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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
Slovenia: Early Elections Announced
Contrary to the expectations Prime Minister Alenka Bratusek will remain in office after her defeat in the power struggle with party member of Positive Slovenia (PS) Zoran Jankovic.
April 29, 2014
Spindelegger: “Arsonists Are to Blame Not Fire Brigade”
The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.
April 29, 2014
Polish Banking Sector: “Too Early for Recovery”
The Polish banking sector has to be patient for economic recovery to show on their results.
April 29, 2014
Future of Slovenian Government Still Uncertain
Early elections expected to be held in the fall.
April 29, 2014
Austrian Banking Sector Making Losses
For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.
April 29, 2014
Hypo Group: Huge Burden for Austrian Budget
The downsizing of problem bank Hypo Group Alpe Adria is a huge burden for this year’s budget.
April 29, 2014
Slovenia: ”Everything Will Stand Still”
Due to the current political crisis the fear about devastating impacts on the Slovenian economy is high.
April 28, 2014
Austria: Is Spindelegger Suitable as Finance Minister?
On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014
Serbia: New Government Taking Drastic Measures
New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.
April 28, 2014
Slovenian Government to Collapse
After the Prime Minister Alenka Bratusek has lost the crucial vote against Zoran Jankovic, the Slovenian coalition is close to break apart. The ailing country faces new elections.
April 26, 2014
Budget Deficit: Austria Threatened with Penalty
Due to the capital injections into the distressed lender Hypo Group, Austria´s 2013 budget deficit will exceed the 3.0% threshold. According to Finance Minister Spindelegger, Austria might face an excessive deficit procedure.
April 25, 2014
Slovenian Coalition in Danger
Prime Minister Alenka Bratusek may lose her job. The governing Slovenian party PS is preparing for a crucial vote.
April 25, 2014
Austria: Bank Levy Begins to Wobble
Austria´s Minister of Economics Reinhold Mitterlehner proposed to reduce the bank levy. The coalition partner, the social democrats, is surprisingly open to talks.
April 25, 2014
„Brussels Must Reconsider Enlargement Policy“
Austrian Minister of Foreign Affairs Sebastian Kurz criticized the EU´s approach towards Ukraine. However, the EU has to develop further.
April 25, 2014
Croatia Faces Radical Fisal Measures
The fiscal situation of the Balkan country and youngest EU member state is disastrous. The Croat government announced to introduce new taxes.
April 25, 2014
Poland Fears War in Ukraine
According to Poland´s Prime Minister Donald Tusk, Poland should prepare for the worst case in Ukraine.
April 25, 2014
Austrian Public Debt Almost at 80% of GDP
The Austrian public debt burden will reach a new all-time high at the end of the current year. The challenging fiscal situation is partly attributable to the capital injections into Hypo Group Alpe Adria.
April 24, 2014
Do Taxes Justify a Relocation of Business?
Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.
April 24, 2014
Austria: Difficult Market Situation for Selling Bawag
The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.
April 24, 2014
Poland: BNP Paribas Bank Polska Hopes for Higher Profits
Because of the merger with BGZ Bank BNP Paribas Bank Polska, the Polish branch of the French financial giant, expects a growth of return on equity (ROE) in the double-digit figures.
April 24, 2014
Eder: Policy-Makers Have to Make Decisions
Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.
April 24, 2014
Vienna Real Estate Market Hopelessly Overstrained?
Real estate trustees in Vienna demand a limit to state-subsidized apartments and call for “unrestricted” rents.
April 23, 2014
Slovenia: List of Debtors of NLB Published
The Slovenian bad bank BAMC (Bank Asset Management Company) has published the list of debtors of the country’s two largest banks, which are responsible for the disaster of the state-controlled banks.
April 23, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Serbia: “Huge Challenges Ahead”
President Tomislav Nikolic appointed Aleksandar Vucic to form a new Serbian government.
April 23, 2014
Austria: Calls for Reduction of Bureaucracy Become Louder
Bureaucratic hurdles burden the Austrian enterprises the most apart from taxes and other levies.
April 23, 2014
Austrians Cautiously Observant
Despite economic recovery the Austrian citizens are still cautiously observant.
April 22, 2014
Serbia: Key Rate Kept Unchanged.
The NBS (National Bank of Serbia) decided to keep the policy rate unchanged as there is no threat of inflation.
