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Austrian News
Austrian News: Read the latest headlines about developments in Austrian domestic politics with reference to the international interest
OeNB Reacts to EU-Commission´s Critique
The EU Commission warned Austria of the big lending exposure in Eastern Europe. According to the Austrian Central Bank, the CESEE region must be seen differantiated.
May 31, 2012
Austrian Business Location: Further Slump in Competitiveness
According to the Swiss Management Institute IMD, Austria only ranks 21th among 59 analyzed countries. The Austrian tax policy is the absolute weak point.
May 31, 2012
The Euro - A Big Error (Part 4)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 31, 2012
Switzerland Ratifies Tax Treaty with Austria
The Swiss National Council approved the tax deal with Austria. Illegal funds of Austrian nationals in Switzerland will be taxed.
May 30, 2012
Austrian Budget Target Endangered
In spite of decreasing revenues and rising expenses, Austria´s Minister of Finance Maria Fekter expects to reach the budget target.
May 30, 2012
„Something Is Wrong in Austria“
According to the Austrian Chamber of Labor, Austrian workers have to bear the highest burden of the crisis. The contribution of great fortunes would be insufficient.
May 30, 2012
Austrian Industry: „Growth Instead of Redistribution“
After the Austrian Chamber of Labor claimed he Federation of Austrian Industry underlines that Austria has the highest redistribution quota among OECD members.
May 30, 2012
Hypo Group: Further State Aids not Excluded
Johannes Ditz, chairman of the nationalized Hypo Group Alpe Adria, wants to sell about a third of the interests until 2014. In the end, losses are likely.
May 30, 2012
Exposure in Eastern Europe Remains Austria´s Weak Point
The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.
May 30, 2012
Austrian Proposal for EU Growth and Innovation Fund
In-depth discussion at the General Affairs Council on the multi-annual financial framework of the EU. Austria pushes for more economizations.
May 30, 2012
„Nabucco Is Still an Option“
Elshad Nassirov, Vice-Chairman oft he Azerbaijani gas company Socar, argues that BP´s statement about Nabucco was premature.
May 29, 2012
Nowotny: „Keeping Greece in Eurozone Has Highest Priority“
The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny thinks that ECB does not plan a new bond purchase program.
May 29, 2012
Spindelegger: „The Reform Process has Become Unstoppable“
42nd Viennese seminar of the International Peace Institute on the Arab Spring: Austria´s Foreign Minister is optimistic for the Arab community.
May 29, 2012
Switzerland: Resistance Against Tax Deal with Austria
Swiss parties are against the tax agreement with Austria. The social democrats and the Swiss People´s Party oppose the plan.
May 29, 2012
FMA Extends Ban on Short Selling
The Austrian Financial Marketn Authority extends the temporary ban on naked short selling of selected financial stocks.
May 29, 2012
The Euro - A Big Error (Part 3)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 29, 2012
Vienna´s Indebtedness Grows
Austria´s capital ignored the warnings of the Audit court and lets the debt burden grow further.
May 26, 2012
"Europe Needs Economic Growth and Budget Discipline“
Structural reforms are necessary to make Europe sustainably more competitive, Christoph Leitl, President of Austria´s Chamber of Commerce (WKO) says.
May 26, 2012
Fekter Emphasizes: „Eurobonds Do Not Solve Debt Problem“
Maria Fekter, Austria´s Minister of Finance, thinks that the idea of common bonds is no real solution, but only symptom fighting.
May 26, 2012
Attacks Against ÖIAG, Appeal on Government
The Austrian Chamber of Labor (AK) says that Telekom Austria´s main shareholder ÖIAG has failed. The works council fears a slow, but steady privatization.
May 26, 2012
Substantial Losses at Volksbanken
The main shareholders of Austrian VBAG had to write down € 333m last year.
May 26, 2012
Fekter: “Strengthen Partnership with Eastern Neighbours”
Austria´s Finance Minister Maria Fekter emphasizes the necessity of a closer political and economic integration needed with partners in the East.
May 26, 2012
Austrian Chamber of Economics Claims Growth Package
Christoph Leitl, President of the Austrian Chamber of Commerce thinks that Austria and Europe would both need growth and austerity measures.
May 25, 2012
Greece and Eurobonds Divide Austria
The Greek exit and the introduction of Eurobonds are discussed heatedly. In Austria, there is no clear tendency.
May 25, 2012
Hypo Group May Need Further State Aid
The directors of the Austrian Financial Market Authority (FMA) did not exclude that the nationalized Hypo Group Alpe Adria has a substantial capital shortfall.
May 23, 2012
Nowotny: „Austria is Safe“
The governor of Austria´s Central Bank (OeNB) Ewald Nowotny asserts that the economic stability in Austria is substantially better than in other regions of the Eurozone.
