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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: Economy Minister Rejects New Corporate Taxes
According to newly-appointed Slovenian Minister of Economy, Metod Dragonja, the main driver for economic growth is trade and exports. Instead of introducing new corporate taxes he calls for a fund for domestic enterprises.
February 26, 2014
Serbia to Start Talks with IMF
Officials of the International Monetary Fund (IMF) have started negotiations with Serbia on Wednesday.
February 26, 2014
Hypo Group Insolvency to Cost € 10bn at Least
Taxpayers in Austria would be burdened with at least € 10bn if Hypo Group was sent into insolvency.
February 26, 2014
Poland: Fastest Growing Economy in EU
According to the EU Commission, Poland will see the fastest growth in 2014 among the largest former communist countries of the European Union.
February 26, 2014
Hungary: Customers Fleeced by Banks
For the first time in three years Hungarian commercial banks have returned to profitability. However, extra cost, caused by political circumstances, was passed on to clients.
February 26, 2014
Austria: National Assembley Rejects Investigation Committee
The parliamentary investigation committee for Hypo Group, demanded by the opposition parties, was rejected in a roll-call vote in the National Assembley.
February 26, 2014
Romanian Government Falls Apart
After the ongoing dispute about administrative posts Romania is left without a government. Moreover, the opposition calls for Prime Minister Viktor Ponta’s resignation.
February 26, 2014
Leaders from Western Balkans Meeting at EBRD
Prime Ministers from the Western Balkans are gathering to discuss economic cooperations.
February 25, 2014
Austria: Hypo Group Council to Strain Budget Even More
The Finance Ministry will appoint an international consulting team for the downsizing of nationalized problem bank Hypo Group Alpe Adria. However, costs are increasing dramatically by this step.
February 25, 2014
CNB Not to Stop Monetary Interventions Just Yet
Exchange rates in the Czech Republic will not go back to the state before monetary interventions were carried out by CNB.
February 25, 2014
Austria: “Council of the Wise“ for Hypo Group
Instead of a parliamentary investigation committee the coalition expressed its wish to appoint a “Council of the Wise” for the the assessment of the ailing bank’s nationalization.
February 25, 2014
Ukraine: Austrian Banks Reopened Branches
After the political disaster in the Ukraine all bank shops in the country’s capital Kyiv have opened again on Monday.
February 25, 2014
Austrian Bank Secrecy to be Abolished by 2016
EU Commissioner Algirdas Semeta recently stated that bank secrecy in Austria will expire since by then the automatic exchange of information will be implemented as a standard.
February 24, 2014
Slovenia: SMEs Protest Against Real Estate Tax
Tax bills would rise by many times for small business owners.
February 24, 2014
Hypo Group: Nowotny Calls for Fast Proceeding
Newly designated head of Hypo Group’s task force, Governor of the Austrian National Bank (OeNB) Ewald Nowotny, calls upon the government to fastly proceed with the downsizing of the ailing bank.
February 24, 2014
Austria: Inflation Drops Again
Inflation in Austria dropped to 1.5 percent in January due to the winter sales.
February 24, 2014
Austria: Tax Increases to be Resolved
The Austrian National Assembley will resolve tax increases.
February 24, 2014
Warsaw Stock Exchange Registers Profits
The operator of Warsaw Stock Exchange (WSE) GPW saw an increase in profits in the business year 2013.
February 24, 2014
Austria: Spindelegger under Attack
Finance Minister Spindelegger is under attack by former head of Hypo Group’s task force, Liebscher.
February 24, 2014
Slovenia: NLB Reports Losses in Business Year 2013
The biggest lender in Slovenia has amounted considerable losses because of having been forced to create loan loss provisions.
February 22, 2014
Hypo Group: Nowotny to Replace Liebscher
After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.
February 22, 2014
Serbia: Full EU Member by 2020?
Aleksandar Vucic, Deputy Prime Minister of Serbia, said on Thursday evening that the country had full political stability and announced that the country’s aim is to become an EU member in 2020.
February 22, 2014
Hypo Group: 35 Percent Say FPÖ Has Main Share of Blame
According to a survey conducted by Austrian news magazin “Profil”, 35 percent consider the Austrian Freedom Party (FPÖ) to bear the main share of the blame in regard to the financial disaster of Hypo Group.
