Read the latest headlines about developments in Austrian politics with reference to the international interest
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Austria International Political News | International | EU | Domestic

Austrian Post Refurbishes its Board

ÖIAG boss Peter Michaelis gives green light for the refurbishment of the Post’s board. Meanwhile, rumors are growing that the changes will not only affect the parcels sector.

September 16, 2010

ÖIAG Boss Michaelis Under Pressure

ÖIAG Boss Peter Michaelis considers that the "campaign" against him evidences that "the actual work of ÖIAG provides no target for criticism." He considers his 700,000-euro salary as justified.

September 15, 2010

FMA and OeNB Welcome the Basel III Agreement

The package draws the right lessons from the financial crisis and provides for reasonable transition periods.

September 14, 2010

Gambling - Awarding of Austrian concessions not in line with EU laws

After Germany, the domestic monopoly must also be abolished. According to the EU Court of Justice, the awarding of the concession to Casinos Austria is against EU laws due to the lack of a call for tenders.

September 9, 2010

Kommunalkredit back in black

Kommunalkredit AG earned €7.5m ($9.5) net, in the first half of 2010. It is the first period since the split in November 2009; a comparison with the previous year is therefore limited.

August 30, 2010

Verbund - Fight over capital increase further delayed

The controversy over Verbund capital is likely to prolong. Infrastructure Minister Doris Bures will continue to insist on her initial position.

August 26, 2010

Causa ÖBB - Verbund as top priority

Verbund AG wants to increase its equity, the federal government as majority shareholder will support the plan, which will be discussed, in tomorrows Council of Ministers.

August 23, 2010

OIAG to become an infrastructure holding

The OIAG aims to become an infrastructure holding company. The federal real estate company (BIG), Verbund (energy), Asfinag (infrastructure) and parts of the ÖBB (railway) will be slowly integrated in an ÖIAG structure.

July 23, 2010

Banks' equity - "Basel III costs 46 000 jobs"

The stricter rules for the equity of banks will reduce lending by up to 20 percent, says the Institute for Advanced Studies (IHS) in Vienna.

July 21, 2010

Mitterlehner calling for judicious austerity measures

Economics Minister Reinhold Mitterlehner warns EU countries about excessive savings. "Instead of linear cuts, you should save intelligently. Otherwise, domestic consumption is decreased too much," said Mitterlehner.

July 19, 2010

OeNB stresses its commitment to reform

The Austrian National Bank (OeNB) has announced its continuation of current reform policy, in light of stringent austerity measures announcement. Simultaneously, the OeNB said in a press release that its nationalisation has no impact on its independence

July 19, 2010

Wage dumping

It is unusual that the former Austrian Trade Union Federation President Rudolf Hundstorfer finalised a draft law without a vote of social partners.

July 16, 2010

Defying EU fusion reactors

According to calculations of the Green Party Federal Councillor Elisabeth Kerschbaum the project costs Austria €158m.

July 15, 2010

Stress tests - according to Cernko, Austrian Banks in the bottom third

Referring to speculation according to which Austrian banks with their relatively low equity ratio should not perform that well, Bank Austria CEO Willibald Cernko said "If one considers capital only, they will be at the top of the bottom third."

July 15, 2010

Union speaks of "death blow" for Austrian Railway

In the context of the forthcoming increase of capital of Verbund hydro electrical plants could be bought from the Austrian Railway Network ÖBB.

July 15, 2010

Stress tests could be price-sensitive information

At the political level it is fiercely debated how detailed the publication of the stress test should be. The FMA currently tests whether the stress test results are stock market relevant, compulsory publications.

July 14, 2010

Nowotny - raising the "retirement age"

Higher life expectancy, rising deficits: Austrians should therefore delay retirement, says National Bank's CEO Nowotny.

July 13, 2010

Transaction tax - OECD European solo attempt

According to Jeffrey Owens, head of the OECD's tax department, a transaction tax only makes sense if it relates to the financial centres on a global scale.

July 12, 2010

Crisis causing private bankruptcy

Unemployment and less income: more than 50,000 people last year turned to a debt counselling bodies.

July 12, 2010

Pröll on economic status quo, "thunder and lightning are over"

The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.

July 12, 2010

The high debt burden of Austria as target for speculators

In the crisis years 2008, 2009 and 2010, the public debt mountains are exploding. In the EU, the debt within three years has increased from 60 to 80 percent of GDP.

July 9, 2010

Fight against early retirement - Companies should pay

The Wifo suggests that firms should pay if their employees are sick and are sent into early retirement.

July 8, 2010

Stress tests - Erste Bank and RZB on the list

91 European banks will have to undergo stress tests of European regulators. Two Austrian institutions will be tested as well.

July 8, 2010

Higher property tax could bring a billion

A convergence of calculation basis to real market values could, according to the Wifo, generate additional income of half a billion Euros.

