Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Czech Republic: Opposition Rejects Austerity Measures
Opposition leader Sobotka was re-elected last Friday as chairman of the Social Democrats. In an interview with Reuters he explains why the government needs to slow down on austerity measures.
March 18, 2013
Poland: Tusk Appears Optimistic On 2013 Budget
Prime Minister, Donald Tusk remains hopeful on fulfilling the 2013 budget criteria, despite of a disadvantageous macro economical outlook.
March 18, 2013
Slovakia: Fico’s Plans For The Future
In a speech at the congress of the Czech senior opposition Social Democrats (CSSD) on Saturday, Prime Minister of Slovakia, Robert Fico explained his future plans.
March 18, 2013
Hungary: Dissatisfaction Towards Government Grows
Right-wing leader Viktor Orban has been in parliament for almost three years. But the promised reforms and changes to improve the economic situation came to nothing. Protests are arising.
March 18, 2013
Austria: Investigation Against VBAG Board Members
The Austrian Justice is currently investigating a case of the Austrian Volksbanken AG (VBAG) where three former board members are accused of having forged balance sheets. Board director CEO Michael Mendel is not among the suspects.
March 18, 2013
Cyprus: Parliament Votes Tomorrow For Rescue Package
The Cyprian parliament is unlikely to vote in favor for the rescue package which forces bank clients to contribute with their private money.
March 18, 2013
Hungary: New Interest Rate Cuts Ahead
Since the beginning of March, Hungary´s National Bank MNB has a new governor. The government wants MNB to lower the base rate further.
March 16, 2013
CSA: Korean Air Gets In
The South Korean airline will take over the publicly held stake in the loss-making Czech carrier.
March 16, 2013
Spindelegger Criticizes Orban Sharply
Austria´s Vice Chancellor and Foreign Minister Michael Spindelegger wants Hungary to “return to the European legal basis”.
March 16, 2013
Austria Pays Almost € 300m in Greek Aid
Eurosystem gives away profits from support operations of Greek government bonds. € 281m comes from Austria.
March 16, 2013
Historical Moment for Serbia And Kosovo
Both governments have come to an agreement, similar to the Treaty on the Basis of Relations (Basic Treaty) between the two German states.
March 16, 2013
Cyprus to Receive € 10bn in EU Aid Money
Russia being the biggest investor in Cyprus offered extension of credits. In return, austerity measures and reforms are demanded.
March 16, 2013
Future of the EU Requires Solidarity And Integration
The EU has declared the year 2013 to be the “year of citizens”. The citizens of the EU should become aware of their European identity and their rights that come along with it.
March 15, 2013
Romanian Labor Costs Increased Dramatically
The EU average increase in labor costs in the 4th quarter in 2012 increased by 1.3 % throughout the EU. Front runner turns out to be Romania.
March 15, 2013
Austria: Mitterlehner Still Optimistic For Automotive Industry
The massive decline of 23 % in the motor vehicle trade in the first ten days of March 2013 does apparently not concern Austria’s economy minister Reinhold Mitterlehner.
March 15, 2013
Poland Sharpens Austerity Measures
In order to fulfill the Maastricht Criteria sustainably, Poland wants to reduce the budget deficit to 1.0% of GDP in 2015.
March 15, 2013
Hungary: Orban Rejects Criticisms
After making amendments to the Hungarian constitution, Prime Minister Viktor Orban and his leading Fidezs party have to face harsh criticisms. EU Justice Commissoner Viviane Reding announced to take measures.
March 15, 2013
Meeting of German-speaking Finance Ministers in Berlin
On Wednesday, 13 March 2013, German Finance Minister Dr Wolfgang Schäuble welcomed the German-speaking Finance Ministers of Europe to talks in Berlin. The talks focused on current finance and fiscal policy issues.
March 15, 2013
Russia: Former Economy Minister To Become New Governor Of Central Bank
Former economy minister Elvira Nabiullina will take over the post of the Central Bank of Russia (CBR) Governor.
March 14, 2013
Russia: Banks At Risk Of Losing Billions
According to rating agency Moody’s, Russians banking institutes are at risk of losing money to investments in Cyprus.
March 14, 2013
Hungary: Number of Emigrants to Austria Increases
More and more Hungarians emigrate to Austria due to economic and political reason.
March 14, 2013
Czech Republic: Population Grows Slightly
In 2012, the population of the Czech Republic increased by 10.7 thousand to 10 516.1 thousand persons.
March 14, 2013
Ukraine Puts More Effort in New Infrastructure
“Financing and promotion of investment projects will give a fillip for the economic development of our country.”
March 14, 2013
Austrian Banks to Stay in Hungary
In the coming years, foreign banks will face a difficult market environment in Hungary. Nevertheless, Austrian banks want to maintain their position.
March 14, 2013
Croatia: HRK 380m To Be Paid Into The State Budget
At its session today, the Croatian National Bank (CNB) Council examined the latest monetary and economic indicators as well as a report on the banking system condition in the last quarter of 2012.
