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Austria's News in English
Read the latest headlines about other developments in Vienna and Austria
Austria: “Taxpayers Have to Bleed for Hypo Group“
Franz Schellhorn, head of think tank Agenda Austria, told “Handelsblatt” in an interview that having delayed the issue of Hypo Group was a fatal mistake by the Austrian government. He points out the consequences of the disaster.
March 7, 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
Hypo Group: “Worst Thing If Government Does Not Make Decision”
According to Felderer, President of the Fiscal Council, a downgrade in the country rating must not be taken “too seriously”.
February 28, 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
Hypo Group: „Austrian Government Has Negotiated Poorly“
In the cause of the nationalized Balkan lender Hypo Group Alpe Adria, the performance of the Austrian government is miserable, according to Austrian economist Christian Keuschnigg.
February 16, 2014
„We Were Cheated by BayernLB“
Hannes Androsch, head of the Hypo Group task force, thinks that the former Austrian government has made serious mistakes.
February 13, 2014
Hypo-Disaster: Harsh Criticism from Opposition
The opposition parties have expressed their unanimous criticism about the government failing to come to a joint decision with the Austrian banks and consequently forwarding all costs to the taxpayers.
February 11, 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
Wolf Theiss: „M&A in CESEE Grew Substantially“
The Austrian M&A advisor Wolf Theiss reports that M&A turnover in Central, Eastern and Southeastern Europe (CESEE) rose by 56% last year.
February 8, 2014
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
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
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
„Only A Catastrophy Will Bring a Change“
Bestselling author Marc Friedrich criticizes the IMF sharply and thinks that the Basel III framework is “ridiculous”. The U.S. monetary policy is “doomed to failure”.
January 21, 2014
Kotian: “Growth in CEE is Accelerating“
In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.
January 20, 2014
Austria Far from Reaching Fiscal Targets
Josef Moser, President of the Austrian Audit Court fears that the zero deficit cannot be achieved until 2016.
January 18, 2014
„Hungarian Economy Must be Rearranged“
István Töröcskei thinks that the Hungarian banking sector is highly interesting. In general, the financial sector must help to develop the Hungarian economy, Töröcskei argues.
January 18, 2014
KPMG: „Social Media Is the Key“
The image of the global banking industry is not satisfying at all. According to a study released by KPMG, banks have to put more effort in social media activities.
January 18, 2014
Bank Levy: Austrian Regional Banks Under High Pressure
The Austrian government will raise the bank levy significantly. Smaller banks have to perform disproportionately high taxes, Oberbank´s CEO Franz Gasselsberger says.
January 16, 2014
Property Market: Vienna More Attractive than Berlin or Munich
Compared to German metropolises, the Viennese property market has still a significant upside potential. Nevertheless, the office market in Vienna is expected to stagnate in the next few years.
January 15, 2014
Austria: „El Dorado for Borrowers“
According to Bank Austria´s management board member Dieter Hengl, Austria is an oasis for borrowers. Interest rates have reached an all-time low.
January 4, 2014
„Such Growth Rates Will not Return“
In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.
December 30, 2013
Hypo Group: „The Wrong Decisions were Made“
Johannes Ditz, former chairman of the Austrian nationalized Hypo Group Alpe Adria, thinks that the Austrian government could have avoided a massive burden for the taxpayers.
December 28, 2013
Austria: „Lending Becomes More Expensive”
In an interview with the Austrian daily “Presse”, CEO of Hypo Vorarlberg Michael Grahammer talks about the future lending conditions. The corporate sector faces a drastic increase in borrowing costs.
December 27, 2013
„CESEE No Driver Yet“
Birgit Kuras, CEO of Vienna Stock Exchange, thinks that the Vienna Stock Exchange is highly influenced by the CESEE operations of listed companies.
December 23, 2013
Leitl: Government Plans “Complete Nonsense“
According to Christoph Leitl, President of the Austrian Chamber of Commerce, the “great” suggestions planned by his working group are not realized by the government.
December 10, 2013
Austria: Oppositional FPÖ Wants Return to Shilling
The largest Austrian opposition party wants to leave the Eurozone.
December 7, 2013
Sevelda: „We Are Close to the Breaking Point“
In a guest comment published by the Austrian business magazine Format, CEO of Raiffeisen Bank International Karl Sevelda refers to the high burden for Austrian banks.
November 29, 2013
Leitl: Growth Stimulating Measures for Budget Consolidation
Leitl calls for growth stimulating measures which are the basis for the consolidation of the Austrian budget.
