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Read the latest headlines about developments in Austrian - European Union (Brussels) politics with reference to the international interest
Austria - European Union Political News
European Savers in Danger
Already this year, savers in the Eurozone may fear a compulsory tax on deposits, the Danish Saxo Bank says.
January 4, 2014
Eurozone: Number of Bank Credits Keeps Declining
The financial institutes in the Eurozone have been cutting back on granting credits. The lending for both business corporations and private persons has dropped by 2.3 percent.
January 3, 2014
Hungary: MKB Bank Sells Romanian Subsidiary
As announced in a statement Hungarian MKB Bank has sold its entire stake of its Romanian subsidiary.
January 3, 2014
Slovenia: Banking Sector Still in Turmoil
Small banks in Slovenia are reasons for concern in regard to their capital shortfalls.
January 3, 2014
Austria: FMA to Activate Whistleblower Hotline
At the beginning of this year the Financial Market Authority (FMA) in Austria has activated a “whistleblower hotline” for bank insiders to report about potential abuses.
January 3, 2014
Massive Change in Banking Landscape
The business model of banks comes more and more under pressure. In the next years, about the half of the bank shops will be closed, banking expert Hans-Gert Penzel predicts.
January 2, 2014
CEE: Economic Sentiment Cautiously Optimistic
The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.
January 2, 2014
Austria: Unemployment Rate at Record High
Last year the unemployment rate in Austria recorded its highest level in 60 years.
January 2, 2014
Slovenia: FDI to Remain Low in 2014
No improvement in increasing foreign direct investments in Slovenia is expected this year. The country has one of the smallest shares in inward FDI among EU member countries.
January 2, 2014
„Such Growth Rates Will not Return“
In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.
December 30, 2013
Hypo Group: „The Wrong Decisions were Made“
Johannes Ditz, former chairman of the Austrian nationalized Hypo Group Alpe Adria, thinks that the Austrian government could have avoided a massive burden for the taxpayers.
December 28, 2013
Hypo Group: Austrian Government Seems Aimless
Although the restructuring of the nationalized Austrian lender is one of the most pressing issues, the Austrian government could not present a sound concept yet.
December 27, 2013
Austria: Kapsch Delivers Warning to Policy-Makers
Georg Kapsch, President of the Federation of Austrian Industries (IV), is very cautious about economic growth in Austria and warns the policy-makers of a budget consolidation on the basis of expectations of growth.
December 27, 2013
Serbia to Receive Pre-Accession Assistance from EU
Today the European Commission adopted the 2013 national programme for Serbia under the Instrument for Pre-accession Assistance (IPA).
December 23, 2013
Slovenia: PM Bratusek Confident About Tackling State Debts
Even though the country is expected to issue new state bonds next year to tackle state debts Prime Minister Alenka Bratusek suggested that Slovenia does not require loans immediately.
December 23, 2013
Austria: New Government Already Disappoints in the First Week
In 2014, Austria will not achieve its fiscal objectives, new Minister of Finance Michael Spindelegger admitted. Austria´s fiscal situation is observed critically. The country faces a new austerity package.
December 23, 2013
Bulgaria: Economic Upturn Not Sooner Than 2015
As reported by Bulgarian daily Standart, an economist at World Bank pointed out that the country has not yet reached the economic situation of before the start of the financial crisis in 2008.
December 20, 2013
Slovenia: EU Commission Approves Bank Aid
On Wednesday the European Commission has approved state aid for five Slovenian banks.
December 19, 2013
Banking Union Completed
The Finance Ministers of the Eurozone have reached a compromise on the last pillar of the banking union. The deposit protection mechanism will come into power in 2015.
December 19, 2013
Wifo: Sluggish Growth Because of Weak Consumption
According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.
December 19, 2013
Slovenia: Three Arrestments at NLB
According to Slovenian authorities, three persons in the bank’s environment were arrested because of alleged malpractice.
December 18, 2013
Serbia: EU Accession Talks in January Fixed
Prime Minister Dacic considers results as “historic event” for Serbia.
December 18, 2013
Labor Costs: No Clear Trend in CESEE
In the Baltic countries and in Romania, unit labor costs rose most. In Slovenia and in the Czech Republic, by contrast, unit labor costs were down.
December 18, 2013
Austria: Major Banks Exhibit Significant Shortages in Core Capital Quota
Both Erste Group’s and RBI’s core capital quota is below the European average.
December 17, 2013
Banking Union: Bank Resolution as Hot Topic
The Finance Ministers of the Eurogroup countries are discussing the future of the banking union in Brussels today.