May 23, 2012
Fekter Warns of Greek Exit
Austrias Finance Minister Maria Fekter sees enormous difficulties in the case of an exit out of the Eurozone. The Financial Market Authority (FMA) supports Fekter.
May 23, 2012
Green Party: “Telekom Austria was the Cash Cow“
Gabriela Moser (Green Party) calls the Austrian government to implement a telecommunication strategy. Under the ÖVP-FPÖ government, Telekom Austria was abused as “cash cow”, Moser says.
May 23, 2012
The Euro – A Big Error (Part 2)
The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 23, 2012
Austrian Industrial Sector Pushes for Austerity
The Federation of Austrian Industries sees still a huge potential to reduce public expenses and underlines the importance of the industrial sector.
May 22, 2012
Fekter: Hollande´s Suggestions are “Nonsense”
Vice-Chancellor Spindelegger and Finance Minister Fekter are strictly against the introduction of Eurobonds and any amendments of the Fiscal Treaty.
May 22, 2012
“Three Problems of Europe: Divergence, Indebtedness and Weak Banks”
The new director of the Austrian IHS (Institute of Advanced Studies) Christian Keuschnigg thinks that a Greek exit would have to take place suddenly.
May 21, 2012
Rothensteiner: Return to Drachma would be „Utter Chaos“
The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.
May 21, 2012
The Euro – A Big Error (Part 1)
The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 20, 2012
Austrian Health Insurance Funds Achieved Surplus
For the first time, all nine Austrian health insurance funds recorded positive result. In total, a surplus of € 291m was achieved.
May 19, 2012
Greek Exit: € 5.0bn Costs for Austria „In the Best Case“
Bank Austria´s chief economist Stefan Bruckbauer warns of exorbitant costs in case of a Greek exit out of the Eurozone. A common solution would be the better alternative.
May 19, 2012
OMV Faces Extraordinary Tax in Romania
OMV´s Romanian subsidiary Petrom is threatened by an extraordinary tax for oil companies. The tax should be introduced in 2013.
May 19, 2012
Sorger Underlines Austrian Crisis Management
The President of the Federation of Austrian Industries Veit Sorger reaffirms the necessity of austerity and investments of the private sector.
May 19, 2012
Androsch Criticizes Political Inactivity
The former Austrian Finance Minister and industrialist Hannes Androsch thinks that both austerity and growth strategies are needed and criticizes the government sharply.
May 18, 2012
„ECB Must Help Spain“
If real estate price in Spain fall further, Spanish banks were not able to bear that risk. A Greek exit could cost Austria up to € 10bn.
May 18, 2012
Keuschnigg: „Austria Needs More Federalism“
The new director of IHS (Institute of Advanced Studies) considers that a decentralization of the fiscal policy would bring more competition between the provinces.
May 18, 2012
Bank Secret: EU Commission is Frustrated
The European Commission is dissatisfied with Austria´s and Luxembourg´s blockage of the interest taxation directive.
May 16, 2012
Austria´s Bank Secret Endangered
„I will withstand.“ Maria Fekter, Austria´s Minister of Finance said. The resistance against the EU directive on the taxation of interest will not be given up, Fekter reaffirmed.
May 15, 2012
Keuschnigg Worries About Austria´s Competitiveness
The new director of IHS (Institute of Advanced Studies) Christian Keuschnigg suggests reforming the Austrian labor market. The welfare state would be too sophisticated.
May 15, 2012
A “Speech to Austria”? No.
The disenchantment with politics in Austria is as big as never before. An ambitious, but meaningless speech of Vice-Chancellor Spindelegger will not change the misery.
May 15, 2012
Eder: „Not Making Mistakes of UK and USA“
The CEO of Austria´s largest steel producer voestalpine warns of a de-industrialization in Europe. Today, the UK and the USA would regret their decisions of the past.
May 14, 2012
Greek Exit: Costs of € 7.7bn for Austria
Austria could have to bear costs of up to € 7.7bn if Greece leaves the Eurozone. Austrian guarantees amount to € 3.1bn.
May 14, 2012
Rise in Population Caused by Immigration
Demographic trends 2011: positive natural population increase, life expectancy rises by around 0.3 years. 35,600 people immigrated to Austria last year.
May 14, 2012
Keuschnigg: „Problem Countries Must Cut Wages“
The designated director of the Austrian IHS (Institute of Advanced Studies) thinks that a drastic wage cut in Greece, Portugal and Spain is inevitable.
May 12, 2012
„Combining Austerity and Growth Measures“
The Austrian Minister of Economics and the President of the Austrian Chamber of Commerce claim a European growth strategy without turning down austerity policies.
May 11, 2012
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