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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
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The Euro – A Big Error (Part 1)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 20, 2012
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Downsizing Program at Hypo Tirol

After the major losses in 2011, the Austrian regional bank is obliged to withdraw from Germany, Switzerland and Italy.
May 19, 2012
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Bank Secret: EU Commission is Frustrated

The European Commission is dissatisfied with Austria´s and Luxembourg´s blockage of the interest taxation directive.
May 16, 2012


Austria´s Bank Secret Endangered

„I will withstand.“ Maria Fekter, Austria´s Minister of Finance said. The resistance against the EU directive on the taxation of interest will not be given up, Fekter reaffirmed.
May 15, 2012
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Passenger Growth: Vienna Airport Ranks Second

Regarding growth in number of passengers, only Copenhagne Airport could record a higher increase than Vienna Airport.
May 14, 2012


„Combining Austerity and Growth Measures“

The Austrian Minister of Economics and the President of the Austrian Chamber of Commerce claim a European growth strategy without turning down austerity policies.
May 11, 2012


Constant Rise in Austrian Research Spending

Austrian spending on research and development is set to increase by 4.2% in 2012 to reach € 8.6bn.
May 10, 2012


Raiffeisen Against Bank Insolvency Act

The Austrian government announced to introduce a bank insolvency act in summer. Raiffeisen wants a European solution.
May 9, 2012


Orange Takeover: T-Mobile Claims Legal Restraints

According to the Austrian subsidiary of Deutsche Telekom, the takeover of the third-largest Austrian telecommunication service provider would lead to a distortion of competitions.
May 8, 2012
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Leitl: „EU Needs Budget Consolidation and Growth Measures“

The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.
May 5, 2012


Decent Growth in Austrian Retail Trade Sector

Sales rose by 2.3% for Austrian retail trade in the first quarter 2012.
May 4, 2012


ESM: The Final Ruin of Europe

Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.
May 2, 2012


Austrian Unemployment Still Lowest in EU

The EU unemployment rate rose to 10.9% in March 2012 from 9.9% the year before. Since 2000, taxes on labor rose dramatically in Austria.
May 2, 2012


Unemployment Rises by 6.7%

In Austria, the number of unemployed persons rose up to 321,817 in April. Simultaneously, employment reaches a new record level.
May 1, 2012
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Austria Strengthens Political and Economic Cooperation with South Asia

The Austrian State Secretary Wolfgang Waldner attends 19th EU-ASEAN Ministerial Meeting in Brunei.
April 30, 2012


“Russia now among top 10 Austrian Trading Partners”

Austrian Foreign Minister Spindelegger meets with Russia’s Deputy Prime Minister Zubkov.
April 25, 2012


Austria Wants to Raise Efficiency in EU Funds

The Austrian State Secretary Waldner participates in the negotiations of the EU financial framework 2014-2020 and calls for setting a regional and environmental course.
April 25, 2012


Austria to Intensify Cooperation with Croatia

The Austrian Minister of Economics met his Croatian counterpart in Vienna. Above all, the EU-accession and investments were discussed.
April 24, 2012


Labor Costs: Austria in the Upper Third

Hourly labor costs ranged between € 3.5 and € 39.3 in the EU27 Member States. In Austria, labor costs reach € 29.20.
April 24, 2012
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Austrian Ministry of Finance Records Higher Tax Intake

In the first three months of 2012, tax proceeds were up by 3.8%. The Ministry of Finance registered revenues of € 16.2bn.
April 23, 2012


Fekter meets British Chancellor of the Exchequer Osborne

The Austrian Minister of Finance Maria Fekter and George Osborne talked about Basel III, the EU budget and taxation.
April 23, 2012


Maastricht Criteria: Austria in the Middle Field

In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.
April 23, 2012


Waldner: “Germany and Austria are Role Models in the Eurozone“

The Austrian State Secretary Wolfgang Waldner had a work meeting today with his colleague in the German Federal Foreign Office, Minister of State Michael Link.
April 23, 2012


Waldner Wants Closer Cooperation with Spain

Austrian State Secretary Waldner is meeting his counterpart in the Spanish Foreign Ministry, State Secretary Gonzalo de Benito Secades, and EU State Secretary Inigo Mendez de Vigo today.
April 19, 2012
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Roiss Claims European „Fracking“ Strategy

OMV´s CEO Gerhard Roiss calls for a common strategy to exploit shale gas. The European industrial sector should become more competitive.
April 18, 2012


Mitterlehner: „AAA is still Far Away“

Austria´s Minister of Economics does not believe that S&P gives back the “AAA” rating soon. However, the debate about Austria´s rating is overvalued, he thinks.
April 17, 2012


