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Austrian News
Austrian News: Read the latest headlines about developments in Austrian domestic politics with reference to the international interest
Austerity Package Takes Form
Although negotiations over the austerity package are not finished, first details are already known.
February 7, 2012
Innovation Index: Austria Falls Behind
Austria again loses in competitiveness: among the EU member countries, Austria occupies the eighth rank.
February 7, 2012
Euro-Crisis: Austrian Managers are Optimistic
In spite of the current euro-crisis, most Austrian managers believe that the currency will remain. Moreover, a deepening of the cooperation between EU-member states is expected.
February 6, 2012
Government: Dispute Over Pensions
The Austrian government parties SPÖ and ÖVP disagree over contributions by retirees. The austerity package is far from being resolved.
February 6, 2012
Mitterlehner: „Shortages in Russian Gas Supply Not Dangerous“
For The Austrian Minister of Economics, Reinhold Mitterlehner, the sudden cut in Russian natural gas supply is “no dangerous scenario”.
February 6, 2012
Privatization of Kommunalkredit Starts
The sale of the nationalized bank will start in the second half of 2012. For 2011, losses could reach up to € 150m.
February 4, 2012
Sorger „Focusing on Business Location“
The President of the Federation of Austrian Industries, Veit Sorger, reaffirmed the strengthen Austria´s economic competitiveness.
February 4, 2012
Constitutional Court: Bank Taxes in Line with Constitution
A complaint over bank taxes by Austrian banks was disapproved. According to the court, banks were primarily responsible for the economic crisis.
February 3, 2012
IPIC May Raise Stake in OMV
IPIC’s request to increase its stake in the Austrian oil and gas company OMV beyond 25% doesn’t require an approval by the Austrian Ministry of Economics.
February 3, 2012
Austerity: ÖVP Becomes Impatient
Negotiations between the coalition partners SPÖ and ÖVP are going on. ÖVP´s chairman Spindelegger locates an “incredibly big need of consolidation”.
January 31, 2012
Austria Still With Lowest Unemployment Rate in EU
Euro area unemployment rate stands at 10.4%. Austria has second-lowest youth unemployment rate.
January 31, 2012
FPÖ Wants Cuts in Spendings
The biggest Austrian opposition party suggests reducing public expenditures in order to reduce the budget deficit. Chairman Strache calls for a “subsidy brake”.
January 30, 2012
Felderer Attacks Austrian Government
The head of the Austrian Institute of Advanced Studies fiercely criticizes Austrian politicians. Felderer claims to put effort in the restructuring of public finance.
January 30, 2012
Romanian President Appreciates Erste Group´s Decision
Traian Basescu, President of Romania, is pleased with Erste Group´s announcement to continue its business in Romania.
January 28, 2012
Increase in IPIC´s Shareholding at OMV Approved?
Today, the Austrian Ministry of Economics announced to have decided over IPIC´s application. The Arab fund plans to increase its stake at OMV beyond 25%.
January 27, 2012
Austerity: Leitl and Sorger Call for More Effort
The Presidents of the Federation of Austrian Industries (IV) and the Chamber of Commerce (WKÖ) aim for re-gaining the “AAA” for Austria. The government should cut expenses instead of rising taxes.
January 27, 2012
After Downgrade of Vienna: No Consequences Expected
The Viennese financial senator Renate Brauner does not fear negative impacts on Vienna´s finance. This week, the city was downgraded by S&P.
January 27, 2012
Austrian Economy: Slowdown, But No Recession
The Federation of Austrian Industries (IV) says that Austria will not face a recession in 2012. Nevertheless, the economic slowdown is significant.
January 26, 2012
S&P Downgrades Austrian Provinces
The U.S. rating agencies lowers ratings for Upper Austria, Vienna and Tyrol from “AAA” to “AA+”.
January 26, 2012
Scharinger: „Rating Agencies Are Instruments of Torture“
The leaving CEO of RLB Upper Austria, Ludwig Scharinger, is convinced that Europe needs must make itself more competitive against the U.S. financial industry.
January 24, 2012
Capital Shortfall at Austrian Banks Could Decrease
Possibly Erste Group and Raiffeisen can lower their capital shortfall. The Austrian Financial Market Authority (FMA) is currently talking to EBA.
January 24, 2012
“Europe, quo vadis?”
Today, the 9th Vienna Congress com•sult takes place in Vienna. The central issue “Challenges of Leadership in Europe” is discussed, among others, by Lech Walesa, Hans-Dietrich Genscher and Avigdor Liberman.
January 24, 2012
Strache Claims Cut in Subsidies
The chairman of the Austrian opposition party FPÖ criticized the government fiercely for its fiscal policy.
January 23, 2012
Leitl: „Croatians are Most Welcome“
The President of the Austrian Chamber of Commerce is looking forward to Croatia´s EU accession in 2013.
