Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
RBI Closes All Affiliates in Kyiv
Because of the most recent violent outbreaks in Kyiv the Ukrainian affiliate of Raiffeisen Bank International (RBI) has closed its affiliates in the country’s capital
February 21, 2014
Serbia: Structural Reforms to Boost FDI
Recent projections of the National Bank of Serbia (NBS) forecast foreign direct investments (FDI) to increase to € 1bn this year up from € 750m.
February 21, 2014
Fitch Keeps Rating for Austria at High Level
According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.
February 21, 2014
Spindelegger: Taxpayers Should Not Carry Whole Load
Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.
February 20, 2014
Austria: Rating Endangered
US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.
February 20, 2014
Austrian Government Wants International Group of Experts
More and more voices for a parliamentary investigation committee for ailing bank Hypo Group Alpe Adria are being raised even within the SPÖ and the ÖVP. However, the government has other plans.
February 20, 2014
Bulgarians Pessimistic about Own Future
More than 90 percent of Bulgarian citizens deem the country to be in an economically bad situation.
February 20, 2014
Romania: President Fires Financial Supervision Authority
President Basescu fires the entire staff of the Romanian Financial Supervision Authority (ASF).
February 20, 2014
Serbian Governor: Banking Sector Stable
According to Tabakovic, governor of NBS, the Serbian banking sector was solvent and well-capitalized.
February 20, 2014
Liebscher: Government Is to Blame
Head of Hypo Group’s Task Force Klaus Liebscher rejects being turned into the scapegoat of delaying important decisions about the downsizing of the problem bank. Instead, he points his finger to the Austrian government.
February 20, 2014
EU Commission to Examine Slovenian Bank Restructuring Plan
Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.
February 20, 2014
Hypo Disaster: Who Are the Beneficiaries?
International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.
February 19, 2014
Austria Most Popular Country among Hungarians
93 percent of Hungarians feel compassion towards Austria.
February 19, 2014
Low Expectations in Nuclear Talks with Iran in Vienna
Optimism among officials about successful talks to end Iran’s nuclear program is restrained.
February 19, 2014
Zeman: Entry in Eurozone Delayed
In a speech to the Lower House ahead of the vote in confidence for the new government Czech President Milos Zeman expressed his dissatisfaction over the latest monetary intervention by the Czech National Bank (CNB).
February 19, 2014
Poland Ranks High in FDI Attractivity
Polish cities are still very attractive for FDI, according to fDI Intelligence.
February 19, 2014
Picker: Hypo to Cost Taxpayers “Only” up to € 4bn
According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.
February 19, 2014
Czech Republic: New Government Passed Vote of Confidence
The new Czech government under Prime Minister Bohuslav Sobotka has passed the vote of confidence in parliament yesterday.
February 19, 2014
Austria: Moody’s Downgrades Four Bonds
Moody’s downgraded four bonds of Austrian banks on Tuesday. The outlook is negative.
February 19, 2014
Hypo-Disaster: Government Playing Hide and Seek
After the emergency sitting in the National Assembley, which was demanded by the opposition parties and took place yesterday, the Austrian government refused to answer questions to the press and the public.
February 18, 2014
Conference on Combating Human Trafficking
Joint Council of Europe – OSCE high-level conference on combating human trafficking, 17-18 February at Hofburg, Vienna.
February 18, 2014
Erste: CEE Financial Market Not Concerned by Low Inflation
Low inflation will not change CEE market forecasts, according to Erste Group.
February 18, 2014
Poland: PKO BK Still Wants to Take Over Nordea
PKO BP had to extend the subscription period for the second time.
February 18, 2014
Spindelegger Positive about Creation of Financial Transaction Tax
In the run-up to the beginning of the ECOFIN Council in Brussels, negotiations about the further proceeding of the financial transaction tax were held among eleven EU finance ministers.
February 18, 2014
Poland: Strong Prospects for High Growth
Prime Minister Donald Tusk is positive Poland will achive a GDP growth of more than three percent this year.
February 18, 2014
Nowotny: Negative Interest Rate Conveys Feeling of Crisis
Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.
February 18, 2014
Czech Republic: Government Asks for Vote of Confidence
The new Czech government was appointed at the End of January. On Tuesday Prime Minister Bohuslav Sobotka and his cabinet will ask for a vote of confidence in parliament.