July 5, 2010

Commercial Court - 17 illegal clauses at Bank Austria

17 clauses at Bank Austria conflict with the new payment service law, according to the Vienna Commercial Court.

July 5, 2010

Short-time work massively reduced

At the height of the crisis in April 2009, 57 000 employees were short-time workers , there were only 8313 at the beginning of July 2010.

July 2, 2010

Nowotny strongly criticizes the Hungarian bank tax

The Austrian central bank chief Ewald Nowotny has practiced unusually sharp criticism of the Hungarian government, more specifically at the proposed Hungarian bank tax.

June 30, 2010

Energy must not be at mercy of shareholders

The only treasure of Austria must remain in own sphere of influence.

June 30, 2010

Austrian federal government - Massive fall in revenue

The federal government is missing €4b ($4.9b) in revenue, in the first four months of this year. In total a decrease of €6.1b ($7.5b) was registered.

June 29, 2010

EU - Austria granted to extend bank aid package

The European Commission extended the authorization for the Austrian bank rescue package of €100b ($123b) for half a year.

June 25, 2010

EU accuses Austria of hurdles in buying property

The European Commission refers Austria to the European Court of Justice. Reasons are fundamental barriers to the acquisition of agricultural land in Vorarlberg.

June 24, 2010

INSITO international symposium on the quality of work in Vienna

Securing and improving working conditions, health and safety at work in times of crisis will be discussed from today by international scientists and interest representatives from Vienna.

June 24, 2010

Migration barriers - Austria missing out on Human Capital

Due to existing migration barriers, Austria looses highly skilled workers who are hard to find, especially in the years of the boom in the domestic labour market.

June 23, 2010

EU government leaders agree on bank tax

Financial transaction tax demanded for G-20.

June 17, 2010

Christoph Hinteregger new chief negotiator of metalworkers

Deputy chief negotiator is Alfred Hintringer - former chief negotiator Hermann Haslauer available as consultant.

June 17, 2010

Tumpel - No mass taxes!

Higher taxes would further boost inflation - rising prices mean less purchasing power and ultimately less growth.

June 16, 2010

Finance Minister Pröll against publication of stress tests

Finance Minister Josef Pröll has expressed his discontent at a press briefing this afternoon about the current European debate on the publication of stress tests of individual banks based on the U.S. model.

June 16, 2010

Austrian Chamber of Commerce - Fritz Aichinger is the new chairman of trade

Aichinger succeeds Erich Lemler – Deputy: Jutta Pemsel and Wolfgang Sauer

June 16, 2010

Kogler accuses Leitl of fiscal incompetence

WKÖ chief to submit reorganization plan or to remain silent.

June 14, 2010

OMV could be an accomplice in war crimes and crimes against humanity

OMV produced oil from 1997 to 2003 in sector 5A in Sudan. The current report of the European Coalition on Oil in Sudan (ECOS) provides new evidence that there is a direct link between oil production and the intensification of the conflict.

June 14, 2010

Austria has 39,077 dollar-millionaires

The number of dollar millionaires did not only rise in Austria but also increased substantially worldwide.

June 11, 2010

Pröll - Austria will introduce a bank tax in a solo attempt.

"The bank tax will be discussed together with the banks and it will be implemented, I stand for that," announced Finance Minister Pröll.

June 11, 2010

Hochhauser - Austria's business landscape is becoming more and more an female entrepreneur landscape

Special Prize of the Economic Chamber of Austria "women in leading positions" goes to Margaret Fürtbauer.

June 11, 2010

Green Party Vienna sharply criticises the Summit Bank

"Scandalous interplay of politics and banks'

June 11, 2010

Fresh money for upcoming infrastructure projects

If it was for the BZÖ party, parts of the ÖBB should by privatised by being listed.

June 10, 2010

Austrian President Dr. Heinz Fischer - banks should also make contribution to costs of the crisis

Austrian President Dr. Heinz Fischer said today at the IIF conference in Vienna "a developed social system and equitable distribution of income and wealth for the economic efficiency and political stability of a country are particularly important".

June 10, 2010

Vassilakou - 50,000 new green jobs in Vienna possible

"50,000 new green jobs are possible in Vienna," says the club chairwoman of the Greens Vienna, Maria Vassilakou, in reference to a study by Greenpeace presented today in Berlin, that the world could produce 8.5 million jobs in the renewable energy.

June 7, 2010

Schieder wants ban on short selling

The Financial Secretary sees Germany as role model.

June 4, 2010

Tumpel - draw lessons from the crisis

"The financial markets and their actors have brought the worst economic crisis since the Second World War "says Austrian Chamber of Labour President Herbert Tumpel...

June 2, 2010

Tumpel pleased with labour market revitalization

"The recovery in the labour market is a welcomed development. This shows that the economic stimuli programmes and actions of the Minister of Social Affairs are important and correct, "says AK President Herbert Tumpel.

June 1, 2010