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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


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


Belgrade Considers Conditions Unacceptable

The sudden failure to reach a final conclusion to the Kosovo-issue puts a dampener on Serbia’s way towards the EU.
March 21, 2013


Vienna Among Top 10 of Strong Economic Regions

According to statistics, which were published by Eurostat on Thursday, Vienna is among the Top 10 of the economically strongest regions in Europe again.
March 21, 2013


National Bank of Slovenia Reports Slowing Growth

The banking system’s total assets were down by € 88.5m in January or 6.6% y/y. The banks repaid liabilities to foreign banks in the amount of € 171m and to the Eurosystem in the amount of € 78m.
March 21, 2013


Cyprus: No Hope in Sight Yet

It is still uncertain if an agreement with Russia about the sale of gas fields can be found. President of the EU commission has joined the talks in Moscow.
March 20, 2013


Time Is Running Out Fast for Serbia and Kosovo

It is probably one of the last chances for Serbia and Kosovo to make progresses for EU rapproachment.
March 20, 2013


Ukraine: Not Enough Progress

According to an evaluating report of the EU, Ukraine does not show enough progress in reforms.
March 20, 2013


Cyprus Appeals for Help to Russia

In a vote on Tuesday the government has decided not to use the private money of Cyprus‘ citizens to help bail out the banks. After the rejection, the EU aid package is now off. Cyprus hopes rest on Russia at this point.
March 20, 2013


Cyprus: Parliament Rejects EU Bail-Out Package

Not a single member of the Cyprian parliament has voted in favor of the controversial plan where a compulsary levy for all creditors was planned.
March 19, 2013


Austria: How to Keep Enterprises (from Drifting Away)

At the moment, there is a subtle fear in Austria’s economy that large enterprises are going to outsource to foreign countries which is currently the case with voestalpine.
March 19, 2013


Slovenia: Highest Decrease in Construction Industry

In January 2013, compared with December 2012, the production in construction in the Eurozone was down by 1.4% and down by 1.3% in EU27-states. Slovenia experiences the highest decrease with 7.4 %.
March 19, 2013


EVN to Start Arbitration Procedure

Today, Austrian power supply company EVN informed the state of Bulgaria about opening arbitration proceedings.
March 19, 2013


Cyprus: Small Investors To Be Excluded From Tax

After protests among Cyprus‘ citizens arised and harsh criticism was expressed, the government now intends to exclude small savers from the compulsary tax and grant them a relief.
March 19, 2013


EU Budget to be Increased

Because of Croatia’s EU entry on July 1, 2013 the budget has to be elevated
March 18, 2013


Czech Republic: Opposition Rejects Austerity Measures

Opposition leader Sobotka was re-elected last Friday as chairman of the Social Democrats. In an interview with Reuters he explains why the government needs to slow down on austerity measures.
March 18, 2013


Poland: Tusk Appears Optimistic On 2013 Budget

Prime Minister, Donald Tusk remains hopeful on fulfilling the 2013 budget criteria, despite of a disadvantageous macro economical outlook.
March 18, 2013


Slovakia: Fico’s Plans For The Future

In a speech at the congress of the Czech senior opposition Social Democrats (CSSD) on Saturday, Prime Minister of Slovakia, Robert Fico explained his future plans.
March 18, 2013


Cyprus: Parliament Votes Tomorrow For Rescue Package

The Cyprian parliament is unlikely to vote in favor for the rescue package which forces bank clients to contribute with their private money.
March 18, 2013


CSA: Korean Air Gets In

The South Korean airline will take over the publicly held stake in the loss-making Czech carrier.
March 16, 2013


Spindelegger Criticizes Orban Sharply

Austria´s Vice Chancellor and Foreign Minister Michael Spindelegger wants Hungary to “return to the European legal basis”.
March 16, 2013


Austria Pays Almost € 300m in Greek Aid

Eurosystem gives away profits from support operations of Greek government bonds. € 281m comes from Austria.
March 16, 2013