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Fico: „Privatizations Were Our Biggest Mistake“

Slovakia´s Prime Minister Robert Fico thinks that the austerity policy in Europe is the wrong way.

January 21, 2013

Eder Reaffirms: „European Industrial Sector Is in Danger“

In an interview with the Austrian news magazine “Presse”, voestalpine´s CEO Wolfgang Eder criticizes the European industrial policy sharply.

January 21, 2013

WIFO Wants Higher Property Taxes

Karl Aiginger, director of Austrian Institute of Economic Research, suggests reducing wage taxes.

January 21, 2013

Rostowski Calls for Further Interest Cuts

Polish minister of finance Jacek Rostowski wants NBP (Polish National Bank) to lower the base rate further.

January 21, 2013

Poland´s Rating Not Endangered

According to the U.S. rating agency Fitch, Poland´s “A-“ rating is “robust”.

January 21, 2013

Vienna Airport Customs Office: Number of Seizures Was Up Significantly

"The Vienna Airport customs office’s annual announcement of its performance statistics once again confirms the outstanding work of Austria’s customs officials." the Austrian Ministry of Finance says.

January 21, 2013

Stepic on Austrian Banking Sector: „There is some Need for Reforms”

In an interview with the Austrian newspaper “Presse”, RBI`s (Raiffeisen Bank International) CEO Herbert Stepic explains that the current situation of the Austrian banking sector is ambiguous.

January 19, 2013 · Updated: January 19, 2013; 19:31

Czech Republic: Both Presidential Candidates Want to Join Eurozone

Unlike the outgoing President of the Czech Republic Vaclav Klaus, Milos Zeman and Karel Schwarzenberg are in favor of the euro.

January 19, 2013

Russian Rosatom May Build Nuclear Power Plant in Bohunice

Because of the completion of the Czech nuclear power plants, the Czech energy company CEZ is expected to withdraw from the construction project.

January 19, 2013

Serbia: Dinkic Underlines Importance of South Stream Pipeline

The South Stream pipeline is a “national project” and of vital interest for Serbia, Minister of Economics Mladjan Dinkic says.

January 19, 2013

Klaus Recommends to Vote not for Schwarzenberg

Czech President Vaclav Klaus will stay in office until March. Klaus does not want Karel Schwarzenberg to become his successor.

January 19, 2013 · Updated: January 19, 2013; 15:47

Poland: Credit Line Renewed

The IMF guarantees a credit line of € 26bn to the Polish government.

January 19, 2013

Czech Republic Decides to Enlarge Temelin Power Plant

Today, the Czech Ministry of Environment has approved the enlargement of the nuclear power plant in southern Bohemia.

January 18, 2013

Austria: Corruption Is Costing Taxpayers € 17bn

A report issued by OECD analyzes the economic costs of corruption. In case of Austria, the damage totals about 5% of the GDP.

January 18, 2013

IMF to Visit Serbia Again

The International Monetary Fund underlines that Serrbia must reduce its public debt. At the same time, the government must stimulate economic growth, IMF says.

January 18, 2013

Czech Republic: Czech Government Withstand Another Vote of Confidence

The stability of the Czech government is still doubtful. For the time being, the coalition can deal with the pressure from the opposition.

January 18, 2013

Serbia: Key Policy Rate Raised to 11.50 Percent

At its meeting today, the Executive Board of the National Bank of Serbia voted to raise the key policy rate by 0.25 percentage points to 11.50 percent.

January 18, 2013

Hungary Wants Tax Treaty with Switzerland, Germany and Austria

Hungary tries to levy a lump sum tax on deposits of Hungarian nationals in Switzerland, Germany, Austria, the UK and Cyprus.

January 17, 2013

Croatia: Dispute with Slovenia May Postpone EU Accession

In July, Croatia should become a member country of the EU. However, the legal dispute with Slovenia is still an obstacle. The neighbor country may cause a delay of Croatia´s accession.

January 17, 2013

OeNB Does Not Bring Gold Reserves to Austria

Unlike Deutsche Bundesbank, the Austrian National Bank (OeNB) does not transfer the gold reserves from London back home.

January 17, 2013

New Governor at National Bank of Ukraine

Mr. Mykola Azarov and Mr. Sergiy Arbuzov introduce a new Governor of the National Bank of Ukraine.

January 17, 2013

Euro Exchange Rate: Nowotny Contradicts to Juncker

According to Eurogroup-chief Jean-Claude Juncker, the exchange rate of the euro is “dangerously high”. Nowotny disagrees with Juncker.

January 16, 2013

Euro Introduction: Latvian Government Hopes for Public Support

According to Latvia´s minister of Finance Andris Vilks, at least 50% of Latvian citizens should approve the euro introduction next year.

January 16, 2013

Hungary: Poverty Grows Dramatically

More than 33% of Hungary´s citizens are at risk of poverty. Among the EU countries, Hungary ranks fifth.

