Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
„Banking Union Weakens Central Banks“
The Czech President Vaclav Klaus criticizes that a common banking supervision limits the competencies of national central banks.
October 30, 2012
Austrian Managers Lose Confidence in EU
Only a third of the Austrian managers believes that the problem in the Eurozone can be solved.
October 29, 2012
Nowotny: Greek Haircut for ECB “No Issue”
The governor of Austria´s National Bank (OeNB) Ewald Nowotny thinks that ECB would not participate in a haircut.
October 29, 2012
Poland: Calls for Interest Cut Become Louder
The Polish economic growth flattens. NBP´s council member Andrzej Rzonca wants the interest rate to be cut.
October 25, 2012
Belgrade to Sharpen Austerity Policy
Next year, Serbia reduces the budget deficit from 6.2% to 3.5% of GDP. The Serbian government expects that the economy will recover next year.
October 25, 2012
„Strengthening Relation with Russia“
Christoph Leitl, President of the Austrian Chamber of Commerce (WKO) argues that Europe must co-operate closer with Russia in order to manage the crisis.
October 25, 2012
“Poland is Safe”
Despite the economic slowdown, the Polish Minister of Finance Jacek Rostowksi says that the country is safe from the economic crisis.
October 24, 2012
IHS: „Greece Needs Haircut“
Christian Keuschnigg, head of the Austrian Institute of Advanced Studies thinks that another haircut will be inevitable.
October 24, 2012
Tax Quota: Austria Among Top Countries
Among 27 OECD countries, the Austria´s tax quota is the eight highest. For Austria, the trend goes upwards
October 24, 2012
“Austrian businesses pursuing expansion in Vietnam”
Great potential in the future-oriented energy, environmental and education sectors.
October 24, 2012
Slovenia: Foundation of Bad Bank Proves Difficult
After the approval of the Slovenian Parliament, the government faces a public vote on the creation of a bad bank and an industrial holding group.
October 24, 2012
Czech Government to Change?
Prime Minister Petr Necas is under pressure. A failed austerity package would cause a government change.
October 23, 2012
FMA: „Austria is Open to Blackmail by Banks”
Kurt Pribil, director of the Austrian Financial Market Authority, thinks that the nationalization of banks has shown that the Austrian state is still under pressure.
October 23, 2012
Spindelegger: “Mongolia is a country with huge potential“
The Austrian Minister Minister of Foreign Affairs receives his Mongolian counterpart in Vienna
October 23, 2012
Kazakh President Nazarbayev in Austria
Today, the Kazakh President Nursultan Nazarbayev was received by the Austrian President Heinz Fischer. The Austrian industry hopes for orders worth € 500m.
October 22, 2012
Austria: No Tax Reform
The Austrian Minister of Foreign Affairs and Vice Chancellor Michael Spindelegger replies to Finance Minister Maria Fekter that a tax reform is not realistic now.
October 22, 2012
Tusk: Joining Banking Union Only if it Does not Weaken Poland
The Polish Prime Minister does not exclude to enter the banking union. However, this measure must not weaken Poland´s position.
October 22, 2012
Banking Package: Austria to Lose Billions
Hannes Androsch, member of the publicly owned bank holding company Fimbag, fears that Austria´s losses will be substantial.
October 22, 2012
Austrian Finance Minister and Foreign Minister Support Banking Union
Vice-Chancellor Michael Spindelegger and Finance Minister Maria Fekter meet with EU Commissioner Michel Barnier.
October 22, 2012
Austrian Tax Quota to Increase
Austria´s Finance Minister Maria Fekter expects a higher tax intake in 2013. Next year, the tax quota will grow slightly to 43%. In order to prevent further expenses, Fekter rejects creating bad banks.
October 20, 2012
Poland Favors Banking Union, Czech Republic is Skeptical
The governor of the Polish National Bank Marek Belka calls for joining the banking union. The Czech Republic may use the right to give a veto.
October 20, 2012
Hungary Does not Exclude to Increase Bank Tax
Prime Minister Orban refers to the pressure coming from Brussels. Hungary must reduce the budget deficit below 3.0% of GDP.
October 20, 2012
Polish Government: Austerity in Order to Enter Eurozone
The Polish Minister of Foreign Affairs Radoslaw Sikorski says that Poland will fulfill the Maastricht Criteria in 2015.
October 19, 2012
Fekter Interested in Hungary´s Bank Taxation Plans
The Austrian Minister of Finance wants to analyse the taxation plans of the Hungarian government thoroughly. The bank taxes would be “highly interesting”, Fekter says.
October 19, 2012
Vienna Stock Exchange Wants Austrian Post to Become Privatized
Birgit Kuras, CEO of Vienna Stock Exchange, wants the Austrian state to reduce its 53% stake in Austrian Post.
October 19, 2012
Poland Starts Privatization Program
The Polish government wants to sell state-owned assets worth € 5bn.
