Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Hungary: 20th Consecutive Interest Rate Cut
The Hungarian central bank has cut the key interest rate by 10 basis points to 2.6 percent.
March 26, 2014
Austria: High Support for Hypo Group’s Investigation Petition
According to a decision in the petition committee, the online petition for the investigation of the nationlization of ailing Hypo Group Alpe Adria will be open for signing until the next committee meeting in June.
March 26, 2014
Poland: Economy Proves Immune to Ukrainian Crisis
According to Governor of the Polish National Bank (NBP) Marek Belka, the Polish economy has so far proved stable and almost remained unaffected by the political crisis in Ukraine.
March 26, 2014
Hungary: Orban Striving to Become PM Again
In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.
March 26, 2014
Poland: Promising Years Ahead
Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.
March 25, 2014
Real Estate in Vienna: Offer Does Not Catch up Demand
There is a growing trend towards population increase as well as small households in Vienna.
March 25, 2014
World Bank: Serbia Has Nine Month to Implement Reforms
According to Tony Verheijen, the World Bank’s Country Manager of Serbia, Serbia has nine month to implement the reforms necessary.
March 25, 2014
Spindelegger: Investigation Committee “Counterproductive“
According to the Finance Minister, an investigation committee would only worsen the negotiation position with BayernLB.
March 25, 2014
Poland: Pension Reform Not to Affect Rating
According to rating agency Fitch, Poland’s country rating will not be affected by the pension reform.
March 25, 2014
Hypo Group: Spindelegger Still Rejects Investigation Committee
Today the opposition will call for a joint request for a parliamentary investigation committee with regard to ailing bank Hypo Group.
March 25, 2014
Austria: No Changes to Land Transfer Tax
There will be no tax hikes in the near future concerning the inheritance of property within families. The draft law of the Finance Ministry also includes the exemption of business successions.
March 24, 2014
Serbia: President Announced “Pro-Serbian Government”
Tomislav Nikolic, Serbian President, announded the future government to be pro-Serbian.
March 24, 2014
Austria: Hypo Petition to be Continued
The online petition for the establishing of a parliamentary investigation committee will not be stopped by the Austrian government, consisting of SPÖ (Social Democrats) and ÖVP (Austrian People’s Party).
March 24, 2014
Slovenia Looking for New Investors
In an attempt is looking for new investors the small Eurozone member country is starting a series of roadshows in Europe starting from Monday.
March 24, 2014
Serbia Wants to Keep Balance Between Russia and EU
Serbia´s Prime Minister Ivica Dacic does not want to stab Russia in the back. At the same time, Dacic keeps an eye on Brussels.
March 24, 2014
Czech Growth to Speed Up
Due to the increase in foreign demand, the advisory company EY expects the Czech economy to revive this year.
March 24, 2014
Faymann Does Not Rule Out Economic Sanctions Against Russia
Austrian Chancellor Werner Faymann wants to avoid further conflicts with Russia and to put effort into diplomacy instead. Economic sanctions are no taboo, though.
March 24, 2014
Zeman Wants Ukraine to Cooperate with Brussels
According to Czech President Milos Zeman, Russia´s occupation of the Crimea is a “cold-bloodedly” step against the Ukraine. The crisis-ridden country should work together more closely with the EU.
March 22, 2014
Serbia to Continue Talks with IMF
Serbia's Minister of Finance Lazar Krstic announced that an International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement shortly after a new government is formed.
March 21, 2014
Austria: Petition Around Hypo Group to be Stopped
The stop of the online petition for a parliamentary investigation committee seems to be unavoidable. The opposition claims the government is trying to “choke off” democracy.
March 21, 2014
Hypo Group: € 1.43bn Required This Year
A total capital need of € 1.43bn is forecast by the ailing bank.
March 21, 2014
Slovenia: Considerably Fewer Building Permits Issued
Almost a quarter fewer building permits were issued in January in Slovenia.
March 21, 2014
Hypo Group: More than One Billion Required?
As reported by Austrian radio station Ö1, part of the Austrian Broadcasting Corporation ORF, ailing Hypo Group Alpe Adria will require € 1.1bn this year from the state.
March 21, 2014
Final Time-Out for Austrian Bank Secret
During the EU Summit the final time-out for the Austrian bank secret for foreigners was decided. Both Austria and Luxembourg agreed to give up their banking secrets.
March 21, 2014
Serbia: Talks about Forming Government to Start Soon
Discussions about forming a new government in Serbia will start at the end of this week or the beginning of next week, according to Zorana Mihajlovic, deputy leader of the Serbian Progressive Party (SNS).
