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More Austria International News

Sorger Underlines Austrian Crisis Management

The President of the Federation of Austrian Industries Veit Sorger reaffirms the necessity of austerity and investments of the private sector.

May 19, 2012

Androsch Criticizes Political Inactivity

The former Austrian Finance Minister and industrialist Hannes Androsch thinks that both austerity and growth strategies are needed and criticizes the government sharply.

May 18, 2012

Keuschnigg: „Austria Needs More Federalism“

The new director of IHS (Institute of Advanced Studies) considers that a decentralization of the fiscal policy would bring more competition between the provinces.

May 18, 2012

Economic Indicator: Slow Recovery Expected

The Bank Austria business indicator indicates a slight upward trend. In the second quarter, economic growth is expected to reach 0.2%.

May 16, 2012

Keuschnigg Worries About Austria´s Competitiveness

The new director of IHS (Institute of Advanced Studies) Christian Keuschnigg suggests reforming the Austrian labor market. The welfare state would be too sophisticated.

May 15, 2012

A “Speech to Austria”? No.

The disenchantment with politics in Austria is as big as never before. An ambitious, but meaningless speech of Vice-Chancellor Spindelegger will not change the misery.

May 15, 2012

Eder: „Not Making Mistakes of UK and USA“

The CEO of Austria´s largest steel producer voestalpine warns of a de-industrialization in Europe. Today, the UK and the USA would regret their decisions of the past.

May 14, 2012

Keuschnigg: „Problem Countries Must Cut Wages“

The designated director of the Austrian IHS (Institute of Advanced Studies) thinks that a drastic wage cut in Greece, Portugal and Spain is inevitable.

May 12, 2012

„Combining Austerity and Growth Measures“

The Austrian Minister of Economics and the President of the Austrian Chamber of Commerce claim a European growth strategy without turning down austerity policies.

May 11, 2012

As Recession Grips its Neighbors, Austria May Escape the Carnage

The world’s economic focus continues to be Europe and whether its widening list of travails will once again derail the global recovery, as it did a year ago at this time.

May 8, 2012

Greece: „The Markets were too Euphoric“

In an interview with the Austrian newspaper “Standard”, the Austrian analyst Friedrich Mostböck thinks that the European debt crisis will remain a major challenge.

May 7, 2012

Leitl: „EU Needs Budget Consolidation and Growth Measures“

The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.

May 5, 2012

ESM: The Final Ruin of Europe

Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.

May 2, 2012

RZB´s Rothensteiner: „Not Interested in VBAG“

Walter Rothensteiner, CEO of Raiffeisen Zentralbank (RZB), does not see a suitable takeover target in the partly nationalized VBAG.

April 28, 2012

Triple-A Will Not Return Soon

The U.S. rating agency S&P dashes hopes that Austria may get back its “AAA” soon. Austrian banks may still face risks as the crisis is over yet, S&P says.

April 20, 2012

Felderer: „Women Must Have More Children”

The director of the Austrian Institute of Advanced Studies (IHS) sees a demographic problem in Austria as well as in Europe. Migration cannot solve the problem, Felderer says.

April 19, 2012

Felderer: „Another Downgrade Less Probable“

The Austrian economist Bernhard Felderer thinks that the risk of another downgrade of Austrian sovereign bonds has decreased.

April 18, 2012

Mitterlehner: „AAA is still Far Away“

Austria´s Minister of Economics does not believe that S&P gives back the “AAA” rating soon. However, the debate about Austria´s rating is overvalued, he thinks.

April 17, 2012

Fitch Confirms “AAA” For Austria

The U.S. rating agency Fitch Ratings has affirmed Austria's Long-term foreign and local currency Issuer Default Ratings at 'AAA'. The rating Outlooks on both Long-term ratings are Stable.

April 17, 2012

Tax Deal Fiercely Criticized

Last week, Austria concluded a tax treaty with Switzerland. For experts, the deal does not solve the main problems.

April 16, 2012

Austrian Economy on Moderate Growth Course

Bank Austria Forecasts table growth until summer followed by chances of an upswing. Austria could achieve GDP growth of 0.8 percent in 2012 and 2 percent in 2013.

April 16, 2012

Every Second Austrian Feels Affected by Austerity Policies

The government's austerity program causes the average amount saved to decline to € 5,085. The planned credit volume rises to € 79.800.

April 16, 2012

Call for Structural Reform of Social Policy

The Federation of Austrian Industries reaffirms the high non-wage labor costs and intends to raise efficiencies in the health sector. The retirement age would be too low.

April 12, 2012

Good Prospects for ATX

According to Paul Severin at Erste Asset Management, Austrian equities may face a significant upward trend.

April 12, 2012

Telecommunication Industry Faces Declining Revenues

Telekom Austria´s CEO Hannes Ametsreiter forecasts declining revenues and profits at the Austrian telecommunication industry. For his own company, Ametsreiter is slightly optimistic.

