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Hypo Group: „We Are not the Only One Who Must Pay“
Austrian Minister of Finance Michael Spindelegger underlines that the Austrian taxpayers are not the only ones who must bear the losses of the nationalized lender Hypo Group Alpe Adria.
April 5, 2014
Treichl: „The U.S. Have Solved the Crisis Better“
Andreas Treichl, CEO of the Vienna-listed lender Erste Group, thinks that everything takes too long in Europe. The communication between banks and the government is insufficient, Treichl says.
April 5, 2014
Hungary: Orban Faces Re-Election
Tomorrow, Sunday, Hungary holds national elections. Despite the difficult economic frame conditions in Hungary, the centre-right government is expected to be confirmed for the next four years.
April 5, 2014
Serbia: Vucic New Prime Minister
The chief of the Serbian Progressiv Party (SNS) Aleksandar Vucic will be nominated by the Serbian President Tomislav Nikolic as the new Prime Minister.
April 4, 2014
Austria: Carinthia Reluctant to Pay for Hypo Group
The Austrian province of Carinthia rejects contributing to the downsizing costs of nationalized Hypo Group. Finance Minister Spindelegger insists on € 500m and threatens with sanctions.
April 4, 2014
Bosnian Billionaire to Acquire Hypo Group?
The Finance Ministry confirmed the announcement and is now examining the offer.
April 4, 2014
Poland: PKO BP to Help Finance Ukrainian Enterprises?
The biggest financial institute in Poland could get involved in a project financing Ukrainian businesses.
April 4, 2014
Austria: Capital Increase for Hypo Group Decided
The Austrian problem bank Hypo Group Alpe Adria will receive € 750m in fresh capital.
April 4, 2014
VBAG: No State Aids in 2014
The restructuring of VBAG Group is supposed to be completed until 2017, as announced by the banking group. From currently 48 regional bank shops in Austria nine regional banks are supposed to remain.
April 3, 2014
Hungary: Fidesz Considered Winners of Elections
The governing party Fidesz under Prime Minister Viktor Orban is expected to become the clear winner of the parliamentary elections on Sunday.
April 3, 2014
Serbian Future Government Needs to Be “Compact”
According to the deputy leader of SNS, Aleksandar Vucic “shall introduce iron discipline in the Government.”
April 3, 2014
Hungary: OTP Approaches Acquisition of MKB
MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.
April 3, 2014
Austria: Dispute about Bank Tax Culminates
The establishing of a new fund for the banking union will become a financial burden for banking institutes.
April 3, 2014
Serbia: New Government to Hold EU Accession Talks Regularly
The next government of Serbia will hold sessions with regard to the EU accesssion on a regular basis, as announced by Miscevic, chief EU negotiator of Serbia.
April 3, 2014
Austria: “Financial Crisis is Not Yet Over”
Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.
April 2, 2014
Austria: Faymann Insists on Bank Levy
Chancellor Faymann intends to keep the bank levy in spite of the planned insolvency fund, which is going to be established EU-wide.
April 1, 2014
Austria: Chancellor Calls for Reform of Investigation Committee
Chancellor Werner Faymann has today expressed his wish for a fast reform of parliamentary investigation committees.
April 1, 2014
Austria: Spindelegger Expects Significant Increase of Deficit
According to the Finance Minister, the consequences of the Hypo-disaster are “dramatic”. However, he does not see a danger of deflation.
April 1, 2014
Hypo Group: Settlement Rejected by BayernLB
The majority stockholder of BayernLB, the former parent company of Hypo Group Alpe Adria, is not willing to negotiate about a settlement with the Austrian problem bank.
April 1, 2014
Slovenia: Danger of Tax Increase
Because of the failed introduction of the property tax Finance Minister Uros Cufer suggested an inrease in VAT to compensate for the losses in revenue.
March 31, 2014
Slovakia: Kiska Won Against Fico
Prime Minister Robert Fico has received a heavy defeat. For the first time in Slovakia´s history, an independent candidate becomes President.
March 30, 2014
Slovenia: Controversial Property Tax Fails
The Slovenian Constitutional Court has rejected the controversial property tax suggested by the government. This will jeopardize this year’s budget.
March 28, 2014
Hypo Group: “The People are Really Pissed Off“
According to Werner Kogler, financial spokesman and deputy party leader of the Austrian Greens, the Hypo commission appointed by the government is an “intolerable escape attempt”.
March 28, 2014
Leitl: “Growth Must Not Mean Less Reforms”
Economic growth is now weaker than in the previous phases of upturn.
March 28, 2014
Hypo Petition Puts Pressure on Austrian Government
The support of the online petition for the establishing of an investigation committee has gained more than 105,000 supporters which puts increasing pressure on the government.
March 28, 2014
Austria: S&P Confirms Rating
US rating agency Standard & Poor’s has confirmed the Austrian rating at “AA+” with a stable outlook.
March 28, 2014
RBI to Keep Hungarian and Ukrainian Affiliates?
Raiffeisen Bank International (RBI) considers keeping its affiliates in Hungary and Ukraine.
March 27, 2014
Poland to Fulfill EU Commission’s Regulations
According to Polish Finance Minister Mateusz Szczurek, Poland will have no difficulties fullfilling the standards set by the European Commission with regard to the budget deficit.
March 27, 2014
Austria: Hypo Commission Soon Ready to Investigate
The government’s commission for the investigation of Hypo Group’s nationalization is supposed to begin its assignment in one or two weeks.
March 27, 2014
RBI: Profit Shrinks by Almost A Quarter
RBI with consolidated profit of € 557 million Austria’s most profitable bank for the fourth time.
March 27, 2014
Serbia: Program for New Government in Progress
The future government will have to implement extensive reforms. Vucic, whose party saw a landslide victory in the parliamentary elections, is working on the government’s program.
March 26, 2014
Poland: Good Starting Point for Economic Growth
Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.
March 26, 2014
BayernLB Threatens Hypo Group with Damage Claims
BayernLB, former parent company of Hypo Group Alpe Adria International, is threatening to claim damages from its former affiliate.
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
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
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
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
Poland: PKO BP Considers Expanding Worldwide
The biggest lender in Poland PKO BP is weighing up international expansion
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
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
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