March 14, 2013
Eurozone: Cut in Interest Rate Not Necessary
According to govenor of the Austrian National Bank an interest rate cut to improve the economic situation in the eurozone is not required at the moment. UKIP Leader Farage criticizes politicians for denying problems in eurozone.
March 14, 2013
Slovenia: New Coalition Stands
Slovenia´s new Prime Minister Alenka Bratusek is the head of a four-party-coalition.
March 13, 2013
Orban Wants to Strengthen Hungarian Banks
According to Hungary´s Prime Minister Viktor Orban, the high share of foreign banks is “unhealthy”.
March 13, 2013
Serbia: Key Policy Rate Kept at 11.75%
The Executive Board of the National Bank has decided in its meeting to keep the key policy rate at 11.75%.
March 13, 2013
Austria Welcomes Agreement between Croatia and Slovenia
"The last stumbling block for Croatia's accession to the EU has been removed by solving the Ljubljanska Banka issue."
March 13, 2013
Russia: Battle Between Rosneft And Gasprom Starts
The fight between Russia’s two biggest energy providers Rosneft and Gasprom has started. Rosneft tries to snatch away large deposits of raw oil and reports Gasprom to the government.
March 12, 2013
Bulgaria: Caretaker Government Announced
Three weeks after the stepping down of Bulgaria’s right-of-center government, President Rosen Plevneliev put together an interim government.
March 12, 2013
Mignon (PACE) Praises Serbia For Progresses
Today, president of the Parliamentary Assembly of the Council of Europe (PACE) Jean-Claude Mignon gave credit to Serbia’s progress in the execution of reforms and expressed faith in finding solution for the Kosvo issue.
March 12, 2013
Latvia: Increase for Minimum Wages Turned Down
Prime Minister Valdis Dombrovskis explained that a raise of minimum wages to LVL 303 (€ 428) is not realizable at the moment.
March 12, 2013
Bulgaria: Latest Protests Against Privatizing of Railway
Protesters in three cities gathered to demonstrate against the privatization of the freight division of the Bulgarian state railroads (BDZ).
March 12, 2013
Hungary: Constitutional Amendmends Signed By Vast Majority
EU Commission fears that Hungary’s state institutions will have to experience major restrictions.
March 12, 2013
Austria: Hypo Group Still Sailing in Stormy Waters
Hypo Group wants a fast selling until the end of 2013. Vending of Italian and CESEE subsidiaries could take longer as the economic situation is not appealing at the moment.
March 12, 2013
Austria: Nationalizing Hypo Group Prevented BayernLB from Losses
EU Competition Commission pushes the Austrian government to shut down the loss-making Hypo Group.
March 11, 2013
Hungary: Former President Urges Successor to Veto
Former President Lazlo Solyom warns his follower, President Janos Ader,in a dramatic speech of the end of checks and balances in Hungary’s political system.
March 11, 2013
Slovenia/Croatia: Paving the Way for Brussels
Today, both heads of government, Janez Jansa and Zoran Milanovic, signed the “Memorandum of Understanding” in Mokrice which will permit Croatia to become a full EU member.
March 11, 2013
Bulgaria: EVN Under Surveillance
While the Austrian power supplier EVN is currently kept under surveillance of the Bulgarian judiciary and government, protests by the citizens all over the country continue.
March 11, 2013
Hungary: Demonstrations in Budapest
Protests against the planned constitutional amendmends took place on Saturday, March 9. US and EU express their concern about the political developments.
March 9, 2013
Bulgaria: „Eagle’s Bridge“-Protests Start Today
Other meetings of protest representatives are taking place in Gabrov today to elect a committee for further negotiations with government.
March 9, 2013
Austria: Opposition Puts Forward Constitutional Challenge
Fiscal Pact undermines sovereignty of parliament and forces the country to severe austerity measures.
March 9, 2013
Montenegro: Knocking on Brussels’ Door
In an interview with the Austrian newspaper Presse, state secretary for European integratition and Montenegro’s chief negotiator Aleksandar Pejovic informs when his country is ready to join the EU.
March 9, 2013
Hungary: Austrian Farmers on the Verge of Dispossession
A new regulation should help Hungarians prevent from "greedy speculators".
March 8, 2013
Serbia: Number of Dwellings Rose Substantially
Today, the Serbian Statistical Office has published the Census of Population, Households and Dwellings.
March 8, 2013
Belgrade Initiative to Support Serbia´s Financial System
The first meeting of the Belgrade Initiative, a host country cross-border banking forum, was held in Belgrade today.
March 8, 2013
Macedonia: Protests Against Government
Young Albanians protest against an „Anti-Albanian“ policy.
March 8, 2013
Czech Republic: Erste Group Cutting More Jobs
Because Erste Group has to save CZK 1bn (€ 39m) this year, economy measures need to be taken.
March 8, 2013
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