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Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Defying EU fusion reactors
According to calculations of the Green Party Federal Councillor Elisabeth Kerschbaum the project costs Austria €158m.
July 15, 2010
Stress tests - according to Cernko, Austrian Banks in the bottom third
Referring to speculation according to which Austrian banks with their relatively low equity ratio should not perform that well, Bank Austria CEO Willibald Cernko said "If one considers capital only, they will be at the top of the bottom third."
July 15, 2010
Union speaks of "death blow" for Austrian Railway
In the context of the forthcoming increase of capital of Verbund hydro electrical plants could be bought from the Austrian Railway Network ÖBB.
July 15, 2010
Stress tests could be price-sensitive information
At the political level it is fiercely debated how detailed the publication of the stress test should be. The FMA currently tests whether the stress test results are stock market relevant, compulsory publications.
July 14, 2010
Nowotny - raising the "retirement age"
Higher life expectancy, rising deficits: Austrians should therefore delay retirement, says National Bank's CEO Nowotny.
July 13, 2010
Transaction tax - OECD European solo attempt
According to Jeffrey Owens, head of the OECD's tax department, a transaction tax only makes sense if it relates to the financial centres on a global scale.
July 12, 2010
Crisis causing private bankruptcy
Unemployment and less income: more than 50,000 people last year turned to a debt counselling bodies.
July 12, 2010
Pröll on economic status quo, "thunder and lightning are over"
The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.
July 12, 2010
The high debt burden of Austria as target for speculators
In the crisis years 2008, 2009 and 2010, the public debt mountains are exploding. In the EU, the debt within three years has increased from 60 to 80 percent of GDP.
July 9, 2010
Fight against early retirement - Companies should pay
The Wifo suggests that firms should pay if their employees are sick and are sent into early retirement.
July 8, 2010
Stress tests - Erste Bank and RZB on the list
91 European banks will have to undergo stress tests of European regulators. Two Austrian institutions will be tested as well.
July 8, 2010
Higher property tax could bring a billion
A convergence of calculation basis to real market values could, according to the Wifo, generate additional income of half a billion Euros.
July 5, 2010
Commercial Court - 17 illegal clauses at Bank Austria
17 clauses at Bank Austria conflict with the new payment service law, according to the Vienna Commercial Court.
July 5, 2010
Short-time work massively reduced
At the height of the crisis in April 2009, 57 000 employees were short-time workers , there were only 8313 at the beginning of July 2010.
July 2, 2010
Nowotny strongly criticizes the Hungarian bank tax
The Austrian central bank chief Ewald Nowotny has practiced unusually sharp criticism of the Hungarian government, more specifically at the proposed Hungarian bank tax.
June 30, 2010
Energy must not be at mercy of shareholders
The only treasure of Austria must remain in own sphere of influence.
June 30, 2010
Austrian federal government - Massive fall in revenue
The federal government is missing €4b ($4.9b) in revenue, in the first four months of this year. In total a decrease of €6.1b ($7.5b) was registered.
June 29, 2010
EU - Austria granted to extend bank aid package
The European Commission extended the authorization for the Austrian bank rescue package of €100b ($123b) for half a year.
June 25, 2010
EU accuses Austria of hurdles in buying property
The European Commission refers Austria to the European Court of Justice. Reasons are fundamental barriers to the acquisition of agricultural land in Vorarlberg.
June 24, 2010
INSITO international symposium on the quality of work in Vienna
Securing and improving working conditions, health and safety at work in times of crisis will be discussed from today by international scientists and interest representatives from Vienna.
June 24, 2010
Migration barriers - Austria missing out on Human Capital
Due to existing migration barriers, Austria looses highly skilled workers who are hard to find, especially in the years of the boom in the domestic labour market.
June 23, 2010
Christoph Hinteregger new chief negotiator of metalworkers
Deputy chief negotiator is Alfred Hintringer - former chief negotiator Hermann Haslauer available as consultant.
June 17, 2010
Tumpel - No mass taxes!
Higher taxes would further boost inflation - rising prices mean less purchasing power and ultimately less growth.
June 16, 2010
Finance Minister Pröll against publication of stress tests
Finance Minister Josef Pröll has expressed his discontent at a press briefing this afternoon about the current European debate on the publication of stress tests of individual banks based on the U.S. model.
June 16, 2010
Austrian Chamber of Commerce - Fritz Aichinger is the new chairman of trade
Aichinger succeeds Erich Lemler – Deputy: Jutta Pemsel and Wolfgang Sauer
June 16, 2010
Kogler accuses Leitl of fiscal incompetence
WKÖ chief to submit reorganization plan or to remain silent.
