Fekter rejects the idea of a common bad bank.

July 19, 2012

Nowotny: „Germany Has Key Function“

The governor of OeNB (Austrian Central Bank) is against forced loans in Austria. Regarding Eurobonds, Germany as Europe´s biggest economy would have the key function.

July 18, 2012

Austria Plans „Young Entrepreneur Funds“ Worth € 110m

The Austria Ministry of Finance and the Ministry of Economics present a „young entrepreneurs scheme“.

July 18, 2012

Vienna Stock Exchange Claims to Abolish Security Gains Tax

In April, transactions were down by 25%, CEO Michael Buhl says. Since December turnover fell dramatically at Vienna Stock Exchange.

July 18, 2012

Nowotny to be Re-Elected

The governor of OeNB (Austrian Central Bank) Ewald Nowotny is said to be re-elected in his current position.

July 18, 2012

„IMF Is Not Our Enemy“

Hungary´s Prime Minister Viktor Orban returns to the bargaining table. The country needs up to € 20bn.

July 17, 2012

Fischer Signs ESM and Fiscal Pact

The Austrian Federal President Heinz Fischer approves the parliamentary referanda on the highly controversial ESM and Fiscal Pact. Now, only a constitutional complaint may prevent these issues.

July 17, 2012

Switzerland: Popular Vote on Tax Treaty with Austria?

The bilateral tax treaty should bring Austria up to € 1.0bn After the treaty is signed and ratified, a popular vote may prevent the deal now.

July 17, 2012

Bulgaria Aims to Join Eurozone

Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.

July 16, 2012

Fekter Against Forced Loans

Austria´s Finance Minister Maria Fekter opposes to DIW´s suggestion to impose forced loans on wealthy persons.

July 16, 2012

“The time has come to design the EU of the 21st century”

„Europe – Quo Vadis?“ The Austrian Foreign State Secretary Waldner opens the Forum Europe in Styria with a keynote speech.

July 16, 2012

Poland Not to Enter the Eurozone Soon

For the time being, Poland will keep the Zloty. After the Eurozone has managed the current crisis, an accession is conceivable, Foreign Minister Radoslaw Sikorski says.

July 14, 2012

Austrian Municipalities Suspected to Hide Public Debt

About 40% of Austrian municipalities source out public debt. The size of hidden public debt could reach up to € 10bn.

July 14, 2012

Hungary: IMF Talks Begin Next Week

The financially stricken country seeks a second bailout by IMF. Hungary negotiates over a loan sized € 15bn.

July 14, 2012

SPÖ Supports Idea of Forced Loans

Like their German counterparts, the Austrian Social Democrats want to introduce forced loans for rich persons.

July 14, 2012

Austrian Opposition Parties Fight Against Fiscal Pact

The three Austrian opposition parties FPÖ, The Greens and BZÖ announced to bring a complaint of unconstitutionality against the Fiscal Pact.

July 13, 2012

Grexit would Cost Austria € 11.0bn

The Brussels-based think tank CEPS states that Austria would have to bear costs of € 10.9bn in case of a Greek exit out of the Eurozone.

July 13, 2012

VBAG-Restructuring Proves Problematic

In March, the Austrian VBAG Banking Group became partly nationalized. A new CEO has not been found yet.

July 12, 2012

Stability of Austrian Budget Endangered

Public expenses are on the rise. At the same time, the tax intake shrinks. Economist Felderer warns of expensive election gifts.

July 12, 2012

Austrian AAA „Not in Danger“

The Austrian economist and chairman of the public debt council Bernhard Felderer thinks that Austria will keep its Triple-A rating. Felderer´s statement is not undisputed.

July 12, 2012

Crossing Borders - Expectations towards Europe

From Date: Saturday, September 1, 9:00 am to 2:00 pm, the Alpbach Closing Event “Crossing Borders - Expectations towards Europe” takes place.

July 12, 2012

Fischer Wants to Check ESM

Austria´s Federal President Heinz Fischer does not sign the ESM approval by the Austrian Parliament yet. „I am not under time pressure.“ he says.

July 11, 2012

IMF: New Central and Eastern European Constituency

Austria, Belarus, the Czech Republic, Hungary, Kosovo, the Slovak Republic, Slovenia and Turkey have established a Central and Eastern European Constituency at the International Monetary Fund.