April 11, 2012

Where is Austria´s Gold?

The major part of Austria´s gold reserves should be located in the U.S. The Austrian Central Bank does not answer any questions.

April 10, 2012

„Bank Aids Are Lost“

The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.

April 10, 2012

„Natural Gas to Become Most Important Energy Source“

Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.

April 7, 2012

Oberbank Aims For „Organic Growth“

The Upper-Austrian regional bank continues its growth course and underlines its financial stability and independence.

April 6, 2012

Austria Must Underline its Headquarter Function

Austria as hub for CEE markets is still popular. Nevertheless, there is a lack in a sustainable and flexible strategy. The geographical proximity to CEE countries is insufficient.

April 2, 2012

Austrian Industry Running Increasingly Smoothly

The Austrian industry has potential: positive surprise still possible despite tight earnings situation caused by high commodity prices. Export orders rise strongly again.

March 30, 2012

Poland Remains Attractive for Real Estate Investors

In its country report, Bank Austria sees Poland still as an interesting real estate market. Nevertheless, prime yields are declining already.

March 28, 2012

Voestalpine Forecasts Improved Business Conditions

Austrian steel group voestalpine expects results to improve from April 2012 as it benefits from price hikes and solid demand, Reuters reported.

March 27, 2012

Vienna Stock Exchange Calls for New Listings

Birgit Kuras, the new member of VSE´s management board aims to enhance the stock exchange´s importance and pushes for further privatizations.

March 27, 2012

Keuschnigg: „Greece Must Leave Eurozone“

The Austrian Economist and designated director of HIS, Christian Keuschnigg advised Greece to leave the euro zone.

March 26, 2012

Nowotny: “Portugal in Much Better Shape Than Greece”

The Governor of the Austrian Central Bank (OeNB) and ECB Council Member Ewald Nowotny is optimistic on Portugal´s medium-term prospects. The country faces much less liquidity constraints than Greece.

March 21, 2012

Cernko Claims Bank Rescue Fund

Bank Austria´s CEO Willibald Cernko wants the bank tax to be solely used for a stability fund in order to support financially stricken banks.

March 20, 2012

Modest Economic Spring With Upward Potential

Bank Austria Business Indicator for February confirms that the economic turnaround has already begun. The outlook is positive.

March 19, 2012

Bank Austria Plays Down Hungary Risks

The head of UniCredit unit Bank Austria's central and eastern Europe business played down potential risks from Hungary in a magazine interview published on Friday.

March 19, 2012

Vienna Initiative an Insurance Policy, not a Game Changer, Fitch Says

The principles adopted Tuesday in “Vienna Initiative 2.0” do not change Fitch’s base case expectation that central, eastern and south-eastern Europe (CESEE) will continue to see weak, or marginally negative, credit growth in the near-to-medium term.

March 15, 2012

Despite Loss of AAA: Austria Pays Less Interest

The Austrian Republic had to pay € 300m less than initially expected in 2011. In spite of the downgrade by S&P, the trend seems to continue.

March 10, 2012

Ghizzoni: „Austrian Bank Tax Is Painful“

The Chief Executive Officer of UniCredit, the holding company of Bank Austria emphasizes not to sell the Austrian subsidiary. The bank tax is “unfair”.

March 10, 2012

„The Public Sector Does not Get Enough“

Klaus Pöttinger, President of Upper Austria´s IV takes Switzerland as model. Taxes would be too high, efficiency of the public sector is too low, he says.

March 9, 2012

Leitl: „Austerity Package Is Not Enough“

For Christoph Leitl, the President of the Austrian Chamber of Commerce (WKÖ), the recently resolved austerity package does not contain the essential reforms.

March 9, 2012

Cernko Criticizes VBAG Bail-Out

Willibald Cernko, CEO of Bank Austria considers that the Austrian state reacted too late. A partly nationalization could have taken place already one year before.

March 9, 2012

Bank Taxes: Nowotny Supports Government

OeNB´s governor Ewald Nowotny defends the coalition plans to raise bank taxes by 25%.

March 7, 2012

Again Criticism on Austerity Package: „Lack in Sustainability“

The President of the Viennese Federation of Austrian Industries (IV), Georg Kapsch, misses details of the austerity package. The package is not ambitious enough, Kapsch considers.

March 5, 2012

Beyrer Aims For Strategic Investor at Telekom Austria

The head of the state holding ÖIAG and Telekom Austria´s supervisory board believes that Ronny Pecik will not remain as shareholder. A strategic partner is desired.

March 5, 2012

Nowotny: „Austrian Banking Activities in CEE Better than their Reputation”

According to the governor of the Austrian Central Bank (OeNB), Ewald Nowotny, Austrian banks engaged in Central and Eastern Europe are more stable than they are supposed to be.

March 1, 2012