June 14, 2010
OMV could be an accomplice in war crimes and crimes against humanity
OMV produced oil from 1997 to 2003 in sector 5A in Sudan. The current report of the European Coalition on Oil in Sudan (ECOS) provides new evidence that there is a direct link between oil production and the intensification of the conflict.
June 14, 2010
Austria has 39,077 dollar-millionaires
The number of dollar millionaires did not only rise in Austria but also increased substantially worldwide.
June 11, 2010
Pröll - Austria will introduce a bank tax in a solo attempt.
"The bank tax will be discussed together with the banks and it will be implemented, I stand for that," announced Finance Minister Pröll.
June 11, 2010
Hochhauser - Austria's business landscape is becoming more and more an female entrepreneur landscape
Special Prize of the Economic Chamber of Austria "women in leading positions" goes to Margaret Fürtbauer.
June 11, 2010
Green Party Vienna sharply criticises the Summit Bank
"Scandalous interplay of politics and banks'
June 11, 2010
Fresh money for upcoming infrastructure projects
If it was for the BZÖ party, parts of the ÖBB should by privatised by being listed.
June 10, 2010
Austrian President Dr. Heinz Fischer - banks should also make contribution to costs of the crisis
Austrian President Dr. Heinz Fischer said today at the IIF conference in Vienna "a developed social system and equitable distribution of income and wealth for the economic efficiency and political stability of a country are particularly important".
June 10, 2010
Vassilakou - 50,000 new green jobs in Vienna possible
"50,000 new green jobs are possible in Vienna," says the club chairwoman of the Greens Vienna, Maria Vassilakou, in reference to a study by Greenpeace presented today in Berlin, that the world could produce 8.5 million jobs in the renewable energy.
June 7, 2010
Schieder wants ban on short selling
The Financial Secretary sees Germany as role model.
June 4, 2010
Tumpel - draw lessons from the crisis
"The financial markets and their actors have brought the worst economic crisis since the Second World War "says Austrian Chamber of Labour President Herbert Tumpel...
June 2, 2010
Tumpel pleased with labour market revitalization
"The recovery in the labour market is a welcomed development. This shows that the economic stimuli programmes and actions of the Minister of Social Affairs are important and correct, "says AK President Herbert Tumpel.
June 1, 2010
Telekom Austria approves dividend of 75 cents
Austria's telecommunications service provider Telekom Austria decided at its regular meeting today, a dividend of 0.75 euros for 2009.
May 28, 2010
Austrian federal government is now sole owner of the Federal Reserve
The price fluctuations in international currency markets helped the Austrian National Bank (OeNB) in 2009 to a strong profit increase.
May 27, 2010
New FMA standards against money laundering
In the future, all transfers in Austria can be traced back; donations to certified organizations and payments of up to € 1000 are exempt.
May 27, 2010
Austria's energy - unilateral emission reduction not purposeful
“The European Commission’s statement on a planned unilateral act on emission reduction is rejected by the Austrian energy sector, "said Secretary General Schmidt.
May 26, 2010
Leitl - No to Bank tax charged - European financial transaction as better solution
"The economy needs a permanently stable financial system. But not at the expense of savers and Investors"
May 26, 2010
Jank - Vienna also requires No. 1 for business friendliness
Chamber of Commerce Vienna President Brigitte Jank is delighted about Vienna’s top spot in the current Mercer survey. For international managers, Vienna continues to claim the title as the city with the highest quality of life.
May 26, 2010
ÖBB (Austrian Nationalised Railway) - Bures: Save three billion €
Infrastructure Minister Doris Bures announced structural adjustments of various railway projects. As for the Brenner Base Tunnel, long-term financing is difficult to secure.
May 25, 2010
Solo attempt at transaction tax is possible says Chamber of Labour
"At purchase of every sausage roll a value-added tax is due, then why don’t financial speculators have to pay no sales tax for market transactions?
May 21, 2010
Mitterlehner - IMD-Ranking as a confirmation of Austria’s growth
Minister of Commerce Reinhold Mitterlehner welcomes the better position of Austria in IMD's ranking of Competitiveness.
May 21, 2010
Stock Exchange opposes government’s attempt policy regarding introduction of transaction tax
Austria Stock Exchange expresses vehement discontent with the Austrian government’s intention to introduce the transaction costs in a solo attempt.
May 20, 2010
Solo attempt as an infringement of regulation
It sounds uneventful, also hardly known by relevant experts however contains explosive substance in the context of the debated transaction tax.
May 20, 2010
Mitterlehner relaxed about Euro crisis
People’s Party (ÖVP) Minister Reinhold Mitterlehner has said he will "observe the Euro crisis in a relaxed manner for the next few weeks."
May 19, 2010
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