February 22, 2014
Felderer: Insolvency More Expensive Than Bad Bank
According to Felderer, president of the fiscal council, the option of insolvency for Hypo Group Alpe Adria is more expensive than the establishing of a national bad bank
February 22, 2014
Austria: Investment Banker Part of Hypo’s Expert Group
A former investment banker is supposed to support Austrian government in the Hypo Group issue.
February 21, 2014
Austria: Wifo Projects Gloomy Economic Outlook
A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.
February 21, 2014
Austria: Head of Hypo Group’s Task Force to Resign
Klaus Liebscher, head of Hypo Group’s task force, steps down.
February 21, 2014
Government Examines Haircut of Hypo Group’s Investors
Ignoring the warnings of Hypo Group’s task force, Finance Minister Michael Spindelegger now wants investors in Hypo Group to participate in the restructuring of the ailing bank.
February 21, 2014
CEE Financial Markets under Pressure as Riots Continue in Ukraine
CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.
February 21, 2014
“Polish Economy at Crossroads“
In an interview with Austrian daily “WirtschaftsBlatt“, Ryszard Petru, chairman of the Society of Policy Economists, sees high chances for the Polish economy; however, only if the country knows how to support innovation.
February 21, 2014
RBI Closes All Affiliates in Kyiv
Because of the most recent violent outbreaks in Kyiv the Ukrainian affiliate of Raiffeisen Bank International (RBI) has closed its affiliates in the country’s capital
February 21, 2014
Serbia: Structural Reforms to Boost FDI
Recent projections of the National Bank of Serbia (NBS) forecast foreign direct investments (FDI) to increase to € 1bn this year up from € 750m.
February 21, 2014
Fitch Keeps Rating for Austria at High Level
According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.
February 21, 2014
Spindelegger: Taxpayers Should Not Carry Whole Load
Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.
February 20, 2014
Austria: Rating Endangered
US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.
February 20, 2014
Austrian Government Wants International Group of Experts
More and more voices for a parliamentary investigation committee for ailing bank Hypo Group Alpe Adria are being raised even within the SPÖ and the ÖVP. However, the government has other plans.
February 20, 2014
Bulgarians Pessimistic about Own Future
More than 90 percent of Bulgarian citizens deem the country to be in an economically bad situation.
February 20, 2014
Romania: President Fires Financial Supervision Authority
President Basescu fires the entire staff of the Romanian Financial Supervision Authority (ASF).
February 20, 2014
Serbian Governor: Banking Sector Stable
According to Tabakovic, governor of NBS, the Serbian banking sector was solvent and well-capitalized.
February 20, 2014
Liebscher: Government Is to Blame
Head of Hypo Group’s Task Force Klaus Liebscher rejects being turned into the scapegoat of delaying important decisions about the downsizing of the problem bank. Instead, he points his finger to the Austrian government.
February 20, 2014
EU Commission to Examine Slovenian Bank Restructuring Plan
Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.
February 20, 2014
Hypo Disaster: Who Are the Beneficiaries?
International investment companies, funds and domestic banks are the major recipients of the billions of Euros in the Hypo Group disaster.
February 19, 2014
Austria Most Popular Country among Hungarians
93 percent of Hungarians feel compassion towards Austria.
February 19, 2014
Low Expectations in Nuclear Talks with Iran in Vienna
Optimism among officials about successful talks to end Iran’s nuclear program is restrained.
February 19, 2014
Zeman: Entry in Eurozone Delayed
In a speech to the Lower House ahead of the vote in confidence for the new government Czech President Milos Zeman expressed his dissatisfaction over the latest monetary intervention by the Czech National Bank (CNB).
February 19, 2014
Poland Ranks High in FDI Attractivity
Polish cities are still very attractive for FDI, according to fDI Intelligence.
February 19, 2014
Picker: Hypo to Cost Taxpayers “Only” up to € 4bn
According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.
February 19, 2014
Czech Republic: New Government Passed Vote of Confidence
The new Czech government under Prime Minister Bohuslav Sobotka has passed the vote of confidence in parliament yesterday.
February 19, 2014
Austria: Moody’s Downgrades Four Bonds
Moody’s downgraded four bonds of Austrian banks on Tuesday. The outlook is negative.
February 19, 2014
Hypo-Disaster: Government Playing Hide and Seek
After the emergency sitting in the National Assembley, which was demanded by the opposition parties and took place yesterday, the Austrian government refused to answer questions to the press and the public.
February 18, 2014
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