Austria - European Union Political News

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

Chemical Industry Warns of Investment Stop

Peter Untersperger, CEO of the fiber manufacturer Lenzing and chairman of the Austrian chemcial industry is very critical of the energy efficiency act.

June 22, 2012

Fekter Declines Mercy for Greece

Austria´s Finance Minister Maria Fekter is poised for amending several points oft he Greek austerity program. This is no accomodation, Fekter emphasizes. In the future, the EU should be completely centralized, Fekter says.

June 21, 2012

Austria Pushes for Danube Strategy

Together with Germany, Slovakia and Bulgaria, Austria wants to implement a common transport strategy for the Danube.

June 21, 2012

„Austria Is Threatened by a National Bankruptcy“

The Austrian economist Eva Pichler warns of the ESM and appeals on the Austrian Parliament not to ratify the „recue package“.

June 20, 2012

Austrian GDP Per Capita Third Highest in EU

According to first estimates for 2011, the GDP per capita in the Member States ranged from 45% to 274% of the EU27 average in 2011.

June 20, 2012

Tricky Climate for Austrian Economy

The economic activity continues to lose pace – a weaker economic growth is expected for the remainder of the year. Exports and stable domestic demand support an unchanged GDP forecast of 0.8 per cent for 2012.

June 19, 2012

Nabucco: EU Commission is in Doubt

The Commission of the European Union emphasizes that Nabucco is still an option. Nevertheless, there would be cheaper options.

June 18, 2012

Fekter Approves Greek Election Results

The Austrian Minister of Finance Maria Fekter is happy with the „Pro-European „ statement oft he Greeks. Minor adjustments to aid packages would be possible.

June 18, 2012

Austria Among European Renewable Energy Nations

The contribution of renewable energy was up to 12.4% of energy consumption in the EU27 in 2010. The highest share is observed in Sweden, Latvia, Finland, Austria and Portugal.

June 18, 2012

Orange Takeover to be Postponed

The Commission of the EU identified several shortcomings in the takeover of Orange by the Hong Kong based Hutchison.

June 15, 2012

RZB Wants to Keep Austrian Deposit Protection

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is skeptical of the European deposit protection proposal.

June 15, 2012

8th Conference of European Regions and Cities (CERC) in Austria

The Institute of the Regions of Europe (IRE) is holding the 8th conference of European Regions and Cities in Grafenegg.

June 14, 2012

Austrian Hourly Labor Costs Rise Significantly

First quarter 2012 compared with first quarter 2011: Euro area hourly labour costs rose by 2.0%.

June 14, 2012

Austria Stresses Balance Between Growth and Austerity

At the negotiations on the EU financial plan 2014 – 2020 in Denmark, Austria proposes to establish a growth fund accessible to SMEs.

June 13, 2012

Monti Angry at Fekter

Italy´s Prime Minister Mario Monti is unhappy with the statement of Austria´s Finance Minister Maria Fekter on Italy. Fekter considered that Italy may need help by the EU.

June 12, 2012

Austria to Strengthen Cooperation with Baltic States

Austrian State Secretary meets the Speaker of the Latvian Parliament and underlines Latvia´s successful austerity course.

June 12, 2012

Spain: „ESM would be a Better Safeguard“

Austria´s Minister of Finance Maria Fekter wants Spain to call for aid via the ESM.

June 11, 2012

Austria Promotes Political Cooperation in Black Sea Region

Conference in Tbilisi discusses issues of management of institutional administration and rule of law.

June 11, 2012

EU-Crisis: Austrian Government Underlines Necessity of „Solidarity“

The Austrian State Secretary Wolfgang Waldner calls for a centralization of economic and financial policies.

June 8, 2012

Kommunalkredit Sale: Austria Hires Morgan Stanley

The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.

June 6, 2012

„Bank Union is Still Far Away“

Ewald Nowotny, Governor of Austria´s Central Bank, thinks that a bank union in the Eurozone would still take some time. Erste Group´s CEO Andreas Treichl approves the idea.

June 6, 2012

Russians Push New Railway Line to Vienna

Russian Railways intends to establish an axis between China and Europe.

June 4, 2012

Spindelegger: “Great respect for future-oriented decision taken by Ireland”

The Austrian Vice Chancellor congratulates his Irish colleague Eamon Gilmore on the outcome of the referendum.

June 4, 2012

Trade Unions Wants „Just Taxation“

The Austrian Trade Unions warn of a strict austerity policy and pushes for growth stimulating measures.

June 2, 2012

EU Calls on Austria to Accelerate Reforms

Austria has to put more effort in reforms. In the fields of education, labor market, retirement plan and budget consolidation, Austria shows deficits.

June 1, 2012

Treichl: „Spain Needs Help“

The CEO of theAustrian Erste Group Andreas Treichl is in doubt whether Spain may conquer the crisis without help. Regarding Greece, Europe has to pay anyway, Treichl thinks.

June 1, 2012

More than 300,000 Unemployed

The situation of theAustrian labor market remains tensioned. At the end of May, 300,000 persons did not have a job.

June 1, 2012

Economic Balance: EU Warns Austria

The Commission of the EU issues an early warning for Austria as the thresholds of three macro-economic indicators were exceeded.

May 31, 2012

OeNB Reacts to EU-Commission´s Critique

The EU Commission warned Austria of the big lending exposure in Eastern Europe. According to the Austrian Central Bank, the CESEE region must be seen differantiated.

May 31, 2012

The Euro - A Big Error (Part 4)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 31, 2012

Austrian Industry: „Growth Instead of Redistribution“

After the Austrian Chamber of Labor claimed he Federation of Austrian Industry underlines that Austria has the highest redistribution quota among OECD members.

May 30, 2012

Exposure in Eastern Europe Remains Austria´s Weak Point

The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.

May 30, 2012

Austrian Proposal for EU Growth and Innovation Fund

In-depth discussion at the General Affairs Council on the multi-annual financial framework of the EU. Austria pushes for more economizations.

May 30, 2012

Switzerland: Resistance Against Tax Deal with Austria

Swiss parties are against the tax agreement with Austria. The social democrats and the Swiss People´s Party oppose the plan.

May 29, 2012

The Euro - A Big Error (Part 3)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 29, 2012

"Europe Needs Economic Growth and Budget Discipline“

Structural reforms are necessary to make Europe sustainably more competitive, Christoph Leitl, President of Austria´s Chamber of Commerce (WKO) says.

May 26, 2012

Fekter Emphasizes: „Eurobonds Do Not Solve Debt Problem“

Maria Fekter, Austria´s Minister of Finance, thinks that the idea of common bonds is no real solution, but only symptom fighting.

May 26, 2012

Fekter: “Strengthen Partnership with Eastern Neighbours”

Austria´s Finance Minister Maria Fekter emphasizes the necessity of a closer political and economic integration needed with partners in the East.

May 26, 2012

The Euro – A Big Error (Part 2)

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 23, 2012

Austrian Industrial Sector Pushes for Austerity

The Federation of Austrian Industries sees still a huge potential to reduce public expenses and underlines the importance of the industrial sector.

May 22, 2012

Fekter: Hollande´s Suggestions are “Nonsense”

Vice-Chancellor Spindelegger and Finance Minister Fekter are strictly against the introduction of Eurobonds and any amendments of the Fiscal Treaty.

May 22, 2012

Rothensteiner: Return to Drachma would be „Utter Chaos“

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

May 21, 2012

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

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

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

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