December 17, 2013
Czech Republic: Lowest Increase in Public Debts in 17 Years
According to the government’s Funding and Debt Management Strategy, public debt should exceed CZK 2,000bn by the end of 2016.
December 17, 2013
Slovenia: Bad Bank to Operate Longer than Expected
According to executive director Mannson, the collecting and selling of non-performing loans would take at least ten to fifteen years.
December 16, 2013
Austria: Opening Balance Reveals Massive Mountain of Debt
Public debts exceed the federal assets by more than double the amount, as revealed by the opening balance published by outgoing Finance Minister Maria Fekter last weekend.
December 16, 2013
Poland: Budget Bill Approved by Lower House
On Friday, the Polish lower house Sejm approved next year’s budget bill which schedules the budget deficit of PLN 47.6bn not to be exceeded.
December 16, 2013
Slovenia: Haircut for Junior Bondholders
Subordinated bond holders of the state-owned Slovenian banks will lose their investments completely. This is part of the recapitalization scheme.
December 14, 2013
BayernLB to Keep Hungarian MKB Unit
BayernLB’s plans to seperate from loss-making Hungarian affiliate MKB were not put on hold. Instead, the German bank wants to continue to push forward with austerity measures and cut jobs.
December 14, 2013
Austria: Spindelegger Replaces Fekter
The designated cabinet members were presented to the public today. Maria Fekter will not be a cabinet member anymore.
December 13, 2013
Slovenia Pushes Forward with Privatizations
In spite of the capital shortfall of € 4.78bn of the banks in Slovenia, the bank stress test was passed by the financial institutes.
December 13, 2013
Austrian GDP per Capita Second-Highest in EU
In terms of GDP per capita, Austria is the second-richest EU country.
December 12, 2013
Hungary: Stable Outlook Yet Still Junk Status
In spite of Matolcsy, governor of the Hungarian National Bank (MNB), demanding a better rating for the country’s credibility, the major rating agencies have not raised them.
December 12, 2013
Slovenian Banks Exhibit Capital Gap of Almost € 5bn
The capital gap of Slovenian banks comes at a total of 4.78bn, according to the stress test published today.
December 12, 2013
Austria: Nowotny Reiterates Statement
Ewald Nowotny, governor of the Austrian National Bank (OeNB), reiterated his view on Hypo Group.
December 11, 2013
No Major Progresses in Banking Union
Tuesday night the Finance Ministers of the European Union have gradually approached on the outstanding issues in the handling with banks threatened by bankruptcy.
December 11, 2013
Croatia: EU Introduces Excessive Deficit Procedure
In the last years, Croatia´s fiscal situation has deteriorated considerably. Not only the budget deficit remains above 3.0% of GDP, but also the public debt quota has climbed above 60% of GDP.
December 11, 2013
Slovenia Still Wants to Solve Problems on Its Own
According to head of Eurogroup Jeroen Dijsselbloem, the highly indebted country intends to get a grip on the problems of its banking sector.
December 10, 2013
Former Kazakh Embassador Facing Trial in Austria
Rachat Alijew is facing prosecution in Austria because of alleged money laundering. Moreover, a former Austrian Chancellor is suspected of spying.
December 10, 2013
EU Demands € 55bn for Banking Union
The Finance Ministers of the European Union are still negotiating about a mechanism aimed at preventing states from having to take over financial difficulties from banks, the banking union.
December 9, 2013
Austria: Tax Increases Contemplated by Government
During the coalition negotiations increases of taxes on tobacco and alcohol is currently considered by the Social Democrats (SPÖ) and the People’s Party (ÖVP).
December 9, 2013
Wifo: Austrian Economic Growth Still Sluggish
Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.
December 9, 2013
Austria: Oppositional FPÖ Wants Return to Shilling
The largest Austrian opposition party wants to leave the Eurozone.
December 7, 2013
Austria: Slight Increase in Exports
In spite of a continuing difficult international environment domestic exports increased by 0.7 percent. According to Economy Minister Mitterlehner the Austrian exports are on a record high.
December 6, 2013
Slovenia: Bank Stress Test Results Expected Earlier
According to a source within the European Union, the test results of the asset review of Slovenian banks will be published on December 12.
December 6, 2013
Croatia Ready for Allocation of EU Funds
Croatia has been given access to 1.12 billion euros in all EU programmes.
December 6, 2013
Austria to Raise Capital of up to € 30bn
In 2014, the Austria state will raise capital in the amount of € 28bn to 30bn from international capital markets. This year around € 29bn were raised.
December 6, 2013
Moody's: ECB Rate Cut Does Little for Economic Growth
ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.
December 5, 2013
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