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Austria - European Union Political News
Read the latest headlines about developments in Austrian - European Union (Brussels) politics with reference to the international interest
“No Real Wage Loss This Year“
In terms of real wages, Austria may face a trend reversal this year. In Southeastern Europe, by contrast, poverty is growing considerably.
January 21, 2014
„Only A Catastrophy Will Bring a Change“
Bestselling author Marc Friedrich criticizes the IMF sharply and thinks that the Basel III framework is “ridiculous”. The U.S. monetary policy is “doomed to failure”.
January 21, 2014
Serbia: "Kosovo Part of Whole Package"
Serbia hopes to join the union until the year 2020. The solving of the issue with Kosovo remains a key condition. Austrian Foreign Minister Kurz stresses the importance of the region becoming a part of the European Union.
January 21, 2014
Spindelegger Met Almunia: „Bank Aids Were No Issue“
Today, Austrian Minister of Finance Michael Spindelegger has met Commissioner for competition Joaquin Almunia.
January 20, 2014
Austria: Fischer Calls Upon Respect of Human Rights
At the New Year Reception for the diplomatic corps in Austria, President Heinz Fischer called upon the strict compliance to human rights.
January 20, 2014
Erste Group: Moderate Economic Recovery in Eurozone
Euro area sentiment indicators point to a continuation of the moderate recovery, according to Erste Bank.
January 20, 2014
Kotian: “Growth in CEE is Accelerating“
In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.
January 20, 2014
$ 1.0trn Capital Shortfall in European Banking Sector?
According to U.S. economists, the stress tests carried out by the European Central Bank are too soft.
January 16, 2014
Expansion Course of Austrian Banks Slowed Down
After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.
January 16, 2014
Citizens from CEE Major Benefit for EU
A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.
January 15, 2014
CESEE: Number of NPL Declining
According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.
January 14, 2014
Nowotny Sees Growth Potential in Eurozone and CEE
According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.
January 14, 2014
Basel III Framework to be Softened
The Basel Committee´s oversight body has amended the leverage ratio rules. For the banking industry, this step is an important success.
January 13, 2014
Eurozone: Further Capital Injections at Banks Expected
The Council of the European Central Bank (ECB) is holding a summit today. The low inflation rate in the Eurozone is still a dilemma for the monetary authorities.
January 9, 2014
RBI Expects Growth to Accelerate in 2014
2014 marked by growth recovery, according to RBI Research.
January 9, 2014
Slovenia: Growth through Diplomatic Network
Slovenian Finance Minister Karl Erjavec assured that throught diplomatic network the country’s economy will still be supported.
January 9, 2014
Hungary Amending Figures of Budget Deficit
Hungarian Finance and Economy Minister Mihaly Varga announced that the budget deficit of 2013 will be below the target after it was lowered dramatically.
January 8, 2014
Romania: Slight Increase in FX Reserves
In December 2013 FX reserves increased slightly compared to the previous month.
January 7, 2014
European Union: Private Trading of Banks to be Restricted
The European Union intends to severly restrict risky private trading of banks.
January 7, 2014
European Savers in Danger
Already this year, savers in the Eurozone may fear a compulsory tax on deposits, the Danish Saxo Bank says.
January 4, 2014
Eurozone: Number of Bank Credits Keeps Declining
The financial institutes in the Eurozone have been cutting back on granting credits. The lending for both business corporations and private persons has dropped by 2.3 percent.
January 3, 2014
Hungary: MKB Bank Sells Romanian Subsidiary
As announced in a statement Hungarian MKB Bank has sold its entire stake of its Romanian subsidiary.
January 3, 2014
Slovenia: Banking Sector Still in Turmoil
Small banks in Slovenia are reasons for concern in regard to their capital shortfalls.
January 3, 2014
Austria: FMA to Activate Whistleblower Hotline
At the beginning of this year the Financial Market Authority (FMA) in Austria has activated a “whistleblower hotline” for bank insiders to report about potential abuses.
January 3, 2014
Massive Change in Banking Landscape
The business model of banks comes more and more under pressure. In the next years, about the half of the bank shops will be closed, banking expert Hans-Gert Penzel predicts.
January 2, 2014
CEE: Economic Sentiment Cautiously Optimistic
The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.
January 2, 2014
Austria: Unemployment Rate at Record High
Last year the unemployment rate in Austria recorded its highest level in 60 years.
