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Vienna International Community - People in the News - Latest Headlines

Hungary: Customers Fleeced by Banks

For the first time in three years Hungarian commercial banks have returned to profitability. However, extra cost, caused by political circumstances, was passed on to clients.

February 26, 2014

Austria: National Assembley Rejects Investigation Committee

The parliamentary investigation committee for Hypo Group, demanded by the opposition parties, was rejected in a roll-call vote in the National Assembley.

February 26, 2014

Romanian Government Falls Apart

After the ongoing dispute about administrative posts Romania is left without a government. Moreover, the opposition calls for Prime Minister Viktor Ponta’s resignation.

February 26, 2014

Leaders from Western Balkans Meeting at EBRD

Prime Ministers from the Western Balkans are gathering to discuss economic cooperations.

February 25, 2014

Austria: Hypo Group Council to Strain Budget Even More

The Finance Ministry will appoint an international consulting team for the downsizing of nationalized problem bank Hypo Group Alpe Adria. However, costs are increasing dramatically by this step.

February 25, 2014

CNB Not to Stop Monetary Interventions Just Yet

Exchange rates in the Czech Republic will not go back to the state before monetary interventions were carried out by CNB.

February 25, 2014

Austria: “Council of the Wise“ for Hypo Group

Instead of a parliamentary investigation committee the coalition expressed its wish to appoint a “Council of the Wise” for the the assessment of the ailing bank’s nationalization.

February 25, 2014

Austrian Bank Secrecy to be Abolished by 2016

EU Commissioner Algirdas Semeta recently stated that bank secrecy in Austria will expire since by then the automatic exchange of information will be implemented as a standard.

February 24, 2014

Slovenia: SMEs Protest Against Real Estate Tax

Tax bills would rise by many times for small business owners.

February 24, 2014

Hypo Group: Nowotny Calls for Fast Proceeding

Newly designated head of Hypo Group’s task force, Governor of the Austrian National Bank (OeNB) Ewald Nowotny, calls upon the government to fastly proceed with the downsizing of the ailing bank.

February 24, 2014

Austria: Spindelegger under Attack

Finance Minister Spindelegger is under attack by former head of Hypo Group’s task force, Liebscher.

February 24, 2014

Slovenia: NLB Reports Losses in Business Year 2013

The biggest lender in Slovenia has amounted considerable losses because of having been forced to create loan loss provisions.

February 22, 2014

Hypo Group: Nowotny to Replace Liebscher

After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.

February 22, 2014

Serbia: Full EU Member by 2020?

Aleksandar Vucic, Deputy Prime Minister of Serbia, said on Thursday evening that the country had full political stability and announced that the country’s aim is to become an EU member in 2020.

February 22, 2014

Felderer: Insolvency More Expensive Than Bad Bank

According to Felderer, president of the fiscal council, the option of insolvency for Hypo Group Alpe Adria is more expensive than the establishing of a national bad bank

February 22, 2014

Austria: Investment Banker Part of Hypo’s Expert Group

A former investment banker is supposed to support Austrian government in the Hypo Group issue.

February 21, 2014

Austria: Head of Hypo Group’s Task Force to Resign

Klaus Liebscher, head of Hypo Group’s task force, steps down.

February 21, 2014

Government Examines Haircut of Hypo Group’s Investors

Ignoring the warnings of Hypo Group’s task force, Finance Minister Michael Spindelegger now wants investors in Hypo Group to participate in the restructuring of the ailing bank.

February 21, 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

Serbia: Structural Reforms to Boost FDI

Recent projections of the National Bank of Serbia (NBS) forecast foreign direct investments (FDI) to increase to € 1bn this year up from € 750m.

February 21, 2014

Spindelegger: Taxpayers Should Not Carry Whole Load

Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.

February 20, 2014

Austrian Government Wants International Group of Experts

More and more voices for a parliamentary investigation committee for ailing bank Hypo Group Alpe Adria are being raised even within the SPÖ and the ÖVP. However, the government has other plans.

February 20, 2014

Hypo Österreich = Austrian Anadi Bank

Hypo Österreich will be renamed to “Austrian Anadi Bank”.

February 20, 2014

Romania: President Fires Financial Supervision Authority

President Basescu fires the entire staff of the Romanian Financial Supervision Authority (ASF).

