Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Hungarian National Bank: Market Manipulation Caused Fall in Forint
Hungary´s currency is under pressure again. In the last few weeks, the Forint has fallen substantially against the euro.
February 5, 2014
Hypo Group Alpe Adria: Fitch Recommends “Joint Bad Bank”
According to the rating agency, the best alternative is a joint solution between the Austrian state and privately held banks. In return, the bank levy should be reduced, Fitch says.
February 5, 2014
Romania: Remarkable Development Since 2000
The advisory firm pwc has compiled a study on the economic progress of advanced and emerging economies. Poland and Romania are one of the top performers.
February 5, 2014
Roubini: Hungary in Difficulties
A number of emerging countries are facing enormous problems, according to economist Nouriel Roubini. Also countries in Central, Eastern and Southeastern Europe are affected.
February 5, 2014
“Hypo Group Bankruptcy Would Affect RBI Adversely“
According to the Vienna-based Raiffeisen Bank International, both a joint bad bank and Hypo Group´s insolvency have negative consequences on RBI´s share.
February 5, 2014
Austrian Minister of Finance Under Fire
Christoph Leitl, President of the Austrian Chamber of Economics, criticizes the Austrian government sharply. Minister of Finance Michael Spindelegger is put on the defensive.
February 5, 2014
Czech Republic: Rusnok to Become CNB Board Member
Czech President Milos Zeman will appoint former Czech prime minister Jiri Rusnok as new board member of the Czech National Bank.
February 4, 2014
Criticism of Croatia´s Fiscal Policy
Next year, Croatia´s government wants to comply with the EU fiscal rules. According to economists, this aim is not realistic.
February 4, 2014
IMF: Bulgaria May Reach European Standards in 40 Years
According to the International Monetary Fund, the poorest EU member faces a long transition period.
February 4, 2014
Romania: Base Rate at Record Low
Today, the Board of the National Bank of Romania has cut the base rate to 3.50 % from 3.75%. Since July, borrowing costs were cut by 175 bps. Economists think that there will be no further cuts.
February 4, 2014
Austrian Government Does Not Rule Out Hypo Group´s Bankruptcy Anymore (2/2)
In the past few weeks, the Austrian government and the Austrian National Bank excluded this alternative categorically. Now, the bankruptcy scenario seems to be an option again.
February 4, 2014
Austrian Government Does Not Rule Out Hypo Group´s Bankruptcy Anymore (1/2)
In the past few weeks, the Austrian government and the Austrian National Bank excluded this alternative categorically. Now, the bankruptcy scenario seems to be an option again.
February 4, 2014
„Hungary and Austria Must not Become Enemies“
Ewald Nowotny, governor of the Austrian National Bank (OeNB) wants a solution between the Hungarian government and the Austrian banking sector.
February 4, 2014
EBRD: CESEE Not Under Pressure Yet
According to the European Bank for Reconstruction and Development, most countries in CESEE are relatively unaffected despite the renewed pressure on emerging markets.
February 4, 2014
Hypo Group: Calls for Bankruptcy Become Louder
The Austrian government wants to prevent the bankruptcy of the nationalized lender Hypo Group Alpe Adria. However, there are better arguments for an orderly insolvency.
February 3, 2014
CESEE: Corruption Is Still a Major Obstacle
The European Commission has published its first Anti-Corruption Report today. Above all, the economies in Southern and Southeastern Europe are suffering from corruption.
February 3, 2014
Bulgaria: IMF Puts Pressure on Government
The International Monetary Fund demands Bulgaria´s government to accelerate economic reforms.
February 3, 2014
Czech Republic: Euro Not Before 2020
Czech new Minister of Finance Andrej Babis thinks that the euro will not be introduced in the next few years.
February 3, 2014
Serbia: First License Withdrawal of Private Bank
For the first time in the Serbian history, a privately held bank loses its license.
February 3, 2014
„We Must Watch CESEE Very Carefully“
In an interview with the Austrian daily „Standard“, board member of Österreichische Kontrollbank AG Angelika Sommer-Hemetsberger said that the economic crisis in CESEE is not over yet.
February 3, 2014
Austria: Massive Increase in Unemployment
At the beginning of February, 450,000 Austrians were jobless. In absolute terms, is a new record high.
February 3, 2014
Tusk: No Monetary Interventions Necessary
In the past few months, the Polish zloty fell significantly. However, Poland´s Prime Minister Donald Tusk thinks that the zloty does not need support.
February 3, 2014
Suspicious Secrecy in the Cause of Hypo Group Alpe Adria
In the matter of Hypo Group Alpe Adria, the Austrian government acts disconcertingly. Details on the situation of the nationalized banks are still kept as a secret.
