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Austrian Real Income Fell Dramatically

Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.

August 20, 2012

Does the Euro Collapse Now? (Part 2)

The nervousness among Europe´s leaders is growing. Not only Finland warns of a breakdown.

August 18, 2012

Does the Euro Collapse Now? (Part 1)

The nervousness among Europe´s leaders is growing. Not only Finland warns of a breakdown.

August 17, 2012

Kommunalkredit´s KA Finanz Needs New Guarantees

Because of its exposure in Greece, the nationalized Austrian lender needs further guarantees from the Austrian state.

August 6, 2012

IHS: Austria Grows Faster Than Eurozone

The Austrian Institute of Advanced Studies expects an average economic growth of 1.7% until 2017.

July 26, 2012

Insolvencies in CESEE on the Rise

In 2011, the number of business insolvencies rose by 25% in the CESEE region. Hungary ranks first.

July 25, 2012

Aiginger: „Feeding Banks Makes No Sense“

The director of WIFO (Austrian Institute of Economic Research) thinks that Spanish banks must be able to become insolvent.

July 24, 2012

Fekter: Greek Exit is „No Issue“

Austria´s Finance Minister Maria Fekter thinks that a Greek exit is no option for the time being. „We wait for the report of the Troika.“

July 24, 2012

Fekter Does not Want to Bundle Austrian Problem Banks

As the public debt level would rise dramatically, Austria´s Finance Minister Maria Fekter rejects the idea of a common bad bank.

July 19, 2012

Bulgaria Aims to Join Eurozone

Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.

July 16, 2012

Grexit would Cost Austria € 11.0bn

The Brussels-based think tank CEPS states that Austria would have to bear costs of € 10.9bn in case of a Greek exit out of the Eurozone.

July 13, 2012

Fischer Wants to Check ESM

Austria´s Federal President Heinz Fischer does not sign the ESM approval by the Austrian Parliament yet. „I am not under time pressure.“ he says.

July 11, 2012

Economic Report: „Reducing Dependence on Europe“

Today, the Austrian government published ist „Economic Report 2012“.

July 9, 2012

Nowotny on Greece: „We Do Not Have Unlimited Time“

Ewald Nowotny, the governor of OeNB (Austrian Central Bank) is concerned about the Greek austerity program.

July 9, 2012

Strong Increase in Unit Labor Costs

Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.

June 29, 2012

Euro-Crisis Continues

According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.

June 29, 2012

WIFO Wants Unlimited Firewall

According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.

June 28, 2012

Fiscal Pact More Expansive for Austria than for Germany

According to the latest calculations, small Eurozone member states would have to pay higher transfers than Germany.

June 26, 2012

Austrian Banks Affected by European Crisis

Bank Austria´s CEO Willibald Cernko still believes in the common currency. Last year, earnings went down by 14.6%.

June 26, 2012

Survival of the Euro Questionable

Regarding the future of the common currency, the Austrian economist Fritz Breuss is highly skeptical.

June 26, 2012

„The end of the Euro would mean Europe´s Explosion“

Ewald Nowotny, governor of the Austrian Central Bank (OeNB) reaffirms that Europe needs the Euro.

June 25, 2012

Treichl: „Europe Does Not Need the Euro“

Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.

June 25, 2012

Fekter Declines Mercy for Greece

Austria´s Finance Minister Maria Fekter is poised for amending several points oft he Greek austerity program. This is no accomodation, Fekter emphasizes. In the future, the EU should be completely centralized, Fekter says.

June 21, 2012

CESEE Banks: Small Exposure in Southern Europe

The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.

June 20, 2012

Fekter Approves Greek Election Results

The Austrian Minister of Finance Maria Fekter is happy with the „Pro-European „ statement oft he Greeks. Minor adjustments to aid packages would be possible.

June 18, 2012

Fekter Defends Euro Aids

Austria´s Finance Minister Maria Fekter underlines the „necessity of solidarity“ and stressed ist commitment to the common currency. The Austria opposition party FPÖ made a serious protest.

