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

Szczurek: EU Funds to Create Growth

Poland´s designated Minister of Finance Mateusz Szczurek explained that EU contributions will be used to support Polish GDP growth.

November 23, 2013

Slovakia Benefits Substantially from EU

In the next fiscal term from 2014 to 2020, Slovakia will receive net contributions of € 14bn. Without the EU contributions, Slovakia´s fiscal situation would be difficult.

November 23, 2013

Ukraine Leaves Path Towards EU

After the Association Agreement between the Ukraine and the European Union failed head of state Mykola Asarov stated economic reasons for the abrupt stop.

November 22, 2013

Czech Republic: CNB Facing Investigations

Czech Senator Dryml ordered the head of counter-intelligence service (BIS) Jiri Lang to initiate investigations against the Czech National Bank (CNB).

November 22, 2013

Eurozone: Nouy New Manager of ECB’s Banking Suvervision

Daniele Nouy will become the new head of the ECB’s banking supervision.

November 21, 2013

Czech National Bank Not Intending Further Forex Interventions

According to Miroslav Singer, governor of the Czech National Bank, the authority is not planning on taking further measures at the forex market to weaken the Czech Crown (CZK).

November 21, 2013

Poland: Reshufflement at Government

A major reshufflement is currently under way at the Polish government.

November 20, 2013

Buwog Aquires Portfolio in Berlin

Buwog has once more acquired apartments at the German real estate market.

November 20, 2013

Hypo Group: Investors Claim Refunds

A group of aggrieved investors in Hypo Group Alpe Adria files claims for damages. These so-called small investors provided amounts from € 30,000 to € 300,000 and feel disadvantaged compared to bigger investors.

November 20, 2013

Capital Shortfall at European Banks

According to Boston Consulting Group, European Banks still have much work to do.

November 19, 2013

Austria: High Tax Country

According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.

November 19, 2013

OECD: Restructuring of Banks Required

The Organization for Economic Cooperation and Development (OECD) calls for a fast progress in the establishing of a banking union in the Eurozone and restructuring of the banking sector to boost economic growth.

November 19, 2013

„Not Enough Bank Insolvencies“

Andrea Enria, head of the European Banking Authority (EBA), claims that the banking landscape did not change sufficiently.

November 18, 2013

Nowotny: Economic Recovery not as Strong as Expected

According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), indicators point toward a slow recovery in the next quarters.

November 18, 2013

Slovenia Issues New Eurobonds

The issuance of a new bond in the amount of € 1.5bn on Friday came as surprise as Prime Minister Alenka Bratusek has annouced earlier no such measures will be made until the beginning of the new year.

November 18, 2013

Linic: No Aid from IMF Needed

According to Croatia´s Minister of Finance Slavko Linic, the country will manage the financial crisis on its own.

November 15, 2013

EU Commission Criticizes Austria Once More

The EU Commission has again criticized Austria and Luxembourg and demands the countries to stop blocking the extensive exchange of tax data.

November 15, 2013

Slovenian Government Wins Vote of Confidence

As expected, on Friday the Slovenian center-left government of Prime Minister Alenka Bratusek has won a vote of confidence.

November 15, 2013

Austria: Inflation at Lowest Level in Three Years

Inflation rate in Austria decreased to 1.4 percent.

November 15, 2013

Austria: Fekter Indicates Resignation

Even before the general elections in September rumors were circling around about Finance Minister Maria Fekter’s withdawal from her position.

November 14, 2013

EU Commission: Slovenia Makes “Key Progress”

Slovenia is among 16 EU member states that require comprehensive assessment of macroeconomic imbalances. According to a report published by the EU Commission, the small country shows significant improvement.

November 14, 2013

ECB Still Has Further Tools

In spite of the most recent cut of the key rate by the European Central Bank (ECB) there is still some leeway downward. However, measures will affect the exchange rate of the common currency.

November 13, 2013

Austria: Downsizing Options for Hypo Group under Discussion

In the discussion about establishing a downsizing unit for ailing bank Hypo Group Alpe Adria, several possibilities are taken into account.

November 12, 2013

Half of Austrians Consider the Country Stuck in Recession

According to an online survey, the Austrians are confident and not concerned by the most recent recession in the Eurozone. With a total of 87 index points consumer’s confidence remained stable in the third quarter of 2013.