February 1, 2014
Hungary: Next Currency Crisis Ahead
The extremely loose monetary policy begins to become a problem for Hungary. The forint exchange rate is going up considerably.
February 1, 2014
Stress Tests Become Harder
Experts expect that not all banks participating in the examination will pass the stress test.
February 1, 2014
KBC Does Not Leave Hungary
The Belgian lender rejected rumors saying that the Hungarian unit may be sold. Not only KBC faces enormous difficulties in Hungary.
February 1, 2014
Croatia: Monetary Interventions to Stabilize Kuna
On Friday the Croatian national bank sold € 240.2m to commercial banks.
January 31, 2014
Upgrades for Slovenian Banks
The long-term ratings of three banks were upgraded by Moody’s.
January 31, 2014
Hungary: Stable Economy, Weak Currency
According to Prime Minister Orban the volatility of the Hungarian Forint is based on global factors.
January 31, 2014
Austrian Government Skirting around Decision over Hypo
A paper reporting about the four options for downsizing Hypo Group has not been published by the government yet.
January 31, 2014
Poland: Economic Growth in 2013 above Expectations
GDP growth in Poland came at 1.6 percent year-on-year in 2013 which is 0.1 percent above expectations.
January 31, 2014
Austrian Industrial Sector only Sees Weak Recovery
The Federation of Austrian Industries (IV) warns about a fragile economic recovery.
January 30, 2014
Serbia: EU Enthousiasm Kept in Limits
A survey among Serbian citizens about an EU membership reveals weak support.
January 30, 2014
Poland: NBP Sees No Reason for Weakening Zloty
According to Eugeniusz Gatnar, board manager of the National Bank of Poland (NBP), there was no fundamental reason for monetary intervention.
January 30, 2014
WKO Rejects Further Financial Burdens for Banks
According to the Austrian Chamber of Commerce (WKO), the financial burdens of banking institutes in Austria are significantly higher than those of their competitors in other EU member states.
January 29, 2014
Euro-Introduction: Cutting Debts Precondition for Poland
Finance Minister Mateusz Szczurek stressed that cutting debts was a key condition for Poland before it could be admitted to the single currency union.
January 29, 2014
Slovenia: Dispute with Croatia Just Begun
Slovenian Foreign Minister Erjavec announced to continue dispute against Croatia.
January 29, 2014
Austria: Government Makes € 1bn for Hypo Group Available in Budget
Nationalized problem bank Hypo Group Alpe Adria has listed a need for state subsidies in the amount between € 400m and € 900m in this year’s downsizing plan.
January 29, 2014
Austria: IHS Against Bank Levy
Christian Keuschnigg, director of the Austrian economic research institute IHS stresses that the bank resolution funds would replace the bank levy.
January 28, 2014
Spindelegger: “No Exploitation of Resolution Funds”
Among the finance ministers in Europe, there are still different perceptions regarding the bank resolution fund.
January 28, 2014
Capital Increase at RBI Hungary
RBI (Raiffeisen Bank International) will make a capital injection of € 55m in its Hungarian affiliate
January 28, 2014
Austria: Opposition Presses for Information
The Austrian Greens demand information in regard to problem bank Hypo Group Alpe Adria.
January 28, 2014
New Czech Government in Dispute
The new Czech government is in dispute even before it was officially sworn in.
January 28, 2014
Austria: RZB’s Share in RBI Drops Dramatically
The share of Raiffeisen Zentralbank (RZB) in its affiliate Raiffeisen Bank International (RBI) drops dramatically after the capital increase.
January 28, 2014
Austria: Bank Particpation Still Uncertain
It is still unclear whether the Austrian banks will participate in a downsizing construction of Hypo Group. First results will be presented in February
January 28, 2014
OECD Shows Great Concern over Hungarian Economy
According to the OECD, the country’s recovery from recession will be weak in 2014 and 2015
January 27, 2014
NLB Closing Moscow Office
The step is part of the restructuring and downsizing procedure.
January 27, 2014
“Croatia Going through Very Difficult Period“
The World Bank calls for structural reforms in the Western Balkan state.
January 27, 2014
Nowotny: “We Want Clarity“
The governor of the Austrian National Bank presses the government for swift actions to find an acceptable downsizing solution for Hypo Group. Further steps will only be made in February.
January 27, 2014
Restrained Optimism in Polish Financial Market
According to Finance Minister Szczurek, the Polish Financial Market will have to face another challenging year.
January 27, 2014
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