Read the latest headlines about developments in Austrian - European Union (Brussels) politics with reference to the international interest
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Austria - European Union Political News

Belka: Poland Should Not Haste into Eurozone

Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.

March 17, 2014

CEE: Investments to Boost Economic Growth

In the coming two years economic growth in Eastern Europe is expected to accelerate to an average of two to three percent of GDP triggered by a boost in investments.

March 13, 2014

Serbia to Continue Path towards EU

Even after the elections the new government intends to continue the path towards an EU membership.

March 13, 2014

Austria: Banking Secret for Foreigners to be Abolished Forever

From 2017 on, the banking secret for non-Austrian residents will be abolished completely.

March 11, 2014

Wifo: Economic Recovery Lacks in Momentum

Economic growth in the Eurozone is still without a major drive. In Austria too, economic recovery is still restrained.

March 11, 2014

Austria: Hypo Group Disaster with Exorbitant Costs

The extent of the disaster of Austrian problem bank Hypo Group Alpe Adria only starts to unfold bit by bit. A further capital injection of € 750m is needed only for the ailing bank to complete its balance sheets.

March 11, 2014

EUSD: Austria “Ready to Agree“

Despite earlier statements to the contrary, Austria could now agree to the extension of the European Saving’s Directive (EUSD) during tomorrow’s ECOFIN meeting in Brussels.

March 10, 2014

Austrian Bank Secret Remains Until 2017

Austrian Finance Minister Spindelegger will present proposals for amendments of the EUSD tomorrow.

March 10, 2014

Slovenia: Government Envisages Reform Measures

After the EU Commission delivered a warning to Slovenia over the macroeconomic imbalances Prime Minister Alenka Bratusek announced yesterday she had expected such a report.

March 7, 2014

Slovenia: Commissioner Calls for Reforms and Further Privatizations

EU Commissioner for Economic and Monetary Affairs Olli Rehn said that Slovenia had to continue to push forward with further privatizations and economic reforms.

March 6, 2014

Czech Republic: Economic Growth Speeding up

In the last quarter in 2013 the Czech economy grew faster than anticipated and even outdid all other EU member countries.

March 6, 2014

Serbia: Economic Changes Urgently Needed

Economic Forum highlights need for reforms.

March 5, 2014

S&P: European Banking Sector Faces Worse Ratings

According to the rating agency, the public support for the European banking sector is essential in many cases. Without financial support, banks might be downgraded.

March 5, 2014

Serbia: Dacic Unsure of Future Government

Outgoing Prime Minister and leader of the Serbian Social Party (SPS) Ivica Dacic is unsure about how the new government will be formed.

March 4, 2014

Austria Losing in Innovation Ranking

The EU member countries are catching up with the US and Japan in regard to innovation. However, Austria is not among the top players.

March 4, 2014

“Serbia Has to Become Economically and Politically Stable”

Prime Minister Dacic promised to continue to follow the path to an EU membership. Former Austrian Chancellor Gusenbauer underlines Serbia’s importance among Western Balkan states.

March 3, 2014

„EU Did Not Care About Ukraine“

Herbert Stepic, former CEO of Raiffeisen Bank International, criticizes the EU fiercely.

March 1, 2014

Austria: Bank Accounts of Ukrainians to be Frozen

At the instigation of the new Ukrainian government Austria will freeze the bank accounts of 18 Ukrainians at domestic banks until further notice.

February 28, 2014

Poland: Fastest Growing Economy in EU

According to the EU Commission, Poland will see the fastest growth in 2014 among the largest former communist countries of the European Union.

February 26, 2014

Leaders from Western Balkans Meeting at EBRD

Prime Ministers from the Western Balkans are gathering to discuss economic cooperations.

February 25, 2014

CNB Not to Stop Monetary Interventions Just Yet

Exchange rates in the Czech Republic will not go back to the state before monetary interventions were carried out by CNB.

February 25, 2014

Austrian Bank Secrecy to be Abolished by 2016

EU Commissioner Algirdas Semeta recently stated that bank secrecy in Austria will expire since by then the automatic exchange of information will be implemented as a standard.

February 24, 2014

Austria: Inflation Drops Again

Inflation in Austria dropped to 1.5 percent in January due to the winter sales.

February 24, 2014

Serbia: Full EU Member by 2020?

Aleksandar Vucic, Deputy Prime Minister of Serbia, said on Thursday evening that the country had full political stability and announced that the country’s aim is to become an EU member in 2020.

