Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Hypo Group Alpe Adria: Austrian Government Becomes Nervous
Although the participation of the private banking sector is unrealistic, the Austrian government does not give up. However, the time pressure grows week by week.
January 18, 2014
Czech Republic: Euro Introduction Has no Priority
In an interview with Bloomberg, designated prime minister Bohuslav Sobotka said that there will be no date for entering the Eurozone in the current term.
January 17, 2014
Croatia: “Loose Monetary Policy Shows First Signs of Success”
Boris Vujcic, governor of HNB (Croatian National Bank) thinks that the quantitative easing policy works.
January 17, 2014
S&P Optimistic About Slovenia
The U.S. rating agency reiterated the Slovenian sovereign debt rating at A-. The outlook remains “stable”. S&P´s analysts consider Slovenia´s crisis management as adequate.
January 17, 2014
Czech Republic: Sobotka Sworn in as PM
Head of the Czech Social Democrats (CSSD), Bohuslav Sobotka, was sworn in as new Prime Minister by President Milos Zeman on Friday afternoon.
January 17, 2014
Slovenia: Controversies over Ambassador’s Statements
Joseph Mussomeli, US ambassador to Slovenia, needs to justify himself to the Slovenian Foreign Ministry over his statements about the country’s independence.
January 17, 2014
Hungary: Forex Loan Problem to be Solved
According to the Hungarian National Bank (MNB), the problem of the foreign-exchange loans could be solved in the next half year.
January 17, 2014
Audit Court Criticizes Austrian Government Sharply
Josef Moser, president of the Austrian Audit Court, has sharply criticized the government’s resolution.
January 17, 2014
Austrian State Sues Six Banks
The Republic of Austria filed lawsuits against six lending banks of bankrupt construction enterprise Alpine.
January 17, 2014
WSE to Become Regional Leader?
The Warsaw Stock Exchange (WSE) hopes to take over a “dominant” role in trading in Central Europe, as announced by GPW, the bourse’s operator, on Thursday.
January 17, 2014
Slovenia Attracting FDI from US and UK
The Slovenian Ministry of Finance is taking great efforts to attract investors from the US and the UK.
January 17, 2014
Bank Levy: Austrian Regional Banks Under High Pressure
The Austrian government will raise the bank levy significantly. Smaller banks have to perform disproportionately high taxes, Oberbank´s CEO Franz Gasselsberger says.
January 16, 2014
$ 1.0trn Capital Shortfall in European Banking Sector?
According to U.S. economists, the stress tests carried out by the European Central Bank are too soft.
January 16, 2014
BayernLB Bought Hypo Group Alpe Adria above Value
Apparently former member of BayernLB’s supervisory board acquired Hypo Group Alpe Adria above its value.
January 16, 2014
Poland Added in IMF´s Watch List
According to the International Monetary Fund, Poland is one out of four new countries which are systemically important in terms of crisis management.
January 16, 2014
Croatian Economy Suffers from Low Investor Confidence
In the first nine months of 2013, FDI continued to shrink. However, the FDI will improve gradually, analysts say.
January 16, 2014
Austria: What Happened to the Budget Gap?
The question remains even after the government was confirmed and the first tax package presented.
January 16, 2014
Bulgaria: Loan Portfolios Expected to Increase
The increase in industrial production will have a positive effect on the number of loans taken out.
January 16, 2014
Causa Aliyev: Austrian Justice Minister under Pressure
Austrian Justice Minister Brandstetter has registered more former members of the Kazakh secret service than was previously known.
January 16, 2014
Expansion Course of Austrian Banks Slowed Down
After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.
January 16, 2014
Hypo Group: Other Downsizing Unit than Bad Bank?
Rumors about other models than a bad bank have appeared.
January 15, 2014
S&P: Polish Banks to Remain “Strongly Profitable”
In 2014’s outlook on Polish banks rating agency Standard&Poor; announced that Polish banks are expected to benefit from an ongoing economic recovery and remain “strongly profitable”.
January 15, 2014
Citizens from CEE Major Benefit for EU
A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.
January 15, 2014
Austria: On Verge of Losing Business Attractiveness
The new tax package does not only burden car drivers and smokers but also the economy will have to contribute to the budget with several hundreds of millions of Euros annually.
January 15, 2014
Sajdik New Chairman of UN ECOSOC
The Austrian diplomat Martin Sajdik became President of the Economic and Social Council, which is one of the most important bodies of the UN.
