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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
Investigation Report Incriminates Managers of Bank of Cyprus
Mass purchase of Greek state bonds and removing of data.
April 5, 2013
Decisions About Hypo Group’s Future Still Pending
Finance Minister Maria Fekter has presented herself rather reserved after the meeting with EU Commissioner for Competition Joaquin Almunia.
April 5, 2013
Fekter Defends Austrian Bank Secret
With the reference to the agreement with Switzerland and Lichtenstein, Finance Minister Fekter tries to convince the EU Commission to leave the Austrian bank secret at the current situation.
April 5, 2013
Austria: Fekter Craving for Indulgence in Brussels
Austrian Finance Minister Fekter will be in Brussels on Friday to negotiate about the privatization of the nationalized-by –force Hypo Group.
April 4, 2013
Turkey’s Hopes of a Reunited Cyprus
The financial crisis in Cyprus is, according to Turkish President Abdullah Gül, an important opportunity to overcome the seperation of Cyprus.
April 4, 2013
Cyprus: Evidence Destroyed?
According to reports by the media in Cyprus, important evidence about the heavily affected Bank of Cyprus was destroyed.
April 4, 2013
Keuschnigg Forecasts End of Bank Secret in Austria
Head of the Austrian Institute for Advanced Studies (IHS), Christian Keuschnigg expects the end of the bank secret in Austria.
April 3, 2013
Law Files Against Bulgaria from EVN and CEZ.
Power Suppliers EVN, CEZ and Energo Pro have to face high losses. CEZ announced to file a law against Bulgaria as well.
April 3, 2013
Romania: Ponta Endorses Regionalization
Regionalization, which is encompassed in the constitutional reforms, is supposed to help improve the administrative situation in Romania.
April 3, 2013
Slovakia: Industrial Production Increases by 4.1 %
Production still driven by the automotive industry. Industrial production in January 2013 increased month-on-month by 4.1%.
April 3, 2013
Cyprus: Prone to Recession
Despite of the bail-out package, the country is threatened by a deep recession in the coming two years.
April 3, 2013
Referendum in Poland about Joining Eurozone
Last week, Prime Minister Donald Tusk offered a vote on a referendum about the adoption of the Euro in Poland. A simple majority needed for a decision could settle the issue.
April 2, 2013
Green’s Fear of Russian Black Money in Austria
Once more, the Austrian Greens insist on a reform of the bank secrecy.
April 2, 2013
Cyprus: Finance Minister Steps Down
According to reports by the media, Finance Minister of Cyprus, Michael Sarris will be replaced.
April 2, 2013
Lithuania and Latvia Preparing for Euro
The Baltic finance ministers emphasize sustainable growth and euro importance.
April 2, 2013
Bulgaria: Budget Deficit Amounting to BGN 732.0m
The budget balance under the Consolidated Fiscal Programme (CFP) as of end-February 2013 is negative, amounting to BGN 732.0 million.
April 2, 2013
Cyprus: Anastasiades Comes Under Suspicion
President Nikos Anastasiades is in dire straits as he is accused of having transferred huge amounts of money to foreign countries and having warned relatives. In the meantime, the austerity package is almost set.
April 2, 2013
Slovenia: “We Will Need No Bailout This Year”
Since Greece, Spain and Cyprus are currently finding themselves in disastrous economic situations, Slovenia does not want to seem like the next bail-out candidate.
March 30, 2013
Cyprus: 37.5 % Only The First Cut
Assets will be burdened much higher than assumed. Apart from the mandatory levy of 37.5 % a further amount of 22.5 % will be frozen in.
March 30, 2013
Serbia: GDP Decreased by 1.7 % in 2012
Based on data released by the Statistical Office, GDP fell by 1.7% in 2012. Broken down by quarter, real y-o-y GDP fell by 2.7% in Q1, 0.3% in Q2, 2.1% in Q3 and 2.0% in Q4.
March 30, 2013
Slovakia: Economic Sentiment Indicator Increased to 90.4
The three-month moving average of economic sentiment indicator (ESI) increased by 1,8 points to 90,4 compared with the previous month´s value.
March 30, 2013
Serbia: Financial Underhand Practices Discovered
Financial underhand practices had lead to losses of € 700m for the Serbian state.
March 30, 2013
Cyprus: 37.5 % Tax on Assets
The compulsory levy on bank assets exeeding € 100,000 has now been fixed. Assets above the amount will be taxed with 37.5 %.
March 30, 2013
EVN to Get Support by State Secretary
State Secretary Lopatka intervened in EVN’s dispute with Bulgarian government. He urges Bulgaria to ensure protection of investments.