February 22, 2014

Austria: Wifo Projects Gloomy Economic Outlook

A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.

February 21, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

“Polish Economy at Crossroads“

In an interview with Austrian daily “WirtschaftsBlatt“, Ryszard Petru, chairman of the Society of Policy Economists, sees high chances for the Polish economy; however, only if the country knows how to support innovation.

February 21, 2014

Bulgarians Pessimistic about Own Future

More than 90 percent of Bulgarian citizens deem the country to be in an economically bad situation.

February 20, 2014

EU Commission to Examine Slovenian Bank Restructuring Plan

Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.

February 20, 2014

Zeman: Entry in Eurozone Delayed

In a speech to the Lower House ahead of the vote in confidence for the new government Czech President Milos Zeman expressed his dissatisfaction over the latest monetary intervention by the Czech National Bank (CNB).

February 19, 2014

Hypo Bankruptcy Could Severly Harm BayernLB

Rating agency Moody’s sees German BayernLB impacted by the critical capital situation in the coming years.

February 18, 2014

Spindelegger Positive about Creation of Financial Transaction Tax

In the run-up to the beginning of the ECOFIN Council in Brussels, negotiations about the further proceeding of the financial transaction tax were held among eleven EU finance ministers.

February 18, 2014

Nowotny: Negative Interest Rate Conveys Feeling of Crisis

Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.

February 18, 2014

Romania: Fit for Eurozone?

According to estimates by the Romanian government, the country is fit for joining the single currency union.

February 17, 2014

Austria: Economic Upturn Still in Standby-Mode

According to the analysis of the economic indicator of Bank Austria, there is moderate growth and hope for the first quarter in 2014.

February 17, 2014

Slovenia: Heading for Recovery

Slovenia seems to have circumnavigated the crisis as the small country is not a Eurozone bail-out candidate anymore, according to Prime Minister Bratusek.

February 17, 2014

Serbia: Fast Implementations of Reforms Crucial

Tanja Miscevic, chief negotiator in the EU accession talks, announced on Sunday that elections in Serbia are not slowing down the process in European integration.

February 17, 2014

Government Downplaying Effects of Hypo Group Desaster

Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.

February 17, 2014

Kurz: “We Want Serbia to Join EU ASAP”

According to the Austrian Foreign Minister, the prospect of an EU membership could help accelerate the implementation of reforms.

February 14, 2014

EU Puts Limit to State Aids for Hypo Group

So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.

February 14, 2014

Serbia: FDI for Sustainable Growth

Serbia needs FDI in the amount of € 2bn at least to stimulate sustainable growth, according to experts.

February 12, 2014

Challenging Business Environment for Croatian Banks

Last year profits of Croatian banks declined more than 73 percent.

February 12, 2014

Hypo Group: Bad Bank Active at Least 10 Years

Austria’s rating by Standard & Poor’s (“AA+”, stable outlook) is currently not compromised. Because of the establishing of the bad bank the debt rate will rise four to six percent.

February 12, 2014

Austria: Hypo Group Becomes Fiasco for Taxpayers

The most expensive solution for the winding up of troubled Hypo Group becomes imminent.

February 11, 2014

Spindelegger Insists on Austrian Bank Secret

On Friday the Finance Ministry confirmed to the Austrian Press Agency (APA) that there is “momentum in the field” in regard to disclosure of information about bank accounts of foreigners.

February 10, 2014

Fitch Criticizes European Stress Tests

The rating agency argues that there is still a lack in technical details. Regarding the robustness of the stress tests, Fitch demonstrates skepticism.

February 6, 2014

CESEE: Stuck in Transition or Just a Break?

Despite all difficulties in Central, Eastern and Southeastern Europe, the region remains essential for Austria. The long-term growth potential remains intact.

February 6, 2014 · Updated: February 6, 2014; 13:41

CESEE: Corruption Is Still a Major Obstacle

The European Commission has published its first Anti-Corruption Report today. Above all, the economies in Southern and Southeastern Europe are suffering from corruption.

February 3, 2014

Croatia: Monetary Interventions to Stabilize Kuna

On Friday the Croatian national bank sold € 240.2m to commercial banks.

January 31, 2014

Austrian Industrial Sector only Sees Weak Recovery

The Federation of Austrian Industries (IV) warns about a fragile economic recovery.

January 30, 2014