April 22, 2014
Austria: Hypo Commission Costs Less than Anticipated
Irmgard Griss, head of the investigation commission appointed by the Finance Ministry with regard to Hypo Group Alpe Adria’s nationalization, announced wanting to leave the decision about the costs with the government.
April 22, 2014
Business in Ukraine Becomes More Riskful
Insurance companies warn export companies that wanting to arrange for insurance of defaults in payment obligations or political unrest right now is coming too late.
April 22, 2014
Poland: VAT Likely to be Reduced
As announced by Polish Finance Minister Mateusz Szczurek, the government plans on cutting the VAT rate to 22 percent in 2017.
April 22, 2014
Serbia: EU Negotiations Important for Reforms
According to Tanja Miscevic, chief negotiator in Serbia’s EU accession talks, the opening of the Chapters 23 and 24 are crucial for the reform process in the Western Balkan country.
April 22, 2014
Poland: Economic Upswing Endangered by Conflict in Ukraine
In general, Poland´s economic growth accelerates. However, the recent developments in Poland´s neighbor country are a substantial risk factor.
April 18, 2014
Eder: Austrian Industrial Location Not Attractive Anymore
Austria may lose one of its most important industrial flagships. Wolgang Eder, CEO of the Vienna-listed steel manufacturer voestalpine threatens to leave Austria.
April 18, 2014
Discrepancies on Austrian Real Estate Market
Because of the high rents the city of Vienna intends to do away with location premiums. Listed real estate company Conwert announced raising its rents by May 1.
April 18, 2014
Serbia: PM Nominated Next Week
The Serbian President will nominate the new Prime Minister on Tuesday, April 22.
April 18, 2014
Hypo Group: Time Pressure Grows Dramatically
Future bank aids for the nationalized Austrian lender are limited. Haircuts for creditors and bondholders are not unlikely.
April 17, 2014
Serbia: New Government Stands
Despite the absolute majority of his party SNS, Vucic could create a strategic alliance with the social democrats.
April 17, 2014
Republic of Austria Liable for Domestic Banks in Ukraine and Russia
The Austrian Clearing Bank (OeKB) has assumed liabilities in the amount of € 4.0n in Russia and Ukraine. Besides the political risks, banks operating in Russia have to fear economic risks too.
April 17, 2014
Hypo Group: Italian Branch Turns Out a Huge Problem
According to CEO Picker there were more “skeletons in the closet than expected” which led to huge losses for the ailing bank. The Italian network may have to be downsized.
April 17, 2014
Slovenia: “Worst Thing if Nobody Dare Do Anything”
Finance Minister Cufer stressed that financial institutes needed stable guidance and confidence to continue their restructuring paths.
April 17, 2014
Hypo Group: Privatization of Balkan Business Until 2015
The nationalized problem bank intends to sell its Balkan business within 2014.
April 17, 2014
Poland: Budget Deficit Soaring
Last year the budget deficit amounted to 4.3 percent of GDP.
April 17, 2014
Immofinanz: Ownership Problems in Romania
According to a court decision Immofinanz has took over not legitimately acquired property in Transsylvania.
April 17, 2014
Austria: RLB OÖ Still Threatening to Leave
According to managing director of Raiffeisenlandesbank Oberösterreich (RLB OÖ) Heinrich Schaller, the tax burden is too high in Austria. The bank is still threatening to leave for Germany if the bank levy will not be changed.
April 17, 2014
Horrible Loss at Hypo Group Alpe Adria
The former Balkan lender shocks with new figures. The Austrian nationalized bank had to write off wide parts of its risky assets. Further losses are likely as well as further capital injections.
April 16, 2014
Bank Austria Ends Business on Crimea
One day after Ukrainian affiliate of Raiffeisen Bank International (RBI), Bank Aval, has terminated business on the peninsula Crimea, UniCredit’s Bank Austria announced closing down its affiliates permanently.
April 16, 2014
Vienna Drops in “Global Cities Index”
Vienna drops three places. Regardless of the financial crisis the largest global financial centers in New York and London are still the cities with the biggest influence world-wide.
April 16, 2014
Poland: Excessive Deficit Procedure for Two More Years
The Polish government expects the EU Commission to cancel the Excessive Deficit Procedure in “less than two years” due to the measures applied so far the continuing of economic recovery.
April 16, 2014
Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
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