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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
Buwog Aquires Portfolio in Berlin
Buwog has once more acquired apartments at the German real estate market.
November 20, 2013
Hypo Group: Investors Claim Refunds
A group of aggrieved investors in Hypo Group Alpe Adria files claims for damages. These so-called small investors provided amounts from € 30,000 to € 300,000 and feel disadvantaged compared to bigger investors.
November 20, 2013
Capital Shortfall at European Banks
According to Boston Consulting Group, European Banks still have much work to do.
November 19, 2013
Austria: High Tax Country
According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.
November 19, 2013
OECD: Restructuring of Banks Required
The Organization for Economic Cooperation and Development (OECD) calls for a fast progress in the establishing of a banking union in the Eurozone and restructuring of the banking sector to boost economic growth.
November 19, 2013
„Not Enough Bank Insolvencies“
Andrea Enria, head of the European Banking Authority (EBA), claims that the banking landscape did not change sufficiently.
November 18, 2013
Nowotny: Economic Recovery not as Strong as Expected
According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), indicators point toward a slow recovery in the next quarters.
November 18, 2013
Slovenia Issues New Eurobonds
The issuance of a new bond in the amount of € 1.5bn on Friday came as surprise as Prime Minister Alenka Bratusek has annouced earlier no such measures will be made until the beginning of the new year.
November 18, 2013
Linic: No Aid from IMF Needed
According to Croatia´s Minister of Finance Slavko Linic, the country will manage the financial crisis on its own.
November 15, 2013
EU Commission Criticizes Austria Once More
The EU Commission has again criticized Austria and Luxembourg and demands the countries to stop blocking the extensive exchange of tax data.
November 15, 2013
Slovenian Government Wins Vote of Confidence
As expected, on Friday the Slovenian center-left government of Prime Minister Alenka Bratusek has won a vote of confidence.
November 15, 2013
Austria: Inflation at Lowest Level in Three Years
Inflation rate in Austria decreased to 1.4 percent.
November 15, 2013
Austria: Fekter Indicates Resignation
Even before the general elections in September rumors were circling around about Finance Minister Maria Fekter’s withdawal from her position.
November 14, 2013
EU Commission: Slovenia Makes “Key Progress”
Slovenia is among 16 EU member states that require comprehensive assessment of macroeconomic imbalances. According to a report published by the EU Commission, the small country shows significant improvement.
November 14, 2013
ECB Still Has Further Tools
In spite of the most recent cut of the key rate by the European Central Bank (ECB) there is still some leeway downward. However, measures will affect the exchange rate of the common currency.
November 13, 2013
Austria: Downsizing Options for Hypo Group under Discussion
In the discussion about establishing a downsizing unit for ailing bank Hypo Group Alpe Adria, several possibilities are taken into account.
November 12, 2013
Half of Austrians Consider the Country Stuck in Recession
According to an online survey, the Austrians are confident and not concerned by the most recent recession in the Eurozone. With a total of 87 index points consumer’s confidence remained stable in the third quarter of 2013.
November 12, 2013
Austria: Nowotny Rejects Mood of Opposition against ECB
Ewald Nowotny, governor of OeNB, rejects the idea of having been part of a protest group against the European Central Bank’s (ECB) most recent monetary measures by cutting the key rate to an all-time low.
November 12, 2013
Nowotny Against ECB’s Key Rate Cut
The governor of the Austrian National Bank has, according to reports, voted against the ECB’s most recent interventions.
November 11, 2013
Czech Republic: CNB to Intervene in Forex Market
After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.
November 11, 2013
Interest Rate Cut: “Very Effective Property Tax“
Economists have judged the ECB’s cut in interest rate differently. According to Brezinschek, chief analyst at Raiffeisen International, savers that are not involved in speculative investments will not benefit from the latest key rate cut.
November 8, 2013
Stable Outlook for Recovery of Austrian Economy
The outlook for economic improvement has stabilized. Both Wifo’s economy test and Wifo’s early indicator point to an upward trend.
November 8, 2013
Croatia Under Brussel´s Observation
The new EU member country fights against a number of economic problems. Now, the EU-Commission considers starting an excessive deficit procedure.
November 7, 2013
Eurozone: Key Rate At Record Low
Low inflation was reason for ECB to lower key rate again by 0.25 percent.
November 7, 2013
Austrian Banks Forced to Prepare in Case of Bankruptcy
From 2014 on, the Austrian Banks are required to start planning the emergency scenario in case of a liquidation in order to be able and react more quickly.