March 21, 2014
Hypo Group: “Acutely Gaping Capital Hole“
In a compulsory notification published on Friday morning, Hypo Group Alpe Adria has reported about an “acutely gaping capital hole” which has to be covered by the Austrian Federation.
March 21, 2014
Austria: Still No Disclosure about Hypo’s Capital Gap
Detailed figures about how much the Austrian state will have to inject for the balance sheet total of 2013 will be published on Friday at the earliest.
March 21, 2014
Slovenia: Exuberant Public Spendings
Public finances in Slovenia have gone wild as only after two months almost half of the total deficit planned for 2014 was spent.
March 20, 2014
Fitch: Elections Command Fiscal Consolidation and Reforms
Vucic appears to acknowledge the need for reforms in Serbia.
March 20, 2014
Austria: Opposition Criticizes Nationalization
On Thursday Finance Minister Michael Spindelegger expects a binding statement by ailing bank Hypo Group Alpe Adria about how much state aid will be required. The opposition heavily criticizes the nationalization by the Austrian state in 2009.
March 20, 2014
Austria: Reform Steps Very Modest
Austria, along with Germany and Switzerland, hardly put any economic reforms into realization. This is the conclusion of the annual “reform barometer” for the three countries.
March 20, 2014
Poland: Budget Deficit 2013 Below Target
The Polish budget deficit for 2013 has reached almost 82 percent after it was amended in August.
March 20, 2014
Slovenia: Government Confirms Tax for Residential Property
The government has confirmed the changes adopted for the introduction of the real estate tax.
March 20, 2014
Sanctions Against Russia: Massive Threat for Austrian Banks
Brussels plans to impose economic sanctions on Russia. The Austrian financial sector would suffer enormously an escalating conflict with Moscow.
March 19, 2014
Hypo Group Expected to Publish Figures This Week
On Thursday the Austrian taxpayers are supposed to officially get to know the financial requirements for nationalized problem bank Hypo Group Alpe Adria.
March 19, 2014
Serbia: Economic Activity Increases Speed
Since the beginning of 2014 economic activity has started to accelerate.
March 19, 2014
Slovenia: Confusion over Real Estate Tax
The deadline for real estate owners to prepare for the new real estate tax has been extended by a month.
March 19, 2014
Wifo Warns European Council of Economic-Policy Standstill
The Austrian Institute of Economic Research sharply criticizes the current economic policy of the European Union and calls for a change of course to reach the self-defined targets.
March 19, 2014
Austria: Freedom Party Admits Complicity
The Austrian Freedom Party (FPÖ) admits that it was also to blame for the disaster around Hypo Group Alpe Adria.
March 19, 2014
Poland: Key Rates to Remain Unchanged until 2015
In an interview with Bloomberg Businessweek magazine, Marek Belka, Governor of the National Bank of Poland (NBP), announced that interest rates will remain unchanced until the end of this year.
March 18, 2014
Hungary: Jurisdiction Affects FX Loans and Banks
Hungary’s constitutional court will exert influence on FX loans.
March 18, 2014
BayernLB: “We Were Brazenly Betrayed by Austria"
CEO of BayernLB Gerd Häusler claims the German bank and former parent company of nationalized Hypo Group Alpe Adria accuses Austria of having taken the law into its own hands.
March 18, 2014
Hypo Group: Government Explains Downsizing Solution
On Tuesday the Austrian government will explain the decided downsizing solution for the ailing bank Hypo Group Alpe Adria. Carinthia only wants to pay € 300m in downsizing costs.
March 18, 2014
Hypo Group Redeems Loan
Even though the Austrian nationalized Hypo Group urgently needs state aids to get by bondholders will be compensated for their investments.
March 17, 2014
Serbian President: Vucic is New PM
Serbian President Tomislav Nikolic named Aleksandar Vucic as new Prime Minister.
March 17, 2014
Austria: Carinthia Forced to Pay for Hypo Group
Finance Minister Michael Spindelegger announced wanting to include the federal province of Carinthia to participate in the downsizing costs for ailing bank Hypo Group Alpe Adria. Austerity measures are “inevitable”.
March 17, 2014
Belka: Poland Should Not Haste into Eurozone
Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.
March 17, 2014
Recovery of Austrian Economy Continues
Austrian economy continues its recovery despite weaker upswing.
March 17, 2014
Serbia: Landslide Victory for Vucic
After Deputy Prime Minister Aleksandar Vucic’s party saw an overwhelming victory in the early parliamentary elections the new government is facing a hard road ahead.
March 17, 2014
Austria: Spindelegger Puts Pressure on BayernLB
In the dispute with BayernLB, former parent company of problem bank Hypo Group Alpe Adria, Finance Minister Michael Spindelegger calls for a tougher approach.
March 17, 2014
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