March 29, 2013
"Croatia is Paving the Way for the Entire Balkans"
Austria’s Vice Chancellor advocates the commission’s assessment and is looking forward to welcoming Croatia as a new EU member.
March 29, 2013
Cyprus: No Bank Run
The feared bank-run after the almost two-weeks long closing of the banks in Cyprus has not occured.
March 29, 2013
Slovenia: NLB Gets Own Bad Bank
Slovenia biggest bank, Nova Ljubljanska Banka (NLB), is going to establish its own intern bad bank.
March 28, 2013
Austria: Budget Deficit in 2012 Lower Than Expected
The country has reached a significantly lower deficit than the government had expected. According to Statistik Austria, the deficit was at 2.5 % of GDP in 2011, equaling € 7.7bn.
March 28, 2013
Cyprus: Trying to Avoid Chaos at Banks
Today, Cyprus‘ banks are supposed to be opened after almost two weeks of closing. The citizens are called for calm and there are limits for drawing money. The currency rate was downgraded to Caa2 by Moody’s.
March 28, 2013
CESEE: CR More Attractive for FDI Than SK
Foreign investors regard the Czech Republic more attractive than Slovakia.
March 27, 2013
Cyprus: Mandatory Levy on Assets Not Yet Fixed
Banks in Cyprus will open again tomorrow, yet the capital flow is still limited. Dijsselbloem is criticized by the ECB. Bank employees demand Demetriades’ stepping down.
March 27, 2013
Moody’s Warns EU
The rating agency warns the EU governments about over-estimating the ability to overcome the Euro-crisis.
March 27, 2013
EU’s Austerity Cuts Adverse to Health
EU’s austerity measures negatively affect citizen’s health, is the result of a health study carried out by “The Lancet”. The Commission was supposed to examine the political effects.
March 27, 2013
Cyprus: Outflow of Billions of Euros Presumed
Investors in Cyprus could face haircuts up to 50 %. Parliamentary President, Omirou want to go into details about the alleged transfer of assets despite of the banks closing.
March 26, 2013
Austria: Number Nine in Innovation Ranking
On the EU innovation ranking list Austria loses points and slips back on ninth place.
March 26, 2013
Poles Reject The Euro
According to polls, two thirds of polish citizens do not want to change the zloty for the Euro.
March 26, 2013
Head of Bank of Cyprus Withdraws
Head of Cyprus’ biggest bank withdraws. Cyprus’ Labor Minister warns of recession and economic downturn due to the austerity measures imposed by the EU and Commission.
March 26, 2013
Commission Praises Croatia’s Progress
Croatia has fullfilled all criteria for the EU accession on July 1, 2013.
March 26, 2013
Dacic to Meet Head of EULEX Mission
International mission in Kosovo to ensure complete protection of all citizens.
March 26, 2013
Roiss: “A European Concept and Joint Investments Are Needed“
In an interview with the Austrian newpaper Kurier, CEO of OMV explains why Europe needs other sources of energy and why there is a growing competitive disadvantage compared with the USA.
March 25, 2013
Cyprus: Bail-Out Package Accepted
Cyprus has been granted the € 10bn worth aid package by the EU. After ten hours of negotiations in Brussels the decision was made early this morning. Assets below € 100,000 will not be taxed.
March 25, 2013
Croatia: Sluggish Economic Recovery
The improvement in the financing conditions in international financial markets in the second half of 2012 mitigated the risks to Croatias financial stability to an extent.
March 25, 2013
Cyprus: Agreement on Bank Asset Tax
Today, the Cyprian government has come to a solution on the compulsory charges on bank accounts.
March 23, 2013
Cyprus: Votes on Mandatory Levy
In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.
March 23, 2013
"Croatia Will Not Benefit From Joining The EU"
Croatia will join the European Union as the 28th member state in a few months. Economists criticize the country for not carrying out enough reforms and only focusing on tourism.
March 22, 2013
Fekter: “Austrians can rest easy knowing that their bank deposits are safe.”
Current situation in Cyprus is an exceptional case and not comparable in any way with Austria.
March 22, 2013
Cyprus: Negotiations About “Plan B“ Today
After days of negotiations in Moscow, Cyprian Finance Minister had to return empty-handed. Talks about “plan B” will continue today.
March 22, 2013
Medvedev: Harsh Criticism For EU At Conference in Poland
At a two day’s international press convention for EU journalists, Russian Prime Minister Medvedev has highlighted the improved political and economic interaction between Russia and Poland. However, he critized the EU on its Cyprus-politics.
March 21, 2013