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Read updated news about key executives in Vienna's international community
Poland: “Time for Belt-Tightening”
Poland is required to cut the deficit in the public finance sector.
March 13, 2014
Austria: DiTech to be Taken Over by Investor
Insolvent computer equipment trader DiTech is supposed to be taken over by a German investor with Polish roots.
March 13, 2014
Austria: Bawag to Pay Back State Capital
Bawag is expected to pay back the entire public participation captial tomorrow. The assets are urgently required for recapitalizing Austrian problem bank Hypo Group.
March 13, 2014
Serbia to Continue Path towards EU
Even after the elections the new government intends to continue the path towards an EU membership.
March 13, 2014
Austria: Who Will Pay for Hypo Group?
In the dispute around who is to pay for problem bank Hypo Group Alpe Adria Chancellor Werner Faymann intends to negotiate with the Austrian provinces about a contribution to the bank levy.
March 13, 2014
Serbia: “Reforms Are Social Responsibility”
According to economic advisor and former director of the International Monetary Fund (IMF) Dominique Strauss-Kahn, Serbia’s efforts to improve state finances and push through with reforms, was visible.
March 12, 2014
Hypo Group: Insolvency Still an Option?
The group of international advisors appointed by the Austrian government seems to have come to a different conclusion than the task force of Hypo Group Alpe Adria.
March 12, 2014
Poland: Changes in Monetary Policy to Come Gradually
Polish macroeconomic conditions support a stabilization of monetary policy, according to Anna Zielinska-Glebocka, member of the Monetary Policy Council.
March 12, 2014
Bank Austria to Focus on Growth Markets in the Future
Because of the high value of write-offs Bank Austria, CEE affiliate of Italian UniCredit, had to face record losses amounting to € 1.6bn. CEO Willibald Cernko, however, does not consider the bank having made any mistakes in the past.
March 12, 2014
Hypo Group: Losses Expected to Run into Billions
Hypo Group Alpe Adria is expected to reveal losses of around € 2bn in the balance sheet for the business year 2013. Up to now, losses in the amount of € 1.3bn were expected.
March 12, 2014
Task Force: Time Is Running out for Hypo Group
The final report by the task force of problem bank Hypo Group Alpe Adria calls upon the Austrian government to make a decision about the downsizing until mid-March.
March 11, 2014
Losses Running into the Billions for Bank Austria
Bank Austria’s results for the 2013 financial year.
March 11, 2014
Faymann: Provinces to Participate in Hypo’s Downsizing Costs
Chancellor Werner Faymann announced that the provinces will have to make a financial contribution to the downsizing costs of Hypo Group. He is in favor of using the provincial share of the bank levy.
March 11, 2014
Austria: Banking Secret for Foreigners to be Abolished Forever
From 2017 on, the banking secret for non-Austrian residents will be abolished completely.
March 11, 2014
Poland: PKO BP to Sell Parts of Consumer Loan Portfolio
This year, the largest lender in Poland intends to sell a part of its consumer loan portfolio in the amount of PLN 2.3bn to 2.5bn.
March 11, 2014
Austria: Hypo Group Disaster with Exorbitant Costs
The extent of the disaster of Austrian problem bank Hypo Group Alpe Adria only starts to unfold bit by bit. A further capital injection of € 750m is needed only for the ailing bank to complete its balance sheets.
March 11, 2014
Austria: Computer Trader DiTech Declares Insolvency
Viennese hardware computer trader DiTech has slipped into insolvency.
March 10, 2014
EUSD: Austria “Ready to Agree“
Despite earlier statements to the contrary, Austria could now agree to the extension of the European Saving’s Directive (EUSD) during tomorrow’s ECOFIN meeting in Brussels.
March 10, 2014
Hypo Group: Further State Aid Necessary This Year
Finance Minister Spindelegger fears that nationalized problem bank Hypo Group Alpe Adria will require further state aids for its downsizing still within this year.
March 10, 2014
Polish Currency Still Affected by Ukrainian Crisis
The Polish Zloty continues to be unstable in the light of the political crisis in Crimea.
March 10, 2014
Austrian Bank Secret Remains Until 2017
Austrian Finance Minister Spindelegger will present proposals for amendments of the EUSD tomorrow.
March 10, 2014
Austria: Painful Austerity Measures Ahead
The Austrian public debt level grows massively. The disaster of the nationalized Balkan lender Hypo Group Alpe Adria is not the only reason for the unfavorable situation.
March 10, 2014
Austria: Spindelegger Still Does Not Exclude Hypo’s Bankruptcy
In an interview with daily “Österreich” Finance Minister Michael Spindelegger announced his intention of very carefull examining the task force’s final report about ailing bank Hypo Group.
March 8, 2014
Austria: State Aids for Banks Almost Exhausted
The financial framework for the banking aid for Hypo Group Alpe Adria is almost exhausted. So far the federal state of Austria has spent up to € 6.2bn.
March 8, 2014
Austria: Hypo Group’s Final Report Eagerly Awaited
The eagerly awaited final report of Hypo Group’s task force is supposed to be presented to the government this weekend.
