Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Belka: Recovery Will Be Longer
According to Marek Belka, governor of the National Bank of Poland (NBP), the country’s economy sees a continuing and persistent recovery.
December 5, 2013
Moody's: ECB Rate Cut Does Little for Economic Growth
ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.
December 5, 2013
ECB: Debates about Further Measures in Monetary Policy
Today the 23 member of the European Central Bank’s Council have initiated debates about the the stance of monetary policy. The base rate, lowered to 0.25 percent last month, is expected to remain unchanged.
December 5, 2013
Poland: BGZ Bank Taken Over by BNP Paribas
Polish BGZ Bank will be taken over by French BNP Paribas for a selling price of around € 1bn.
December 5, 2013
Slovenia: National Bank Rejects Rumors
The Slovenian National Bank has reacted to the increasing number of reports on the possible result of the stress tests at eight Slovenian Banks.
December 5, 2013
Poland: Benchmark Rate Remains Unchanged
The Polish National Bank (NBP) holds the reference rate at its record low of 2.5%.
December 4, 2013
Faymann: “No Outstanding Issues That Cannot Be Solved“
In an interview with Austrian daily “Kurier“ Chancellor Werner Faymann rejects the idea of early elections and underlines that there were no unsolvable issues.
December 4, 2013
Bank Austria: Massive Case of Customer Data Abuse.
Bank Austria files a lawsuit on the abuse of consumer data as Austrian magazine “News” got hold of data of around 5,000 costumers
December 4, 2013
RZB Faces Severe Restructuring Measures
The Raiffeisen Zentralbank (RZB) is facing severe restructuring and downsizing measures as it has to cut the number of employees.
December 4, 2013
Austrian Insurance Companies to Grant Credits
The Financial Market Authority has given green light to Austrian insurance companies for handing out loans. Insurers hope for an improvement in investment income.
December 4, 2013
Spindelegger: Reforms Remain “Watchword“
Today Deputy Chancellor Michael Spindelegger has reported to President Heinz Fischer about “difficulties” in the coalition negotiations, as announced by Spindelegger publicly.
December 4, 2013
Austria: Insolvency of Hypo Group Still an Option
Both the center of government and the Austrian National Bank (OeNB) reject Hypo Group’s bankruptcy. However, insolvency options are currently being assessed by the Finance Ministry and the Federal Law Office.
December 4, 2013
UniCredit: Withdrawal from Hungary as Potential Option
UniCredit does not completely rule out a withdrawal from the Hungarian market in case further burdens will be imposed on banking institutes.
December 4, 2013
Bank of Albania Presses for Agreement with IMF
The Albanian economy from short-term adjustment toward long-term sustainable growth. Why Albania needs an agreement with the IMF.
December 4, 2013
Faymann: Austrian State Finances are Stable
Chancellor Werner Faymann rejects the opposition’s claim that Austria is on its path to national bankruptcy.
December 3, 2013
Uniqa on Successful Growth Path in Bosnia and Herzegovina
Provisions increased by 15.2 percent in the first three quarters of the year and generated the second-highest growth rate. Moreover, the market share was extended to 12.2 percent.
December 3, 2013
Slovenia: LJSE Suspended Trading Bank Shares
According to the Stock Exchange "not all conditions for a fair, orderly and efficient trading in the securities are satisfied."
December 3, 2013
UniCredit Bank Ukraine and Ukrsotsbank to be Merged
CEE Division completes additional steps in business refocusing.
December 3, 2013
Austria: Government Rules Out Hypo Group’s Insolvency
Chancellor Faymann referred to incalculable economic and political consequential effects due to the liabilities assumed by Hypo Group Alpe Adria.
December 3, 2013
Bratusek: Slovenia Will Manage Bank Rescue
According to Prime Minister Bratusek, Slovenia will manage the bank rescue on its own.
December 3, 2013
Austria: Debt Quota to Increase Slightly
Because of the new EU regulations the debt quota will increase by around 2.5 percent.
December 3, 2013
Poland: GDP Growth Speeds up
The long-awaited economic recovery starts to accelerate in Poland.
December 2, 2013
Austria: Bawag to Pay back Participation Capital
The Austrian Bawag announced its plans about paying back a further tranche of the state capital participation.
December 2, 2013
Hungary: Matolcsy Demands Resignation of EU Commissioner
György Matolcsy, Governor of the Hungarian National Bank (MNB), demands a better rating for Hungary and the resignation of EU Commissioner Olli Rehn.