February 18, 2014
Romania: Fit for Eurozone?
According to estimates by the Romanian government, the country is fit for joining the single currency union.
February 17, 2014
Slovenia: Heading for Recovery
Slovenia seems to have circumnavigated the crisis as the small country is not a Eurozone bail-out candidate anymore, according to Prime Minister Bratusek.
February 17, 2014
Austria: Still No Clarity in Hypo Group Disaster
The Austrian parliamentary parties continue to shift the blame onto each other. Details still have not been presented yet.
February 17, 2014
Serbia: Fast Implementations of Reforms Crucial
Tanja Miscevic, chief negotiator in the EU accession talks, announced on Sunday that elections in Serbia are not slowing down the process in European integration.
February 17, 2014
Government Downplaying Effects of Hypo Group Desaster
Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.
February 17, 2014
Hypo Group: „Austrian Government Has Negotiated Poorly“
In the cause of the nationalized Balkan lender Hypo Group Alpe Adria, the performance of the Austrian government is miserable, according to Austrian economist Christian Keuschnigg.
February 16, 2014
Threat of Bankruptcy: Moody´s Cuts Hypo Group Alpe Adria´s Rating
The U.S. rating agency downgrades the rating of the Austrian nationalized lender by four notches. Moody´s referred to the uncertainty and the vague statements of the Austrian government.
February 15, 2014 · Updated: February 15, 2014; 18:47
Hypo Group Alpe Adria: Nowotny Attacks Fekter
Governor of the Austrian National Bank (OeNB) Ewald Nowotny criticizes former Minister of Finance Maria Fekter sharply and blames her for inactivity.
February 15, 2014 · Updated: February 15, 2014; 18:19
Bosnia: The Calm After the Storm
The protest movement has lost momentum. The future of Bosnia is more uncertain than ever before.
February 15, 2014
Kurz: “We Want Serbia to Join EU ASAP”
According to the Austrian Foreign Minister, the prospect of an EU membership could help accelerate the implementation of reforms.
February 14, 2014
EU Puts Limit to State Aids for Hypo Group
So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.
February 14, 2014
Serbia: Key Rate Kept Untouched
The board of the National Bank of Serbia (NBS) underlined the importance of a cautious monetary policy in the light of the current economic developments.
February 14, 2014
Slovakia: Vote of No Confidence against PM Failed
The vote of no confidence against Prime Minister Robert Fico failed in parliament.
February 14, 2014
Serbia: FDI of Great Importance for Economy
According to Deputy Prime Minister Vucic, the country’s biggest problem was the rate debt rate and fiscal deficit.
February 14, 2014
„We Were Cheated by BayernLB“
Hannes Androsch, head of the Hypo Group task force, thinks that the former Austrian government has made serious mistakes.
February 13, 2014
IHS Rejects Hypo Group’s Bankruptcy
According to Keuschnig, it is also a question about a “national bankruptcy“.
February 13, 2014
Improving Situation in Slovenia
Banka Slovenije points out that the finance industry was negatively affected by provisions and write-offs. However, the situation seems to be improving.
February 13, 2014
Austria: RBI to Pay Back State Capital in March
€ 1.75bn in state aid will be transferred around March 15 if the Financial Market Authority agrees to the repayment.
February 13, 2014
Spindelegger: “Hypo Already Burdened Budget in Past”
The government has still not yet published figures in regard to the current fiscal burden emerging from the winding-up of problem bank Hypo Group Alpe Adria.
February 13, 2014
Singer: “Forex Interventions Were Right Measures”
Miroslav Singer, Governor of the Czech National Bank (CNB), considers the forex intervention and the weakening of the Czech Crown as the right measures in the light of the most recent inflation figures.
February 13, 2014
Testimony Against Former Kazakh Diplomat
Today, a press conference about suspected damaged persons by former Kazakh ambassador to Austria, Rahat Aliyev, who is alleged to have disappeared in Malta, will take place at the Media Quarter Marx in Vienna.
February 13, 2014
Serbia: FDI for Sustainable Growth
Serbia needs FDI in the amount of € 2bn at least to stimulate sustainable growth, according to experts.
February 12, 2014
Hypo Group: Emergency Sitting in National Assembley Fixed
An extraordinary session in the National Assembley will take place next Monday in regard to Hypo Group Alpe Adria.
February 12, 2014
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