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BayernLB: “We Were Brazenly Betrayed by Austria"
CEO of BayernLB Gerd Häusler claims the German bank and former parent company of nationalized Hypo Group Alpe Adria accuses Austria of having taken the law into its own hands.
March 18, 2014
Hypo Group: Government Explains Downsizing Solution
On Tuesday the Austrian government will explain the decided downsizing solution for the ailing bank Hypo Group Alpe Adria. Carinthia only wants to pay € 300m in downsizing costs.
March 18, 2014
Serbian President: Vucic is New PM
Serbian President Tomislav Nikolic named Aleksandar Vucic as new Prime Minister.
March 17, 2014
Austria: Carinthia Forced to Pay for Hypo Group
Finance Minister Michael Spindelegger announced wanting to include the federal province of Carinthia to participate in the downsizing costs for ailing bank Hypo Group Alpe Adria. Austerity measures are “inevitable”.
March 17, 2014
Belka: Poland Should Not Haste into Eurozone
Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.
March 17, 2014
Serbia: Landslide Victory for Vucic
After Deputy Prime Minister Aleksandar Vucic’s party saw an overwhelming victory in the early parliamentary elections the new government is facing a hard road ahead.
March 17, 2014
Austria: Spindelegger Puts Pressure on BayernLB
In the dispute with BayernLB, former parent company of problem bank Hypo Group Alpe Adria, Finance Minister Michael Spindelegger calls for a tougher approach.
March 17, 2014
Slovakia: Fico Gains Narrow Win in First Election Round
A runoff between Slovak Prime Minister Robert Fico and independent billionair Andrei Kiska has got to be held now. In the first round of elections Fico only had a head start of four percent.
March 17, 2014
Serbia: Vucic Stands Good Chances of Becoming PM
Vucic is regarded new Serbian Prime Minister in the parliamentary elections.
March 15, 2014
Slovakia: PM Fico Regarded Winner of Presidential Elections
As reported by Slovakian media, the presidential elections started off peacefully and without any disturbances. Prime Minister Fico is considered the clear winner of the elections.
March 15, 2014
Austria: Spindelegger Demands Valid Figures by Hypo Group
Finance Minister Michael Spindelegger demands valid figures from Hypo Group Alpe Adria before any further capital injections will be made by the Austrian state.
March 15, 2014
Austria: Delay in RBI Paying Back State Capital
Austrian Raiffeisen Bank International (RBI) will take longer than planned to pay back state capital.
March 15, 2014
Immofinanz: Buwog’s Spin-Off Approved
In an extraordinary shareholder meeting, the spin-off of residential real estate affiliate of Immofinanz was approved by the shareholders.
March 14, 2014
Austria: IV Welcomes Government‘s Decision on Hypo
According to Kapsch, president of IV, Hypo Group’s insolvency would have meant uncertainty and damages to the reputation of the business location Austria.
March 14, 2014
Poland: Lowest Budget Deficit Since 2008
The budget deficit as per the end of February, was the lowest since 2008.
March 14, 2014
Hypo Group: Decision Has Finally Been Made
The government has finally made a decision. Ailing Hypo Group Alpe Adria will be downsized through a private bad bank.
March 14, 2014
Austria/SEE: Crucial Days for Hypo Group’s Future
Today the supervisory board of ailing Hypo Group is gathering to determine the financial gap of Hypo Group and the amount required to complete the balance sheets for 2013. Moreover, a decision about the SEE network will have to be made.
March 14, 2014
Poland: “Time for Belt-Tightening”
Poland is required to cut the deficit in the public finance sector.
March 13, 2014
Austria: DiTech to be Taken Over by Investor
Insolvent computer equipment trader DiTech is supposed to be taken over by a German investor with Polish roots.
March 13, 2014
Austria: Bawag to Pay Back State Capital
Bawag is expected to pay back the entire public participation captial tomorrow. The assets are urgently required for recapitalizing Austrian problem bank Hypo Group.
March 13, 2014
Serbia to Continue Path towards EU
Even after the elections the new government intends to continue the path towards an EU membership.
March 13, 2014
Austria: Who Will Pay for Hypo Group?
In the dispute around who is to pay for problem bank Hypo Group Alpe Adria Chancellor Werner Faymann intends to negotiate with the Austrian provinces about a contribution to the bank levy.
March 13, 2014
Serbia: “Reforms Are Social Responsibility”
According to economic advisor and former director of the International Monetary Fund (IMF) Dominique Strauss-Kahn, Serbia’s efforts to improve state finances and push through with reforms, was visible.
March 12, 2014
Hypo Group: Insolvency Still an Option?
The group of international advisors appointed by the Austrian government seems to have come to a different conclusion than the task force of Hypo Group Alpe Adria.
March 12, 2014
Poland: Changes in Monetary Policy to Come Gradually
Polish macroeconomic conditions support a stabilization of monetary policy, according to Anna Zielinska-Glebocka, member of the Monetary Policy Council.