December 2, 2013
Bank Austria: Sales Proceeds for Kazakh Affiliate Dropped
Sales proceeds of Bank Austria’s Kazakh affiliate ATF Bank only came at € 294m which is significantly less than announced by the bank in the first half year.
December 2, 2013
Bosnia: NPLs Increasing Dramatically
Almost 15 percent of the total volume of loans in Bosnia are bad.
December 2, 2013
Austria: President Presses for Progress in Coalition Negotiations
It has been two months after since the coalition negotiations started after the elections for the National Assembley. However, there has been not visible progress.
December 2, 2013
Hungary: Economic Acceleration Takes Form
According to French BNP, the Hungarian economy starts to grow again. Nevertheless, the banking industry does not face better times yet.
November 29, 2013
Sevelda: „We Are Close to the Breaking Point“
In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.
November 29, 2013
„We Can Exclude a Bankruptcy of Hypo Group”
Ewald Nowotny, governor of the Austrian National Bank (OeNB) and Klaus Liebscher, head of Hypo Group´s supervisory board argue that the nationalized bank will be downsized according to plan.
November 29, 2013
Austria: Tax Losses Amount to € 2bn in 2014
The Austrian People’s Party estimates tax losses in the amount of € 2bn for the coming fiscal year as announced by State Secretary for Foreign Affairs Reinhold Lopatka in an interview with radio station Ö1.
November 29, 2013
RBI Calls for Better SME Financing in Europe and CEE
RBI CEO Karl Sevelda calls for improvement of SME financing.
November 28, 2013
PwC: Turbulent Years for Banks
According to a study by PricewaterhouseCoopers (PwC) the core capital of European banks need to be increased significantly.
November 28, 2013
Leitl: Growth Stimulating Measures for Budget Consolidation
Leitl calls for growth stimulating measures which are the basis for the consolidation of the Austrian budget.
November 28, 2013
Germany Claims Key Positions at EU Banking Regulator
The German federal government claims one key position in the European banking regulator.
November 28, 2013
Poland Looking for Investors for PHN
Polish real estate group PHN (Polski Holding Nieruchomości S.A.) is searching for an investor.
November 28, 2013
EU Needs Investments for Growth
Europe will not see any substantial growth without serious investment in research and innovation.
November 28, 2013
Croatia: Milanovic Promises Economic Recovery
Prime Minister vows that Croatia's economy will be put on a sounder footing.
November 28, 2013
Hungarian Parliament Resolves 2014 Budget
Hungary´s scheduled budget deficit in 2014 comes at 2.9% of the GDP. Economists are in doubt whether the deficit will be achieved.
November 27, 2013
Serbia: Further Austerity Measures Probable
In October, Serbia´s government has resolved a drastic austerity package.
November 27, 2013
ECB Considers Restricting Credits
The ECB takes the option of restricting banking to industrial enterprises only into consideration.
November 27, 2013
EU Financial Transaction Tax to Become a Flop?
Experts do not expect the financial transaction tax to become effective next year.
November 27, 2013
Croatia: HNB Pushes Credits
According to reports by Reuters, the Croatian National Bank (HNB) intends to issue HRK 4bn (US-$ 707m) to support credits. Further details will be published by the Central Bank later this week.
November 27, 2013
Hungary: Monetary Policy Eases Further
Today, Hungary´s National Bank (MNB) has cut the two-week deposit rate to 3.2% from 3.4%. The government is optimistic that the monetary easing will help Hungary´s economy.
November 26, 2013
Poland: Szczurek Calls for Radical Tax Reform
Poland´s designated Minister of Finance Mateusz Szczurek wants the change the current Polish tax system fundamentally.
November 26, 2013
CESEE: Austrian Banks Face New Challenges
For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.
November 26, 2013
Dispute about NLB Reignites between Slovenia and Croatia
Damaged savers of NLB filed lawsuit against the bank at the European Court for Human Rights.
November 26, 2013
Czech Republic: CNB Aquires Foreign Currencies
During monetary interventions CNB has purchased foreign currencies in the amoung of CZK 200bn.
November 26, 2013
WKO: Better Framework Conditions for SMEs
Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.
November 26, 2013
Hypo Investigations Could Last Several More Years
Yesterday the first court proceeding at the Regional Higher Court in Munich started. Investigations in Austria will take up to four years.
November 26, 2013
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