February 20, 2014

Serbian Governor: Banking Sector Stable

According to Tabakovic, governor of NBS, the Serbian banking sector was solvent and well-capitalized.

February 20, 2014

Polish PKO BP Tapping into Swedish Leasing Market

Major Polish lender PKO BP has opened a branch of its leasing unit in Sweden.

February 20, 2014

Liebscher: Government Is to Blame

Head of Hypo Group’s Task Force Klaus Liebscher rejects being turned into the scapegoat of delaying important decisions about the downsizing of the problem bank. Instead, he points his finger to the Austrian government.

February 20, 2014

Low Expectations in Nuclear Talks with Iran in Vienna

Optimism among officials about successful talks to end Iran’s nuclear program is restrained.

February 19, 2014

Zeman: Entry in Eurozone Delayed

In a speech to the Lower House ahead of the vote in confidence for the new government Czech President Milos Zeman expressed his dissatisfaction over the latest monetary intervention by the Czech National Bank (CNB).

February 19, 2014

Montenegro Gets Own Embassy in Romania

On Tuesday Montenegro opened its first embassy in Romania.

February 19, 2014

Picker: Hypo to Cost Taxpayers “Only” up to € 4bn

According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.

February 19, 2014

Czech Republic: New Government Passed Vote of Confidence

The new Czech government under Prime Minister Bohuslav Sobotka has passed the vote of confidence in parliament yesterday.

February 19, 2014

Hypo-Disaster: Government Playing Hide and Seek

After the emergency sitting in the National Assembley, which was demanded by the opposition parties and took place yesterday, the Austrian government refused to answer questions to the press and the public.

February 18, 2014

Conference on Combating Human Trafficking

Joint Council of Europe – OSCE high-level conference on combating human trafficking, 17-18 February at Hofburg, Vienna.

February 18, 2014

Spindelegger Positive about Creation of Financial Transaction Tax

In the run-up to the beginning of the ECOFIN Council in Brussels, negotiations about the further proceeding of the financial transaction tax were held among eleven EU finance ministers.

February 18, 2014

Poland: Strong Prospects for High Growth

Prime Minister Donald Tusk is positive Poland will achive a GDP growth of more than three percent this year.

February 18, 2014

Nowotny: Negative Interest Rate Conveys Feeling of Crisis

Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.

February 18, 2014

Czech Republic: Government Asks for Vote of Confidence

The new Czech government was appointed at the End of January. On Tuesday Prime Minister Bohuslav Sobotka and his cabinet will ask for a vote of confidence in parliament.

February 18, 2014

Cooperation between Vienna and Warsaw Stock Exchanges to Kickstart 2014

As announced by Adam Maciejewski, CEO of GPW, the operator of the Warsaw Stock Exchange (WSE), the cooperation between WSE and VSE (Vienna Stock Exchange) could be completed this year.

February 17, 2014

Slovenia: Heading for Recovery

Slovenia seems to have circumnavigated the crisis as the small country is not a Eurozone bail-out candidate anymore, according to Prime Minister Bratusek.

February 17, 2014

Austria: Still No Clarity in Hypo Group Disaster

The Austrian parliamentary parties continue to shift the blame onto each other. Details still have not been presented yet.

February 17, 2014

Serbia: Fast Implementations of Reforms Crucial

Tanja Miscevic, chief negotiator in the EU accession talks, announced on Sunday that elections in Serbia are not slowing down the process in European integration.

February 17, 2014

Government Downplaying Effects of Hypo Group Desaster

Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.

February 17, 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

Hypo Group Alpe Adria: Nowotny Attacks Fekter

Governor of the Austrian National Bank (OeNB) Ewald Nowotny criticizes former Minister of Finance Maria Fekter sharply and blames her for inactivity.

February 15, 2014 · Updated: February 15, 2014; 18:19

Kurz: “We Want Serbia to Join EU ASAP”

According to the Austrian Foreign Minister, the prospect of an EU membership could help accelerate the implementation of reforms.

February 14, 2014

EU Puts Limit to State Aids for Hypo Group

So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.

February 14, 2014

Slovakia: Vote of No Confidence against PM Failed

The vote of no confidence against Prime Minister Robert Fico failed in parliament.

February 14, 2014

Serbia: FDI of Great Importance for Economy

According to Deputy Prime Minister Vucic, the country’s biggest problem was the rate debt rate and fiscal deficit.

February 14, 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