November 7, 2013
ECB to Keep Interest Rate Low
Despite a low inflation, the European Central Bank (ECB) will keep the interest rate low. The Council of ECB has held a meeting on Thursday morning
November 7, 2013
Bulgaria: Banks Have More Assets at Disposal
With more money available, banks in Bulgaria are now able to grant more loans.
November 6, 2013
Romania: Growth Rates to Exceed Forecasts
According to the autumn forecast published by the EU Commission on Tuesday, Romania will exceed the previous estimates.
November 6, 2013
Austria: Compulsory Levy on Assets Simply “Out of Question“
Top bankers and economists in Austria consider the compulsory levy of ten percent on household assets “out of question” and “ludicrous”.
November 5, 2013
Hypo Group: Restraining Effect on Budget Consolidation
According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.
November 5, 2013
Number of Banks Shrinks Substantially
Since 2008, about 10% of the banks had to be closed in the Eurozone. In the last five years, 16,200 bank shops were shut down. In Austria, the situation is almost the same.
November 5, 2013
Serbia: FDI as Driver for Economy
Further decline in FDI could affect economic growth in the Western Balkan state. The Serbian government announced to push forward with amendmends to improve business environment and boost economic growth.
November 4, 2013
IMF Wants to Introduce Compulsory Tax
IMF’s idea of introducing a compulsory tax on household assets could decrease state debt earns harsh criticism. Economists reject the idea.
November 4, 2013
Czech Budget Deficit to Remain Below Approved Mark
The budget deficit in the Czech Republic increased to CZK 47.7bn in October from CZK 38.2bn in September.
November 4, 2013
Eurozone: Inflation Continues to Decrease
Euro area annual inflation down to 0.7 percent.
November 4, 2013
Industrial Sector: Growth Painfully Slow
According to a survey by research institute Markit, industrial production in the Eurozone increased in October for the fourth time in a row. However, the rate of growth is still low.
November 4, 2013
Slovenia: Highest Contribution of GDP to ESM
As reported by Slovenia Times, the country has spent 2.8 percent of GDP for the Euro Stability Mechanism (ESM) last year.
November 4, 2013
Boost for Municipal Infrastructure in the Western Balkans
EBRD and KfW launch new €100 million fund
November 4, 2013
Visegrad Countries Encourage Western Balkans to Join EU
Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.
October 31, 2013
Banks Jeopardize Austrian Triple-A Rating
In case further aids will become imminent, Austria could lose its rating.
October 31, 2013
Lopatka: EU Enlargement Process of Western Balkans Decisive for Austria
“Non-Enlargement” of Western Balkan states would be fatal for Austrian businesses operating in the region and the national economy.
October 31, 2013
Slovenia on Top of Prosperous Countries in Emerging Europe
Slovenia is leading the list of prosperous countries in Emerging Europe. Bulgaria is on the last position.
October 30, 2013
Cernko: Bank Shops in Austria Have to Be Reduced
In spite of the banks’ progresses Austria still has a high densitiy in bank branches.
October 30, 2013
Dispute about Gas between Russian and Ukraine about to Escalate
According to Russian energy giant Gazprom, Ukraine has not yet paid deliveries of natural gas in the amount of around € 639m.
October 29, 2013
Hypo Group: Worst Expectations May be Exceeded
For the Austrian state, the ailing nationalized banking group may become a financial GSA. The legal dispute with the former owner BayernLB bears enormous dangers for Austria´s public finance.
October 25, 2013
Bulgarian President Calls for TTIP
Bulgaria’s economy would benefit from a free trade agreement between EU and USA.
October 25, 2013
EU Summit Calls for Finalization of Joint Guidelines for ESM
The EU Summit presses for faster changes to achieve the aim of a banking union.
October 25, 2013
Romania: Precautionary Financial Assistance Approved
The Council of the European Union has approved a new precautionary financial assistance program for Romania in extend of € 2bn in connection with a loan by the International Monetary Fund (IMF).
October 25, 2013
Austria to Remain at AA+
Austria has not yet been given back Standard & Poor’s Triple A.
October 25, 2013
“We Need to Pull Down the Iron Curtain in Our Heads“
In an interview with Austrian daily “WirtschaftsBlatt“ Johannes Seiringer, Director of the Austrian office of the European Bank for Reconstruction and Development (EBRD) calls for incentives for enterprises to continue investing in CEE.
October 24, 2013
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