Austria Supports EU Capitalization Plans for Banks

Regulators in the European Union may be allowed to impose capital surcharges on banks
April 17, 2012


Austrian Inflation Slightly Down

In March, a decrease of the Consumer Price Inflation to 2.4% was observed.
April 17, 2012


Tax Deal Fiercely Criticized

Last week, Austria concluded a tax treaty with Switzerland. For experts, the deal does not solve the main problems.
April 16, 2012
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Hypo Tirol: NPL Quota at 37%

The Tyrolean regional bank recorded losses of € 125m last year. The owner, the province of Tyrol has to inject further capital.
April 16, 2012


Austrian Economy on Moderate Growth Course

Bank Austria Forecasts table growth until summer followed by chances of an upswing. Austria could achieve GDP growth of 0.8 percent in 2012 and 2 percent in 2013.
April 16, 2012


Waldner: “Serbia Needs to Continue its Approach to the EU Unwaveringly”

Wolfgang Waldner, Austrian State Secretary is on a working visit in Belgrade.
April 12, 2012


Nowotny Ask For Alternative to Financial Transaction Tax

The governor of the Austrian Central Bank (OeNB) sees a good sign in Austria´s low interest rate on sovereign bonds. The introduction of a European financial transaction tax is unrealistic, the governor says.
April 11, 2012


Financial Transaction Tax: Schieder Raises Pressure on EU

Austria´s Financial State Secretary Andreas Schieder threatens to vote against higher EU contributions. To discuss about alternatives of the financial transaction tax is “too early.”
April 10, 2012
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„Natural Gas to Become Most Important Energy Source“

Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.
April 7, 2012


Tax Intake Higher Than Expected

In the first two months of 2012, the Austrian state received € 460m more tax proceeds than initially expected.
April 6, 2012


EU: Austrian Labor Costs Rose Decently

Since 2000, Austrian labor costs rose by 40%. Among the 27 member states, Austria ranks 22th.
April 5, 2012


EU Approved Joint Venture between Agrana and Ybbstaler

The EU Commission granted Agrana and RWA Raiffeisen Ware Austria the green light for the merger of their fruit juice concentrates subsidiaries.
April 5, 2012


Go-Ahead for Joint Venture Between Agrana and RWA.

EU Commission approves joint venture between the two Austrian food companies Agrana Juice Holding GmbH and Ybbstaler Fruit Austria GmbH (RWA).
April 4, 2012
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Euro-Group: Fekter Presses Ahead

Jean-Claude Juncker, head of the euro-group is angry at the Austrian Minister of Finance, Maria Fekter, who presented the summits´ results before Juncker´s press conference.
March 31, 2012


Austria Insists on Financial Transaction Tax

Despite Germany’s finance minister sees little chance of a European Union agreement on the levy, Austria is sticking to plans for a financial-transaction tax in Europe to help consolidate its budget.
March 27, 2012


EU Financial Framework Negotiations Enter the Hot Phase

State Secretary Wolfgang Waldner underlines Austria´s position as net contributor at the General Affairs Council in Brussels.
March 27, 2012


Keuschnigg: „Greece Must Leave Eurozone“

The Austrian Economist and designated director of HIS, Christian Keuschnigg advised Greece to leave the euro zone.
March 26, 2012


RBI: Günther Gall Appointed Vice-Chairman of EPC

The Austrian national Günther Gall of Raiffeisen Bank International AG (RBI) was elected vice president of the European Payments Council (EPC).
March 23, 2012


Orange Takeover Threatens to Fail

The takeover of Austria´s third-largest telecommunication service supplier Orange by the Hong Kong-based Hutchison Group may be postponed. Orange´s creditors are increasingly nervous.
March 22, 2012


Modest Economic Spring With Upward Potential

Bank Austria Business Indicator for February confirms that the economic turnaround has already begun. The outlook is positive.
March 19, 2012


Austria Underlines South Tyrol´s Autonomy

Austrian State Secretary Wolfgang Waldner on working visit in South Tyrol. Austria suggests an “Alpine Strategy”.
March 19, 2012


Bank Austria Plays Down Hungary Risks

The head of UniCredit unit Bank Austria's central and eastern Europe business played down potential risks from Hungary in a magazine interview published on Friday.
March 19, 2012


“The Czech Republic Has Traditionally Been an Important Partner for Austria”

Austrian State Secretary Waldner meets Czech EU State Secretary Belling.
March 19, 2012


Tax Agreement with Switzerland May Be Postponed

The plans of the Austrian government to conclude a tax agreement with Switzerland soon is unlikely. For the budget, this could cause a loss of revenues.
March 17, 2012
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