January 15, 2014
Hypo Group: No Alternative to Bad Bank
The time pressure on the Austrian government is growing day by day. The nationalized Austrian problem bank urgently needs a bad bank.
January 14, 2014
IMF and EBRD Deeply Concerned Over CESEE
Foreign banks continue to withdraw capital from the region. According to the International Monetary Fund, the development is highly considerable.
January 14, 2014
Bank Austria Declines Selling Plans in Ukraine
CEO of Bank Austria, Gianni Franco Papa, rejects rumors about Bank Austria intending to leave the Ukraine.
January 14, 2014
Czech Republic: Economic Growth Expected to Expand
The Czech Banking Association (CBA) has adjusted its economic forecast and expects a growth rate of 1.9 percent for the Czech economy this year.
January 14, 2014
CESEE: Number of NPL Declining
According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.
January 14, 2014
Nowotny Sees Growth Potential in Eurozone and CEE
According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.
January 14, 2014
Bank Austria Generates Fresh Capital
On Monday, January 13, UniCredit Bank Austria issued its first mortgage bond for 2014 to strengthen its capital base.
January 14, 2014
CESEE: Lack in FDI Causes Modest Economic Growth
The International Monetary Fund (IMF) is cautiously optimistic about economic growth in CESEE.
January 14, 2014
Austria: Expert Paper for Hypo Group’s Bad Bank
An expert paper about possible downsizing options for state-controlled problem bank Hypo Group Alpe Adria is expected to be handed in to the government until the middle of the week.
January 13, 2014
CNB: Significant Increase in Profits
Due to the forex interventions in November last year, the Czech National Bank (CNB) was able to increase its results.
January 13, 2014
Austria: Distribution of Wealth Extremely Unequal
The top one percent of Austrian households possesses more than 50 percent of all investment income.
January 13, 2014
Serbia Facing Testing Year
The Serbian government is currently working on a plan to improve the competitiveness of domestic enterprises.
January 13, 2014
Poland to Cover Borrowing Needs Early
The biggest CESEE economy wants to raise cash before the U.S. FED begins to reduce its asset buying program. The CESEE region will absorb the monetary shock, though.
January 13, 2014
Polish Government to Focus on Social Security
According to Poland´s Prime Minister Donald Tusk, the reduction of unemployment and the improvement of social security will be priority issues in 2014.
January 13, 2014
Basel III Framework to be Softened
The Basel Committee´s oversight body has amended the leverage ratio rules. For the banking industry, this step is an important success.
January 13, 2014
Austrian Budget Planning to be Completed in May
The six groups in the National Assembley have agreed to the parliamentary plan for the first half year of 2014.
January 13, 2014
Austria: VBAG Not to Receive Further Aids
Ailing banking institute VBAG of the Austrian Volksbanken Group will not be granted further state aids.
January 13, 2014
Czech Fiscal Policy: Major Difficulties Ahead
Despite austerity measures, the Czech debt spiral was up considerably in the past years.
January 11, 2014
Bulgaria: Fitch Confirms Rating at “BBB-“
According to Fitch, the outlooks are stable. In case of an increase in political and social tensions, Bulgaria´s current rating would be in danger, however. Bulgaria´s financial situation is satisfying, though.
January 11, 2014
Austria: Significant Increase in Bank Levy
In 2014, the bank levy is expected to increase substantially. Austrian banks regard the levy as massive competitive disadvantage.
January 10, 2014
Hungary: Further Monetary Cuts Not Unlikely
Adam Balog, deputy governor of the Hungarian National Bank (MNB), argues that there is still downward potential.
January 10, 2014
Poland: Finance Minister Optimistic About Growth
According to Finance Minister Mateusz Szczurek, economic growth in Poland could exceed three percent year-on-year in 2015.
January 10, 2014
Austria: Hypo Group Looking for New CRO
Deputy CEO and chief risk officer of Hypo Group Wolfgang Edelmüller will resign as of the end of February.
January 10, 2014
Czech President Announces Appointment of Government
After months of disputes between the election winner and Czech President Milos Zeman, the date of the appointment of the new government was announced.
January 10, 2014
Austria: Wifo Expert Calls for Structural Tax Reform
According to Wifo-expert Schratzenstaller, the planned tax burdens on tobacco and automobiles are “largely useful”.
January 10, 2014
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