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Ukraine: Tough Market for Foreign Banks

The coming two years will be challenging for foreign banks operating in Ukraine.

February 11, 2014

Vienna Insurance Group Shines in the Czech Republic

VIG continues to expand its market leadership in its largest CEE market.

February 11, 2014

Austria: Hypo Group Becomes Fiasco for Taxpayers

The most expensive solution for the winding up of troubled Hypo Group becomes imminent.

February 11, 2014

Austria: Bank Participation for Hypo Off

A participation model with Austrian banks can be ruled out for ailing Hypo Group. Instead, a more expensive version will be applied.

February 10, 2014

CEE: Still Growth Market in Real Estate Sector

The region is still a growth market in the real estate sector even after the crisis. However, the legal situation in some CEE countries can be a pitfall to real estate companies.

February 10, 2014

Ukraine: RBI Examines Offers

Raiffeisen Bank International (RBI) has received a total of twelve offers for its Ukranian affiliate.

February 10, 2014

Serbia: Inflation Requires New IMF Agreement

In the light of a devaluation of the Dinar Serbia needs a new agreement with the IMF to improve funding and accelerate the realization of reforms.

February 10, 2014

Spindelegger Insists on Austrian Bank Secret

On Friday the Finance Ministry confirmed to the Austrian Press Agency (APA) that there is “momentum in the field” in regard to disclosure of information about bank accounts of foreigners.

February 10, 2014

Hypo Group Alpe Adria: Sevelda Rejects „Joint Bad Bank“

Karl Sevelda, CEO of Vienna-listed RBI (Raiffeisen Bank International), does not want to become shareholder of the common bad bank for the nationalized lender Hypo Group Alpe Adria.

February 9, 2014

Why Austria´s Finance Minister Has to Go

Austrian Minister of Finance Michael Spindelegger is everything but firmly in his saddle. Behind the scenes, the fight for Spindelegger´s succession has started with full strength.

February 8, 2014

“We Want to Return to the Mainstream”

The new Czech Prime Minister Bohuslav Sobotka announced that the country will become a member of the EU Fiscal Pact.

February 7, 2014

Czech Republic. Euro Adoption Causes Dispute Within the Cabinet

Czech Minister of Foreign Affairs Lubomir Zaoralek (CSSD – Czech Social Democrats) wants to adopt the euro as soon as possible. Minister of Finance Andrej Babis rejects that idea.

February 7, 2014

Hungary: Why Orban Faces Another Victory

At the beginning of April, Hungary will hold elections. Despite a high level of dissatisfaction and political frustration, there will be no government change.

February 7, 2014 · Updated: February 7, 2014; 17:59

Hyp Group Alpe Adria: “No Unnecessary Bankruptcy”

Klaus Liebscher, president of Hypo Group´s supervisory board, points out that Hypo Group´s bankruptcy would involve enormous risks. The Austrian government remains conspicuously calm.

February 7, 2014

Romania: Chitiou Has Lost Support from PNL

As reported by Vindobona, Romania´s Minister of Finance has decided to leave the government. According to rumors, the resignation was forced by senior PNL members.

February 7, 2014

Romania: Minister of Finance Quits

Minister of Finance Daniel Chitoiu is said to leave the Romanian cabinet.

February 6, 2014

Roubini: Hungary in Difficulties

A number of emerging countries are facing enormous problems, according to economist Nouriel Roubini. Also countries in Central, Eastern and Southeastern Europe are affected.

February 5, 2014

Austrian Minister of Finance Under Fire

Christoph Leitl, President of the Austrian Chamber of Economics, criticizes the Austrian government sharply. Minister of Finance Michael Spindelegger is put on the defensive.

February 5, 2014

Czech Republic: Rusnok to Become CNB Board Member

Czech President Milos Zeman will appoint former Czech prime minister Jiri Rusnok as new board member of the Czech National Bank.

February 4, 2014

„Hungary and Austria Must not Become Enemies“

Ewald Nowotny, governor of the Austrian National Bank (OeNB) wants a solution between the Hungarian government and the Austrian banking sector.

February 4, 2014

Czech Republic: Euro Not Before 2020

Czech new Minister of Finance Andrej Babis thinks that the euro will not be introduced in the next few years.

February 3, 2014

„We Must Watch CESEE Very Carefully“

In an interview with the Austrian daily „Standard“, board member of Österreichische Kontrollbank AG Angelika Sommer-Hemetsberger said that the economic crisis in CESEE is not over yet.