January 16, 2013

Nowotny: “The Worst Is Over”

OeNB´s (Austrian National Bank) governor Ewald Nowotny thinks that the economic situation in the Eurozone has become more stable.

January 16, 2013

“Strict rules and monitoring mechanisms for a healthy Europe”

Austria´s State Secretary Reinhold Lopatka discusses EU financial matters with Czech State Secretary Vojtech Belling.

January 16, 2013

Schwarzenberg Will Not Resign as Foreign Minister

The Czech presidential candidate and foreign minister Karel Schwarzenberg announced to remain in office until the second round of the elections.

January 16, 2013

Croatia: One Step Closer to the EU

According to their own statements, the Croatian government has fulfilled eight out of ten tasks, which must be finalized until July 2013. However, Croatia´s economic problems are far from being solved.

January 15, 2013

Stepic: „CESEE Region Faces Challenging Year“

RBI´s (Raiffeisen Bank International) CEO Herbert Stepic explained that central, eastern and southeastern Europe is still Europe´s growth engine.

January 15, 2013

"We invite the African Union to open an office in Vienna"

"Austria invites the African Union to establish an office in Vienna in the year marking the 50th anniversary of the African Union.” Austrian State Secretary Lopatka says.

January 15, 2013

New Elections in Slovenia?

The government crisis in Slovenia sharpens. Economists warn of a leftist coalition.

January 15, 2013

Fekter to Present Tax Reform Concept

In May, Austria´s minister of finance Maria Fekter (ÖVP) will present a new fiscal concept.

January 14, 2013

Bank Secret: Brussels Increases Pressure on Austria

EU-Commissioner Algirdas Semeta calls Austria and Luxembourg to give up their blockade against the reform of the interest taxation directive.

January 14, 2013

CESEE: Chakrabarti Expects Stabilization

In an interview with the Austrian news magazine „Standard“, EBRD´s President Suma Chakrabarti demonstrates cautious optimism. 2013 will be a better year for the CESEE region, he says.

January 14, 2013

Slovakia Wants to Strengthen Co-Operation with Austria

After a meeting between Slovak Prime Minister Robert Fico and President of Austria´s National Council Barbara Prammer, both emphasized their willingness to realize more common projects in future.

January 14, 2013

Serbia: Time Pressure Grows

In order to become an EU-member, Serbia must present some substantial progress to Brussels.

January 14, 2013

NBP Expects Further Slowdown

Poland´s National Bank (NBP) forecasts an economic growth rate of 1.5% in 2013.

January 14, 2013

Bulgaria Continues Expansive Monetary Policy

In November money supply measured by means of the aggregate M3 returned to a more accelerated growth: 10.1% on an annual basis, Raiffeisen Research states.

January 14, 2013

Surprise in Czech Republic: Schwarzenberg Just Slightly Behind Zeman

The first presidential election round in the Czech Republic brought a surprise. Zeman ranks first with 24%. Schwarzenberg came in second place with 23%.

January 14, 2013 · Updated: January 14, 2013; 11:22

Romania: Ponta Promises Return to Growth

Prime Minister Victor Ponta underlines the necessity of austerity measures. This year, Romania´s public debt level will increase further, though.

January 12, 2013

Austria: Public Debt Has Reached New High

At the end of 2012, Austria´s financial debt has totaled € 189.5bn. Against 2011, this is an increase of € 6.5bn.

January 12, 2013

Only Small Budget Deficit in Bulgaria

The cumulative balance remained at -0.1% of GDP. Bulgaria only records a minor deficit of BGN 31m, Raiffeisen Research reports.

January 12, 2013

Rostowski Wants Further Interest Cuts

Poland´s Minister of Finance calls NBP (Polish National Bank) to continue the expansive monetary policy

January 11, 2013

Labor Time: Austrians Rank Second in EU

Only employees in the UK record more weekly working hours. On average, the working time came at 41.8 hours per week in Austria.

January 10, 2013

Belka: “We are at the Bottom of the Crisis”

Governor of NBP (Polish National Bank) Marek Belka expects a soon economic recovery.

January 10, 2013

Klaus Meets Merkel

Czech President Vaclav Klaus wants to persuade Merkel to stop the integration process in the EU.

January 10, 2013

Moody´s: Slovak Austerity Plans Not Realistic

According to the U.S. rating agency, the deficit reduction plan may be too ambitious.

January 10, 2013

Fekter: „We Almost Overcame the Crisis“

Austria´s minister of finance stresses the stability of the euro and points out that the economic crisis could be managed.

January 10, 2013

Slovenia: Jansa Receives Support

Slovenian Prime Minister Janez Jansa receives support from his party SDS. The government crisis continues, though.

January 10, 2013

Serbia: Public External Debt Shrinks

In total, public debt grew by 1% in the third quarter of 2012. The debt-to-GDP ratio falls slightly.

January 10, 2013