March 12, 2014
Bank Austria to Focus on Growth Markets in the Future
Because of the high value of write-offs Bank Austria, CEE affiliate of Italian UniCredit, had to face record losses amounting to € 1.6bn. CEO Willibald Cernko, however, does not consider the bank having made any mistakes in the past.
March 12, 2014
Hypo Group: Losses Expected to Run into Billions
Hypo Group Alpe Adria is expected to reveal losses of around € 2bn in the balance sheet for the business year 2013. Up to now, losses in the amount of € 1.3bn were expected.
March 12, 2014
Task Force: Time Is Running out for Hypo Group
The final report by the task force of problem bank Hypo Group Alpe Adria calls upon the Austrian government to make a decision about the downsizing until mid-March.
March 11, 2014
Losses Running into the Billions for Bank Austria
Bank Austria’s results for the 2013 financial year.
March 11, 2014
Faymann: Provinces to Participate in Hypo’s Downsizing Costs
Chancellor Werner Faymann announced that the provinces will have to make a financial contribution to the downsizing costs of Hypo Group. He is in favor of using the provincial share of the bank levy.
March 11, 2014
Austria: Banking Secret for Foreigners to be Abolished Forever
From 2017 on, the banking secret for non-Austrian residents will be abolished completely.
March 11, 2014
Poland: PKO BP to Sell Parts of Consumer Loan Portfolio
This year, the largest lender in Poland intends to sell a part of its consumer loan portfolio in the amount of PLN 2.3bn to 2.5bn.
March 11, 2014
Austria: Hypo Group Disaster with Exorbitant Costs
The extent of the disaster of Austrian problem bank Hypo Group Alpe Adria only starts to unfold bit by bit. A further capital injection of € 750m is needed only for the ailing bank to complete its balance sheets.
March 11, 2014
Austria: Computer Trader DiTech Declares Insolvency
Viennese hardware computer trader DiTech has slipped into insolvency.
March 10, 2014
EUSD: Austria “Ready to Agree“
Despite earlier statements to the contrary, Austria could now agree to the extension of the European Saving’s Directive (EUSD) during tomorrow’s ECOFIN meeting in Brussels.
March 10, 2014
Hypo Group: Further State Aid Necessary This Year
Finance Minister Spindelegger fears that nationalized problem bank Hypo Group Alpe Adria will require further state aids for its downsizing still within this year.
March 10, 2014
Polish Currency Still Affected by Ukrainian Crisis
The Polish Zloty continues to be unstable in the light of the political crisis in Crimea.
March 10, 2014
Austrian Bank Secret Remains Until 2017
Austrian Finance Minister Spindelegger will present proposals for amendments of the EUSD tomorrow.
March 10, 2014
Austria: Painful Austerity Measures Ahead
The Austrian public debt level grows massively. The disaster of the nationalized Balkan lender Hypo Group Alpe Adria is not the only reason for the unfavorable situation.
March 10, 2014
Austria: Spindelegger Still Does Not Exclude Hypo’s Bankruptcy
In an interview with daily “Österreich” Finance Minister Michael Spindelegger announced his intention of very carefull examining the task force’s final report about ailing bank Hypo Group.
March 8, 2014
Austria: State Aids for Banks Almost Exhausted
The financial framework for the banking aid for Hypo Group Alpe Adria is almost exhausted. So far the federal state of Austria has spent up to € 6.2bn.
March 8, 2014
Austria: Hypo Group’s Final Report Eagerly Awaited
The eagerly awaited final report of Hypo Group’s task force is supposed to be presented to the government this weekend.
March 8, 2014
Ukrainian Crisis: Czech Republic Against Sanctions
Instead of economic sanctions against Russia, diplomatic talks should de-escalate the tense situation. President Zeman wants to create a Ukrainian Federation.
March 8, 2014
Austria: Opposition Still Hopes for Government to Come Around
NEOS offer the government the chair for the parliamentary investigation committee with regard to the nationalization of ailing Hypo Group Alpe Adria and its former parent company BayernLB.
March 7, 2014
Slovenia: Government Envisages Reform Measures
After the EU Commission delivered a warning to Slovenia over the macroeconomic imbalances Prime Minister Alenka Bratusek announced yesterday she had expected such a report.
March 7, 2014
Austria: Banking Supervision Reveals Deficiencies
An intern test report of the Austrian National Bank (OeNB) and the Financial Market Authority (FMA) reveals insufficiencies in the documentation of the banking supervision.
March 7, 2014
Slovenia: Commissioner Calls for Reforms and Further Privatizations
EU Commissioner for Economic and Monetary Affairs Olli Rehn said that Slovenia had to continue to push forward with further privatizations and economic reforms.
March 6, 2014
Romania: New Government Formed
Romanian President Traian Basescu approved the new minister of the new coalition government just in time.
March 6, 2014
Austria: Opposition against “Council of Whitewashing“
The Austrian opposition, the Green Party foremost, is putting more pressure on the government to create a parliamentary investigation committee for problem bank Hypo Group Alpe Adria.
March 6, 2014
Poland Reconsiders Joining Eurozone
The current political crisis in Ukraine is also causing turmoil at the Polish financial markets letting the national currency drop significantly against the Euro.
March 5, 2014
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