February 3, 2014

Tusk: No Monetary Interventions Necessary

In the past few months, the Polish zloty fell significantly. However, Poland´s Prime Minister Donald Tusk thinks that the zloty does not need support.

February 3, 2014

Vienna Insurance Group Enters New Market

Acquisition of the Moldovan insurer Donaris.

January 31, 2014

Hungary: Stable Economy, Weak Currency

According to Prime Minister Orban the volatility of the Hungarian Forint is based on global factors.

January 31, 2014

Austrian Government Skirting around Decision over Hypo

A paper reporting about the four options for downsizing Hypo Group has not been published by the government yet.

January 31, 2014

Poland: Economic Growth in 2013 above Expectations

GDP growth in Poland came at 1.6 percent year-on-year in 2013 which is 0.1 percent above expectations.

January 31, 2014

Bawag to Be Sold?

According to rumours, the fifth largest Austrian lender may be sold.

January 31, 2014

Austrian Industrial Sector only Sees Weak Recovery

The Federation of Austrian Industries (IV) warns about a fragile economic recovery.

January 30, 2014

Poland: NBP Sees No Reason for Weakening Zloty

According to Eugeniusz Gatnar, board manager of the National Bank of Poland (NBP), there was no fundamental reason for monetary intervention.

January 30, 2014

VIG to Do Up Romanian Division

Difficulties in Romania and Italy for Vienna Insurance Group (VIG) lead to a massive decline in profits.

January 29, 2014

WKO Rejects Further Financial Burdens for Banks

According to the Austrian Chamber of Commerce (WKO), the financial burdens of banking institutes in Austria are significantly higher than those of their competitors in other EU member states.

January 29, 2014

Euro-Introduction: Cutting Debts Precondition for Poland

Finance Minister Mateusz Szczurek stressed that cutting debts was a key condition for Poland before it could be admitted to the single currency union.

January 29, 2014

Slovenia: Dispute with Croatia Just Begun

Slovenian Foreign Minister Erjavec announced to continue dispute against Croatia.

January 29, 2014

Austria: Government Makes € 1bn for Hypo Group Available in Budget

Nationalized problem bank Hypo Group Alpe Adria has listed a need for state subsidies in the amount between € 400m and € 900m in this year’s downsizing plan.

January 29, 2014

Austria: IHS Against Bank Levy

Christian Keuschnigg, director of the Austrian economic research institute IHS stresses that the bank resolution funds would replace the bank levy.

January 28, 2014

Spindelegger: “No Exploitation of Resolution Funds”

Among the finance ministers in Europe, there are still different perceptions regarding the bank resolution fund.

January 28, 2014

Capital Increase at RBI Hungary

RBI (Raiffeisen Bank International) will make a capital injection of € 55m in its Hungarian affiliate

January 28, 2014

Austria: Opposition Presses for Information

The Austrian Greens demand information in regard to problem bank Hypo Group Alpe Adria.

January 28, 2014

New Czech Government in Dispute

The new Czech government is in dispute even before it was officially sworn in.

January 28, 2014

Poland: New Indices at WSE

GPW, the operator of the Warsaw Stock Exchange (WSE) will introduce two new indices.

January 28, 2014

Austria: Bank Particpation Still Uncertain

It is still unclear whether the Austrian banks will participate in a downsizing construction of Hypo Group. First results will be presented in February

January 28, 2014

OECD Shows Great Concern over Hungarian Economy

According to the OECD, the country’s recovery from recession will be weak in 2014 and 2015

January 27, 2014

Nowotny: “We Want Clarity“

The governor of the Austrian National Bank presses the government for swift actions to find an acceptable downsizing solution for Hypo Group. Further steps will only be made in February.

January 27, 2014

Restrained Optimism in Polish Financial Market

According to Finance Minister Szczurek, the Polish Financial Market will have to face another challenging year.

January 27, 2014

Bank Austria: Massive Staff Reduction Ahead

Until 2025, Bank Austria will reduce its workforce by 4,000 employees in Austria, Doris Tomanek told the Austrian daily „Presse“. Since 2005, Doris Tomanek works as head of Human Resources CEE.

January 25, 2014

Hypo Group Denies New Capital Shortfall

The nationalized Austrian lender Hypo Group Alpe Adria is said to require fresh founds in the amount of € 500m. The bank´s management claims the opposite.

January 25, 2014

Romania´s President Opposes the IMF

Traian Basescu is strictly against imposing an additional tax on fuel. Whether Romania will achieve the budget target is highly uncertain.

January 24, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Czech Republic: New Government Appointed in Late January

Zeman expected to appoint even “problematic” candidates.

January 24, 2014