Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
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
Austrian Raiffeisen Sector to Create Risk Fund
In order to establish a cross-guarantee system, the Austrian Raiffeisen sector has to create a risk fund in the amount of € 400m.
January 27, 2014
Hypo Group Alpe Adria: Austrian Government Is Helpless
The nationalized lender urgently needs a sustainable future concept. In reality, however, uncertainty is dominating.
January 27, 2014
Hypo Group Denies New Capital Shortfall
The nationalized Austrian lender Hypo Group Alpe Adria is said to require fresh founds in the amount of € 500m. The bank´s management claims the opposite.
January 25, 2014
S&P Keeps an Eye on Slovenian Banking Sector
The rating agency highlights the critical conditions of the Slovenian banking industry.
January 25, 2014
Hungary Faces Trend Reversal in Monetary Policy
The Hungarian National Bank (MNB) has cut the reference rate to 2.85% from 3.00%. The end of the easing cycle is not reached yet.
January 25, 2014
EBRD Presents New Strategy for Bosnia
The new strategy focuses on the development of small and medium-sized enterprises and the exporting industrial sector.
January 25, 2014
Romania´s President Opposes the IMF
Traian Basescu is strictly against imposing an additional tax on fuel. Whether Romania will achieve the budget target is highly uncertain.
January 24, 2014
Poland: More than Half of Borrowing Needs Covered
In CESEE, governments are in a hurry. The Polish government announced that about 50% of the borrowing needs could be covered in the first three weeks of 2014.
January 24, 2014
Croatia: S&P Downgrades Rating
Standard&Poors; has downgraded Croatia’s rating to “BB”. The outloock on the long-term rating for the country is at least “stable”.
January 24, 2014
Austria: OeNB Forecasts Modest Economic Growth
According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.
January 24, 2014
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