March 8, 2014
Ukrainian Crisis: Czech Republic Against Sanctions
Instead of economic sanctions against Russia, diplomatic talks should de-escalate the tense situation. President Zeman wants to create a Ukrainian Federation.
March 8, 2014
Austria: Opposition Still Hopes for Government to Come Around
NEOS offer the government the chair for the parliamentary investigation committee with regard to the nationalization of ailing Hypo Group Alpe Adria and its former parent company BayernLB.
March 7, 2014
Slovenia: Government Envisages Reform Measures
After the EU Commission delivered a warning to Slovenia over the macroeconomic imbalances Prime Minister Alenka Bratusek announced yesterday she had expected such a report.
March 7, 2014
Austria: Banking Supervision Reveals Deficiencies
An intern test report of the Austrian National Bank (OeNB) and the Financial Market Authority (FMA) reveals insufficiencies in the documentation of the banking supervision.
March 7, 2014
Slovenia: Commissioner Calls for Reforms and Further Privatizations
EU Commissioner for Economic and Monetary Affairs Olli Rehn said that Slovenia had to continue to push forward with further privatizations and economic reforms.
March 6, 2014
Romania: New Government Formed
Romanian President Traian Basescu approved the new minister of the new coalition government just in time.
March 6, 2014
Austria: Opposition against “Council of Whitewashing“
The Austrian opposition, the Green Party foremost, is putting more pressure on the government to create a parliamentary investigation committee for problem bank Hypo Group Alpe Adria.
March 6, 2014
Poland Reconsiders Joining Eurozone
The current political crisis in Ukraine is also causing turmoil at the Polish financial markets letting the national currency drop significantly against the Euro.
March 5, 2014
Austria: Calls for Investigation Committee Get Louder
Calls for establishing a parliamentary investigation committee for Hypo Group Alpe Adria, as demanded by the Austrian opposition, are becoming louder.
March 5, 2014
Polish Financial Market Proves Strong
The financial market in Poland is resistant towards negative impacts resulting from the current political crisis in neighbor country Ukraine.
March 5, 2014
Banks Striving to Leave Ukraine
While Austrian insurance companies intend to stay on the Ukrainian market banks are facing write-offs running in the billions.
March 5, 2014
Serbia: Dacic Unsure of Future Government
Outgoing Prime Minister and leader of the Serbian Social Party (SPS) Ivica Dacic is unsure about how the new government will be formed.
March 4, 2014
Austria Losing in Innovation Ranking
The EU member countries are catching up with the US and Japan in regard to innovation. However, Austria is not among the top players.
March 4, 2014
Austria: Controversies Around “Council of the Wise“
Finance Minister Spindelegger claims the appointing of the “Council fo the Wise” for problem bank Hypo Group Alpe Adria was the idea of Chancellor Faymann.
March 4, 2014
Hypo Group: Decision about Downsizing Expected Soon
At the beginning of next week the final report for the planned downsizing of Hypo Group will be presented.
March 4, 2014
Ukraine: Poland Wants to Put Pressure on Russia
Poland´s President Bronislaw Komorowski underlined that the U.S. has given assurances on Poland´s security. Prime Minister Tusk calls for solidarity with Ukraine.
March 3, 2014
Austria: Unemployment Rate Rises Once Again
Once again the unemployment rate in Austria saw a significant rise. More than 440,000 persons were registered jobsless in February.
March 3, 2014
“Serbia Has to Become Economically and Politically Stable”
Prime Minister Dacic promised to continue to follow the path to an EU membership. Former Austrian Chancellor Gusenbauer underlines Serbia’s importance among Western Balkan states.
March 3, 2014
Hypo Group: Risk Identified Already in 2009
Three months after a report on the risk and susceptibility to fraud of Hypo Group’s leasing affiliates was published by PwC, ailing Hypo Group was nationalized.
March 3, 2014
„The World is Close to an Enormous Conflict“
Poland´s Prime Minister Donald Tusk is highly concerned about the developments in Ukraine. Tusk warned insistently of an escalation of the conflict, which might entail “unforeseeable consequences”.
March 2, 2014
„Austria Needs an Excellent Minister of Finance“
Andreas Treichl, CEO of the third-biggest lender in Central, Eastern and Southeastern Europe expressed subtle doubt as to whether Michael Spindelegger is the right person for the job.
March 2, 2014
„EU Did Not Care About Ukraine“
Herbert Stepic, former CEO of Raiffeisen Bank International, criticizes the EU fiercely.
March 1, 2014
Austria/Ukraine: Bank Accounts of Former Leading Politicians to be Frozen
Austria imposes unilateral sanctions against 18 members of the overthrown Ukrainian regime. Among the high-ranking officals are former president Viktor Yanukovych and his son Oleksander Yanukovych.
February 28, 2014
Hypo Group: Decision about Future Delayed
The decision about the future of Austrian problem bank Hypo will be delayed.
February 28, 2014