November 12, 2013

Austria: Nowotny Rejects Mood of Opposition against ECB

Ewald Nowotny, governor of OeNB, rejects the idea of having been part of a protest group against the European Central Bank’s (ECB) most recent monetary measures by cutting the key rate to an all-time low.

November 12, 2013

Nowotny Against ECB’s Key Rate Cut

The governor of the Austrian National Bank has, according to reports, voted against the ECB’s most recent interventions.

November 11, 2013

Czech Republic: CNB to Intervene in Forex Market

After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.

November 11, 2013

Interest Rate Cut: “Very Effective Property Tax“

Economists have judged the ECB’s cut in interest rate differently. According to Brezinschek, chief analyst at Raiffeisen International, savers that are not involved in speculative investments will not benefit from the latest key rate cut.

November 8, 2013

Stable Outlook for Recovery of Austrian Economy

The outlook for economic improvement has stabilized. Both Wifo’s economy test and Wifo’s early indicator point to an upward trend.

November 8, 2013

Croatia Under Brussel´s Observation

The new EU member country fights against a number of economic problems. Now, the EU-Commission considers starting an excessive deficit procedure.

November 7, 2013

Eurozone: Key Rate At Record Low

Low inflation was reason for ECB to lower key rate again by 0.25 percent.

November 7, 2013

Austrian Banks Forced to Prepare in Case of Bankruptcy

From 2014 on, the Austrian Banks are required to start planning the emergency scenario in case of a liquidation in order to be able and react more quickly.

November 7, 2013

ECB to Keep Interest Rate Low

Despite a low inflation, the European Central Bank (ECB) will keep the interest rate low. The Council of ECB has held a meeting on Thursday morning

November 7, 2013

Bulgaria: Banks Have More Assets at Disposal

With more money available, banks in Bulgaria are now able to grant more loans.

November 6, 2013

Romania: Growth Rates to Exceed Forecasts

According to the autumn forecast published by the EU Commission on Tuesday, Romania will exceed the previous estimates.

November 6, 2013

Austria: Compulsory Levy on Assets Simply “Out of Question“

Top bankers and economists in Austria consider the compulsory levy of ten percent on household assets “out of question” and “ludicrous”.

November 5, 2013

Hypo Group: Restraining Effect on Budget Consolidation

According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.

November 5, 2013

Number of Banks Shrinks Substantially

Since 2008, about 10% of the banks had to be closed in the Eurozone. In the last five years, 16,200 bank shops were shut down. In Austria, the situation is almost the same.

November 5, 2013

Serbia: FDI as Driver for Economy

Further decline in FDI could affect economic growth in the Western Balkan state. The Serbian government announced to push forward with amendmends to improve business environment and boost economic growth.

November 4, 2013

IMF Wants to Introduce Compulsory Tax

IMF’s idea of introducing a compulsory tax on household assets could decrease state debt earns harsh criticism. Economists reject the idea.

November 4, 2013

Czech Budget Deficit to Remain Below Approved Mark

The budget deficit in the Czech Republic increased to CZK 47.7bn in October from CZK 38.2bn in September.

November 4, 2013

Eurozone: Inflation Continues to Decrease

Euro area annual inflation down to 0.7 percent.

November 4, 2013

Industrial Sector: Growth Painfully Slow

According to a survey by research institute Markit, industrial production in the Eurozone increased in October for the fourth time in a row. However, the rate of growth is still low.

November 4, 2013

Slovenia: Highest Contribution of GDP to ESM

As reported by Slovenia Times, the country has spent 2.8 percent of GDP for the Euro Stability Mechanism (ESM) last year.

November 4, 2013

Boost for Municipal Infrastructure in the Western Balkans

EBRD and KfW launch new €100 million fund

November 4, 2013

Visegrad Countries Encourage Western Balkans to Join EU

Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.

October 31, 2013

Banks Jeopardize Austrian Triple-A Rating

In case further aids will become imminent, Austria could lose its rating.

October 31, 2013

Lopatka: EU Enlargement Process of Western Balkans Decisive for Austria

“Non-Enlargement” of Western Balkan states would be fatal for Austrian businesses operating in the region and the national economy.

October 31, 2013

Slovenia on Top of Prosperous Countries in Emerging Europe

Slovenia is leading the list of prosperous countries in Emerging Europe. Bulgaria is on the last position.

October 30, 2013

Cernko: Bank Shops in Austria Have to Be Reduced

In spite of the banks’ progresses Austria still has a high densitiy in bank branches.

October 30, 2013