January 2, 2014
Slovenia: FDI to Remain Low in 2014
No improvement in increasing foreign direct investments in Slovenia is expected this year. The country has one of the smallest shares in inward FDI among EU member countries.
January 2, 2014
„Such Growth Rates Will not Return“
In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.
December 30, 2013
Hypo Group: „The Wrong Decisions were Made“
Johannes Ditz, former chairman of the Austrian nationalized Hypo Group Alpe Adria, thinks that the Austrian government could have avoided a massive burden for the taxpayers.
December 28, 2013
Hypo Group: Austrian Government Seems Aimless
Although the restructuring of the nationalized Austrian lender is one of the most pressing issues, the Austrian government could not present a sound concept yet.
December 27, 2013
Austria: Kapsch Delivers Warning to Policy-Makers
Georg Kapsch, President of the Federation of Austrian Industries (IV), is very cautious about economic growth in Austria and warns the policy-makers of a budget consolidation on the basis of expectations of growth.
December 27, 2013
Serbia to Receive Pre-Accession Assistance from EU
Today the European Commission adopted the 2013 national programme for Serbia under the Instrument for Pre-accession Assistance (IPA).
December 23, 2013
Slovenia: PM Bratusek Confident About Tackling State Debts
Even though the country is expected to issue new state bonds next year to tackle state debts Prime Minister Alenka Bratusek suggested that Slovenia does not require loans immediately.
December 23, 2013
Austria: New Government Already Disappoints in the First Week
In 2014, Austria will not achieve its fiscal objectives, new Minister of Finance Michael Spindelegger admitted. Austria´s fiscal situation is observed critically. The country faces a new austerity package.
December 23, 2013
Bulgaria: Economic Upturn Not Sooner Than 2015
As reported by Bulgarian daily Standart, an economist at World Bank pointed out that the country has not yet reached the economic situation of before the start of the financial crisis in 2008.
December 20, 2013
Slovenia: EU Commission Approves Bank Aid
On Wednesday the European Commission has approved state aid for five Slovenian banks.
December 19, 2013
Banking Union Completed
The Finance Ministers of the Eurozone have reached a compromise on the last pillar of the banking union. The deposit protection mechanism will come into power in 2015.
December 19, 2013
Wifo: Sluggish Growth Because of Weak Consumption
According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.
December 19, 2013
Slovenia: Three Arrestments at NLB
According to Slovenian authorities, three persons in the bank’s environment were arrested because of alleged malpractice.
December 18, 2013
Serbia: EU Accession Talks in January Fixed
Prime Minister Dacic considers results as “historic event” for Serbia.
December 18, 2013
Labor Costs: No Clear Trend in CESEE
In the Baltic countries and in Romania, unit labor costs rose most. In Slovenia and in the Czech Republic, by contrast, unit labor costs were down.
December 18, 2013
Austria: Major Banks Exhibit Significant Shortages in Core Capital Quota
Both Erste Group’s and RBI’s core capital quota is below the European average.
December 17, 2013
Banking Union: Bank Resolution as Hot Topic
The Finance Ministers of the Eurogroup countries are discussing the future of the banking union in Brussels today.
December 17, 2013
Czech Republic: Lowest Increase in Public Debts in 17 Years
According to the government’s Funding and Debt Management Strategy, public debt should exceed CZK 2,000bn by the end of 2016.
December 17, 2013
Slovenia: Bad Bank to Operate Longer than Expected
According to executive director Mannson, the collecting and selling of non-performing loans would take at least ten to fifteen years.
December 16, 2013
Austria: Opening Balance Reveals Massive Mountain of Debt
Public debts exceed the federal assets by more than double the amount, as revealed by the opening balance published by outgoing Finance Minister Maria Fekter last weekend.
December 16, 2013
Poland: Budget Bill Approved by Lower House
On Friday, the Polish lower house Sejm approved next year’s budget bill which schedules the budget deficit of PLN 47.6bn not to be exceeded.
December 16, 2013
Slovenia: Haircut for Junior Bondholders
Subordinated bond holders of the state-owned Slovenian banks will lose their investments completely. This is part of the recapitalization scheme.
December 14, 2013
BayernLB to Keep Hungarian MKB Unit
BayernLB’s plans to seperate from loss-making Hungarian affiliate MKB were not put on hold. Instead, the German bank wants to continue to push forward with austerity measures and cut jobs.
December 14, 2013
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