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More Austria International News

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

„Up to 70% of European Steel Capacities are Endangered“

Wolfgang Eder, CEO of Austrian voestalpine, thinks that the European steel industry faces fierce competition from the East.

July 3, 2012

„ECB as Only Supervisor Not Likely“

OeNB`s (Austrian Central Bank) Governor Ewald Nowotny does not think that ECB will act as only banking supervision authority.

July 2, 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

Nowotny: „Bank Aids Rescue Economy“

The governor of the Austrian Central Bank OeNB underlines the necessity of the bail-out of Spanish banks.

June 23, 2012

New IV´s President Dissatisfied with Political System

The corruption scandals oft he past would damage Austria´s reputation as business location, Georg Kapsch thinks.

June 23, 2012

Chemical Industry Warns of Investment Stop

Peter Untersperger, CEO of the fiber manufacturer Lenzing and chairman of the Austrian chemcial industry is very critical of the energy efficiency act.

June 22, 2012

FPÖ Claims Popular Vote on ESM

The biggest Austrian opposition party warns of giving up the sovereignty. Together with the smallest opposition party BZÖ, FPÖ will vote against ESM.

June 21, 2012

„Austria Is Threatened by a National Bankruptcy“

The Austrian economist Eva Pichler warns of the ESM and appeals on the Austrian Parliament not to ratify the „recue package“.

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

RZB Wants to Keep Austrian Deposit Protection

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is skeptical of the European deposit protection proposal.

June 15, 2012

FPÖ: „Europe Has a Banking Problem“

The Austrian opposition leader Heinz-Christian Strache criticizes that European countries are downgraded due to their banks. Further bank aids would be likely.

June 13, 2012

Austrian E-Control Supports Shale Gas Exploitation

Walter Boltz, CEO of the Austrian energy market regulator, thinks that Europe would benefit from the shale gas exploitation.

June 13, 2012

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

Austrian Banks Perform Well in Eastern Europe

The Austrian banks did not overreach themselves in Eastern Europe, the economist Bernhard Felderer says. By contrast, UniCredit, RBI and Erste Group are highly profitable.

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

The Vienna Initiative – Moving to the New Phase „Vienna Plus“

The Vienna Initiative’s stakeholders decided to transform the Initiative so that it plays an important role in helping with crisis prevention, while remaining available to deal with any aftershocks from the global crisis.

June 8, 2012

„Bank Union is Still Far Away“

Ewald Nowotny, Governor of Austria´s Central Bank, thinks that a bank union in the Eurozone would still take some time. Erste Group´s CEO Andreas Treichl approves the idea.

June 6, 2012

„India and China are not the Problems“

Voestalpine´s CEO Wolfgang Eder thinks that competitors from Turkey, Russia and Ukraine may become problematic for the European steel industry.

June 5, 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

Trade Unions Wants „Just Taxation“

The Austrian Trade Unions warn of a strict austerity policy and pushes for growth stimulating measures.

June 2, 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

Androsch Criticizes Hypo Group Purchase

In 2009, the Austrian state nationalized the financially stricken Hypo Group. Much time was wasted, the industrialist and Fimbag board member Hannes Androsch thinks.

May 30, 2012

„Something Is Wrong in Austria“

According to the Austrian Chamber of Labor, Austrian workers have to bear the highest burden of the crisis. The contribution of great fortunes would be insufficient.

May 30, 2012

Austrian Industry: „Growth Instead of Redistribution“

After the Austrian Chamber of Labor claimed he Federation of Austrian Industry underlines that Austria has the highest redistribution quota among OECD members.

May 30, 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

"Europe Needs Economic Growth and Budget Discipline“

Structural reforms are necessary to make Europe sustainably more competitive, Christoph Leitl, President of Austria´s Chamber of Commerce (WKO) says.

May 26, 2012

Fekter Emphasizes: „Eurobonds Do Not Solve Debt Problem“

Maria Fekter, Austria´s Minister of Finance, thinks that the idea of common bonds is no real solution, but only symptom fighting.

May 26, 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

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

Austrian Industrial Sector Pushes for Austerity

The Federation of Austrian Industries sees still a huge potential to reduce public expenses and underlines the importance of the industrial sector.

May 22, 2012

“Telekom Austria May Become Second AUA“

The head of the Austrian investor´s association (IVA) Wilhelm Rasinger fiercely criticizes Telekom Austria´s core shareholder ÖIAG.

May 22, 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

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