June 16, 2012

Gloomy Growth Prospects for Austria

Bank Austria cuts its growth prospects for Austria. Instead of a GDP growth of 2.0% in 2013, the analysts now expect economic growth to reach 1.5%.

June 16, 2012

Fitch: „AAA Endangered in Case of Greek Exit“

The U.S. rating agency warns the remaining AAA-Eurozone members of the consequences of a Greek exit.

June 13, 2012

Can Greece be Saved?

In a era where it feels as though the stability of the Euro and its included nations teeters on the brink of chaos, everyone is looking to Greece as the tipping point.

June 13, 2012 · Updated: August 19, 2013; 10:13 · Sponsored Content

Austerity: „There is No Alternative“

The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.

June 12, 2012

Monti Angry at Fekter

Italy´s Prime Minister Mario Monti is unhappy with the statement of Austria´s Finance Minister Maria Fekter on Italy. Fekter considered that Italy may need help by the EU.

June 12, 2012

Spain: „ESM would be a Better Safeguard“

Austria´s Minister of Finance Maria Fekter wants Spain to call for aid via the ESM.

June 11, 2012

„We Won´t Get Any Money Back“

The former director of the Austrian Institute of Advanced Studies (IHS) does not think that Greece is able to pay back its debt. Nevertheless, Felderer still believes in the euro.

June 9, 2012

Moody´s Warns Austria of Another Downgrade

The U.S. rating agency may downgrade European AAA-countries like Austria, Germany or France soon.

June 9, 2012

Kommunalkredit Sale: Austria Hires Morgan Stanley

The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.

June 6, 2012

Keuschnigg: „Raising ESM for Italy and Spain“

Christian Keuschnigg, director of the Austrian Institute of Advanced Studies (IHS) argues for raising ESM funds to € 1,000bn.

June 4, 2012

Treichl: „Spain Needs Help“

The CEO of theAustrian Erste Group Andreas Treichl is in doubt whether Spain may conquer the crisis without help. Regarding Greece, Europe has to pay anyway, Treichl thinks.

June 1, 2012

The Euro - A Big Error (Part 4)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 31, 2012

Nowotny: „Keeping Greece in Eurozone Has Highest Priority“

The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny thinks that ECB does not plan a new bond purchase program.

May 29, 2012

The Euro - A Big Error (Part 3)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 29, 2012

Greece and Eurobonds Divide Austria

The Greek exit and the introduction of Eurobonds are discussed heatedly. In Austria, there is no clear tendency.

May 25, 2012

Nowotny: „Austria is Safe“

The governor of Austria´s Central Bank (OeNB) Ewald Nowotny asserts that the economic stability in Austria is substantially better than in other regions of the Eurozone.

May 23, 2012

Fekter Warns of Greek Exit

Austrias Finance Minister Maria Fekter sees enormous difficulties in the case of an exit out of the Eurozone. The Financial Market Authority (FMA) supports Fekter.

May 23, 2012

The Euro – A Big Error (Part 2)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 23, 2012

“Three Problems of Europe: Divergence, Indebtedness and Weak Banks”

The new director of the Austrian IHS (Institute of Advanced Studies) Christian Keuschnigg thinks that a Greek exit would have to take place suddenly.

May 21, 2012

Rothensteiner: Return to Drachma would be „Utter Chaos“

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

May 21, 2012

The Euro – A Big Error (Part 1)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 20, 2012

Greek Exit: € 5.0bn Costs for Austria „In the Best Case“

Bank Austria´s chief economist Stefan Bruckbauer warns of exorbitant costs in case of a Greek exit out of the Eurozone. A common solution would be the better alternative.

May 19, 2012

Austrian Interest Rate Reaches a Record Low

The interest rates for German and Austrian sovereign bonds are as deep as never before. Thus, in Europe, the gap widens further.

May 18, 2012

„ECB Must Help Spain“

If real estate price in Spain fall further, Spanish banks were not able to bear that risk. A Greek exit could cost Austria up to € 10bn.

May 18, 2012