November 28, 2013
Poland: Szczurek Calls for Radical Tax Reform
Poland´s designated Minister of Finance Mateusz Szczurek wants the change the current Polish tax system fundamentally.
November 26, 2013
Interest Rate Cut: “Very Effective Property Tax“
Economists have judged the ECB’s cut in interest rate differently. According to Brezinschek, chief analyst at Raiffeisen International, savers that are not involved in speculative investments will not benefit from the latest key rate cut.
November 8, 2013
Austria: Compulsory Levy on Assets Simply “Out of Question“
Top bankers and economists in Austria consider the compulsory levy of ten percent on household assets “out of question” and “ludicrous”.
November 5, 2013
Analysis - Vienna Stock Exchange on a “Sustainable Upward Trend”
After five downhill years, the Vienna Stock Exchange is finally seeing something like a silver lining.
October 30, 2013 · Updated: November 5, 2013; 18:00
“Property Tax Cannot Finance Wage Tax Cut”
Bernhard Felderer, head of the Austrian public debt committee, stresses that the Austrian government must reduce the public debt level as soon as possible.
October 31, 2013
Fiscal Policy: Austria in the Danger Zone
Although Austria´s public finances are relatively stable, the structural problems are growing year after year. The apparent stability involves big dangers.
October 24, 2013
“We Need to Pull Down the Iron Curtain in Our Heads“
In an interview with Austrian daily “WirtschaftsBlatt“ Johannes Seiringer, Director of the Austrian office of the European Bank for Reconstruction and Development (EBRD) calls for incentives for enterprises to continue investing in CEE.
October 24, 2013
„Czech Republic Does Not Fully Use Its Potential“
Czech Prime Minister Jiri Rusnok thinks that the performance of the Czech economy is not dramatically bad. However, the Czech Republic must use its opportunities more effectively.
October 17, 2013
„CESEE Is Not the Devil Anymore“
Regarding the development of the CESEE equity market, Birgit Kuras, CEO of Vienna Stock Exchange (VSE) demonstrates optimism.
October 14, 2013
Federation of Austrian Industries Urges for Reforms
IV (Federation of Austrian Industries) has high hopes. The next Austrian government has to implement a number of reforms, IV´s President Georg Kapsch says.
October 12, 2013
"European bank supervision sends a strong signal to financial markets"
Austrian Federal Minister of Finance Maria Fekter welcomes favourable European Parliament decision on bank supervision.
September 28, 2013
Does Austria Need Further Privatizations?
Voestalpine´s CEO Wolfgang Eder wants to support the Vienna Stock Exchange. Without further privatizations, the stock market in Vienna could be history soon.
September 24, 2013 · Updated: September 25, 2013; 11:30
Leitl: “Grand Coalition Did Not Fulfill Expectations“
Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), favors a change in the governing parties as the grand coalition has not realized the necessary reforms.
September 24, 2013
Austria: 80 Percent Opposed to 12-Hour-Working Day
A survey of a Socialist trade union shows that 80 percent of employees are opposed of a working day of twelve hours.
September 19, 2013
Leitl Recommends Parties Not to Raise Hopes
President of the Austrian Chamber of Commerce, Christoph Leitl considers the demand of the Social Democrats and Chancellor Werner Faymann for a tax relief as soon as 2015 utopian.
September 17, 2013
Schieder: IMF Confirms SPÖ-Claims
State Secretary for Finances, Andreas Schieder regards the demands by the International Monetary Fund (IMF) as a confirmation of those by the Social Democrats (SPÖ).
September 11, 2013
Keuschnigg: “We Already Have The Flat Tax in Austria”
The head of IHS demands tax relief instead of further tax burdens and the adjustment to the inflation rate.
September 3, 2013
Schwarzenberg Criticizes Spindelegger
The former Czech Minister of Foreign Affairs Karel Schwarzenberg thinks that Austria´s Foreign Minister Michael Spindelegger mainly focuses on domestic politics. The CEE region should co-operate closer in future, he claims.
August 24, 2013
Leitl: “Austria Screwed Up”
If the US, as the perpetrator of the financial and economic crisis, shows two percent in economic growth, while Austria only 0.2 percent, then this was a “disgrace”, Leitl announced during the economic forum in Alpbach.
August 21, 2013
Austria: Spindelegger Demands Flexibility of Working Hours
Working hours have become the main issue of the election campaigns. The dispute was incensed by the claims of Minister of Economy Mitterlehner to allow up to twelve hours of work per day.
August 19, 2013
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