October 18, 2012
RBI: We Will Not Leave Hungary
Herbert Stepic, CEO of Austrian RBI (Raiffeisen Bank International) is highly dissatisfied with Hungary´s decision not to reduce bank taxes. However, RBI will stay, he says.
October 18, 2012 · Updated: October 18, 2012; 17:08
Hungarian Tax Plans: Austrian Banks Annoyed
Because of the pressing need to reduce the budget deficit, Hungary´s government decided not to lower the bank tax. Moreover, the financial transaction tax will be doubled.
October 18, 2012
Hungary Doubles Financial Transaction Tax
The Hungarian Minister of Economics Gyorgy Matolcsy announced that the financial transaction tax will be increased to 0.2%. Moreover, the bank taxes will not be reduced.
October 17, 2012
Spindelegger in Romania: “Strategic interest in stable domestic conditions”
The Austrian Vice-Chancellor and Minister of Foreign Affairs meets Traian Basescu, President of Romania
October 17, 2012
Hungary Reaffirms Not to Enter Eurozone
After the meeting with Germany´s Chancellor Angela Merkel, Hungary´s Prime Minister Viktor Orban explained that the euro must offer a perspective again.
October 16, 2012
Austrian Budget: Experts Call for Further Reforms (Part 3)
Economists think that the budget does not contain enough reform steps. The opposition does not see any signs of progress.
October 16, 2012
Austrian Budget: Experts Call for Further Reforms (Part 2)
Austrian economic research institutes criticize the state budget and want the government to show more ambition.
October 16, 2012
Austrian Budget: Experts Call for Further Reforms (Part 1)
Today, the Austrian Finance Minister Fekter presented the 2013 Budget to Austrian National Assembly. The reactions were highly controversial.
October 16, 2012
FPÖ Files Suit Against ESM
The biggest Austrian opposition party files a legal complaint against the European Stability Mechanism (ESM) at the Austrian Constitutional Court.
October 15, 2012
Hungary Wants Foreign Land Owners to Leave
The Hungarian Prime Minister Viktor Orban wants to bring back “stolen land”.
October 15, 2012
Voestalpine: Eder Does Not Exclude to Leave Austria
Wolfgang Eder, CEO of the Austrian steel company voestalpine, underlines to stay in Austria “as long as possible”.
October 15, 2012
Austrian Audit Court Criticizes Nationalization of Kommunalkredit
According to the Austrian Audit Court, the former owner of Kommunalkredit VBAG would have survived without the nationalization.
October 15, 2012
Austria to Violate Maastricht Criteria in 2012
This year, the Austria budget deficit will not be below the 3.0% threshold. This is mainly due to the banking package.
October 15, 2012
Spindelegger: Alpine Regions Should Co-Operate
Austrian Minister of Foreign Affairs calls for closer cooperation between the Alpine states.
October 15, 2012
Klaus: “Nobel Prize for EU is a Mistake”
The Czech President Vaclav Klaus criticizes the decision of the Nobel Prize Committee. For him, the decision is a “joke”.
October 13, 2012
Orban Blames EU for Austerity Cuts
The Hungarian Prime Minister Viktor Orban explains that Hungary has no other choice but to deepen the austerity cuts.
October 13, 2012
EU Wants Austria to Reduce Bureaucracy
The Commission of the EU has presented its concept for the re-industrialization of Europe. Austria is well-positioned, but there is some potential for improvement.
October 13, 2012
Austrian Industry Reaffirms: „We need structural reforms”
The President of IV (Federation of Austrian Industries) Georg Kapsch argues that more justice cannot be achieved with new taxes.
October 13, 2012
Czech Government Attempts to Stimulate Growth
On the one hand, the Czech government deepens the austerity measures. On the other hand, growth-stimulating investments should be initiated.
October 13, 2012
Slovak Deficit to Reach 2.9% of GDP in 2013
The Slovak government approved the 2013 state budget. The deficit will be reduced step by step in the next years.
October 12, 2012
Czech National Bank Open for Interventions
At the moment, the Czech National Bank (CNB) sees no reason for weakening the exchange rate of the Czech Crown. However, CNB is ready to start interventions if necessary.
October 12, 2012
Austrian Economy Stagnates
According to Austrian National Bank (OeNB), the economic growth rate will be slightly negative. A recession is not excluded.
October 12, 2012
Austrian Foreign Ministry Wants “Better coordination for development cooperation”
"No single country can solve all the major problems of our time alone", Austrian State Secretary Reinhold Lopatka said at the "Development Dialogue" event in Parliament today.
October 12, 2012
Poland´s Budget Deficit “Will Not Be Bigger than Planned”
The Polish Minister of finance Jacek Rostowski stresses that the planned budget deficit will not be higher than PLN 35.6bn.
October 11, 2012
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