January 23, 2012
Central Bank Act: Orban Gives In
Hungary waives the planned merger of the Central Bank and the Financial Market Authority. Yesterday, Austria´s Minister of Foreign Affairs visited Orban in Budapest.
January 21, 2012
Turkey Emphasizes Support for Nabucco
Besides the Russian South-Stream project, Turkey also shows support for Nabucco, where Austrian OMV is strongly engaged in.
January 21, 2012
VBAG No Systemic Bank Anymore
After the sale of VBAG´s subsidiary VBI to Russian Sberbank, the bank will not be systemic anymore, the Austrian Financial Market Authority announced.
January 21, 2012
Austerity: Unions Versus Industrialists
The Austrian trade unions want to impose property taxes, the Federation of Austrian Industries seeks cuts in spending.
January 21, 2012
Loss of “AAA“: Austrians Blame Politicians
For Austrians, the government did not take the threat of losing the “triple-A” serious enough.
January 20, 2012
Austrian Lending Restrictions Under Observation
The plan of the Austrian FMA and OeNB to restrict lending in CEE countries could be a violation of EU-law.
January 19, 2012
Government to Sharpen Austerity Measures
After the downgrade of Austrian sovereign bonds from „AAA“ to „AA+“ by S&P, the Austrian government aims to reach its austerity targets earlier.
January 17, 2012
Austrian Labor Market is Stable
The Minister of Social Affairs, Rudolf Hundstorfer, strikes a balance of the labor market in 2011 and refers to the lowest unemployment rate in the EU.
January 15, 2012
Downgrade: „It´s Time to Take Action“
The downgrade of Austria´s rating from “AAA” to “AA+” caused mixed reactions. The Austrian economy urges for structural actions.
January 15, 2012
Austria Has 2.2 Million Retirees
Against 2010, the number of retirees was up by 1.3%. The average retirement age did not increase, employment of older persons could improve.
January 14, 2012
Downgrade: Government Surprised and Criticized
For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.
January 14, 2012
Austria to Lose its AAA
According to partially confirmed market rumors, S&P will downgrade France and Austria.
January 13, 2012
Study on „Economic Freedom“: Austria Falls
In the global ranking of the U.S. “Heritage foundation”, Austria only occupies rank 28. The government would not introduce enough reforms, bureaucracy would be too high.
January 13, 2012
South Tyrol Claims Economic Independence
In order to reach the same economic growth level of Germany or Austria, South Tyrol offers € 15.0bn to Italy.
January 12, 2012
Pressure on Hungary Increases
The chairman of the Austrian Central Bank, Ewald Nowotny, sees no danger for Austrian banks from Hungary. EU and IMF criticize the Hungarian government.
January 11, 2012
Hungarian Crisis: BIS Warns Austria Insistently
A collapse of the Hungarian economy would hit Austria very hard, says the Bank for International Settlements (BIS). Austrian Banks have a high exposure.
January 9, 2012
ÖVP Does Not Exclude New Taxes Anymore
Against previous statements, the head of the Austrian conservatives, Michael Spindelegger, considers to introduce new taxes.
January 9, 2012
„Not Talking Down Austerity Policy“
Bernhard Felderer, head of the Austrian Institute of Advanced Studies (IHS), warns daily issued ideas for new taxes. First signs of a recovery are arising.
January 7, 2012
Austria Grants Highest Subsidies in Europe
In 2010, subsidies amounting to 6.5% of the Austrian GDP were distributed. The EU-average is only the half.
January 7, 2012
Austrian Has Lowest Unemployment Rate in EU
Euro area unemployment rate at 10.3%, EU27 at 9.8%. Austria ranks first with 4.0%. Regarding youth unemployment, only the German unemployment rate is lower.
January 7, 2012
„We Are at the Tipping Point“
2012 will be a crucial year for Europe and Austria, says the director of the Austrian Institute of Economic Research (WIFO). The coming decade will be coined by debt reduction.
January 5, 2012
Austrian Economy Pushes for Austerity
In order to prevent new taxes, the Austrian Chamber of Commmerce and the Federation of Industries call for austerity measures.
January 5, 2012
Hungary Becomes Fundamental Risk Factor for Austrian Banks
Over the last weeks, fears of a Hungarian bankruptcy grew drastically. The Hungarian Forint has reached a new record low.
January 5, 2012
Rising Costs for Labor Market Service
The Austrian Labor Market Service (AMS) offered less trainings in 2011. However, costs rose up to € 455m. The AMS management faces critics.
January 4, 2012
Austerity Package: Business Association Warns of New Taxes
New taxes would be an “attack against the economy”, general secretary Peter Haubner says.
January 4, 2012
Dispute Over Part Time Work
The Austrian Chamber of Commerce and the trade union disagree over the advantages and disadvantages of part-time work for employees.
January 3, 2012
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