July 11, 2012

“Creating living spaces - how will we live in the future?”

From Friday, August 31, 9:30 am to Saturday, September 1, 12:45 pm, the Alpbach Forum will treat the topic of urban development.

July 11, 2012

Banking Supervision: Nowotny Warns of Botch

The governor of the Austrian Central Bank (OeNB) thinks that the timeline fort he planned unified banking supervision authority is „very short“.

July 10, 2012

“The Future of Banks and Financial Markets”

From Thursday, August 30, 2:00 pm to Friday, August 31, 5:45 pm the Alpbach Financial Market Symposium 2012 will take place.

July 10, 2012

Slovakia: Flat Tax to be Abolished

This summer, the Slovakian government will resolve a package of 22 measures in order to fight public debt.

July 10, 2012

Big Exposure in Foreign Currency Loans

In Austria, domestic banks have outstanding foreign currency loans of € 51bn. In CESEE countries, the exposure comes at € 130bn.

July 10, 2012

Austrian Industry Urges Government to Continue Austerity Policies

The Austrian government has to perform its job in order to retain competitiveness and economic growth in future. Finance Minister Fekter is highly satisfied with the government´s economic report.

July 10, 2012

Croatia Abolishes Mobile Service Tax

Today, the Croatian Parliament decided to abolishes the 6% mobile service tax. For Telekom Austria, this means a substantial relief.

July 10, 2012

Economic Report: „Reducing Dependence on Europe“

Today, the Austrian government published its "Economic Report 2012".

July 9, 2012

Nowotny on Greece: „We Do Not Have Unlimited Time“

Ewald Nowotny, the governor of OeNB (Austrian Central Bank) is concerned about the Greek austerity program.

July 9, 2012

Hungary Plans to Boost Economy

With a € 1.0bn programme, the Hungarian government aims to create more jobs and stimulate consumption.

July 9, 2012

OeNB Calls Austrian Banks to Improve Equity Base

Presentation of the 23rd Financial Stability Report of OeNB (Austrian Central Bank): Austrian Financial System Influenced by Tensions in the International Financial Markets.

July 9, 2012

Large Saudi Delegation in Vienna

A memorandum of understanding in Austrian Federal Economic Chamber between the Austrian Republic and the Kingdom of Saudi Arabia will be signed.

July 9, 2012

Alpbach Economic Symposium 2012

From Tuesday, August 28, 2:00 pm to Thursday, August 30, 12:15 pm, the Future of the Social Welfare State in Europe will be discussed at the Alpbach Economic Symposium 2012.

July 9, 2012

Hungary: Negotiations on IMF Loan to be Concluded in Autumn

Since January, the Hungarian government tries to secure a € 15bn loan by IMF and the European Central Bank. A final solution may be found in the next months.

July 7, 2012

Alpbach Legal Symposium 2012

Under the motto “Acceptance of Law in Rapid Decline?”, the Alpbach Legal Symposium 2012 will be held from Monday, August 27, 3:00 pm to Tuesday, August 28, 12:45 pm in the Congress Centrum Alpbach.

July 7, 2012

ESM Approved by Austrian Parliament

The controversial European Stability Mechanism was ratified by the Austrian National Council. The right opposition parties criticized the approval massively.

July 6, 2012

Alpbach Political Symposium 2012 “Providing for Future Generations”

From Sunday, August 26, 3:00 pm to Tuesday, August 28, 12:30 pm, the Alpbach Political Forum will be held in the Congress Centrum Alpbach.

July 6, 2012

ÖIAG Looking for New Leader

After the resignation of Markus Beyrer, the Austrian publicly held ÖIAG (Austrian Industrial Holding) seeks for a new CEO.

July 5, 2012

Alpbach Forum “Lobbying and Networking in the European Union”

From Saturday, August 25, 9:00 a.m. to Sunday, August 26 1:45 p.m, the Alpbach Forum will deal with lobbying and networking in the EU.

July 5, 2012

Global Future - Expectations in Science and Technology

The Alpbach Technology Forum as part of the European Forum Alpbach is the largest platform for a research- and technology-related debate in Austria.

July 4, 2012

IMF: Austria Has Favorable Economic Fundamentals

IMF in Washington DC analyzes Austrian macroeconomic outlook and is satisfied with the consolidation path.

July 4, 2012