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Austria International Political News | International | EU | Domestic
Read the latest headlines about developments in Austrian politics with reference to the international interest
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ÖVP: Privatization of ÖBB “Unrealistic”
A privatization of the Austrian Federal Railways as suggested by Finance Minister Fekter is not an option at the moment.
October 7, 2011
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Androsch „Another Three to Four Billions for Hypo Group“
The former Minister of Finance, Hannes Androsch fears a loss of Austria´s AAA-rating. “We are being observed accurately.”
October 4, 2011
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Ranking: Austria Among the Most Non-Transparent Financial Centers Worldwide
Today, the Financial Secrecy Index (FSI) of the Tax Justice Network (TJN) has been published. 73 countries have been analyzed.
October 4, 2011
Mitterlehner: „Settlement of Headquarters Key Question for Austria“
The Austrian Minister of Economics, Reinhold Mitterlehner, wants to push the development of the domestic location through improving framework requirements steadily.
October 4, 2011
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Dispute Over A-Tec´s Liquidation
After the Sale of the insolvent Austrian A-Tec has failed, the subsidiaries will be sold separately. Austrian politicians warn of the loss of jobs, technology and tax revenue.
October 3, 2011
Economic Crisis: Austrians Pessimistic
The majority of Austrians thinks that the economic crisis will persist and will become even worse.
October 1, 2011
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Public Debt Increased to 71.8% of GDP in 2010
Austrian public finance 2010: Public deficit up to 4.6%, public debt grew by 2.3 percentage points.
September 30, 2011
ÖBB with Positive Operating Result in First Half of 2011
The Austrian Federal Railways continue their restructuring program. Management expects to leave the loss zone by 2013.
September 29, 2011
Spindelegger Wants New Impetus for Nabucco
The Austrian Vice-Chancellor calls for a quick realization of the pipeline project which is stalling at the moment.
September 28, 2011
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Level of General Financial Education in Austria “Not Satisfactory”
Latest survey shows: 4 in 10 Austrians don’t even know where to start when defining term “interest”.
September 27, 2011
Metal Workers Start Autumn Bargaining Round
Salaries of 190,000 employees in the metal industry will be negotiated. Trade unions demand substantial increases.
September 22, 2011
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IMF: „NPL in Eastern Europe Decreasing“
After the announcement of the Hungarian government to convert foreign currency loans at the expense of banks, the IMF has good news for Austrian banks.
September 21, 2011
Management Rewards Rise Considerably
In 2011, Austrian managers benefit from an increase of their salaries by 4.1% on average. Most of the Austrian managers receive additional payments.
September 21, 2011
Austrian Population Forecast 2050: Growth from 8.4m to 9.4m People
The Austrian population is growing – and becomes older. In 2030, 9.0m people will live in Austria, 9.4m in 2050.
September 21, 2011
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German and Austrian Economy Claim Improvements for Company Loans
Representatives of the German and Austrian Economy fear adverse impacts for company loans from the new Basel III rules.
September 20, 2011
FPÖ Claims New Currency Area
The chairman of the Austrian Freedom Party, Heinz-Christian Strache, calls for the creation of a “core Europe” with a new currency.
September 19, 2011
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RH Warns: Alarming Increase in Public Debt
Austrian government debt is growing rapidly. From 2006 to 2010, government expenditures went up by 18.2%.
September 15, 2011
„Education at a Glance“: Austria Falls Behind
According to the study of the OECD, Austria has a slightly rising level of graduates. Nevertheless, the difference to the OECD average is still substantial.
September 13, 2011
New Difficulties for Brenner Tunnel
The project of the alpine tunnel between Austria and Italy, which is the core of a trans-European axis, faces new problems. The Italian government plans to tender the license for the highway Europe-wide.
September 12, 2011
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Austrian Minister of Science: € 1.00bn for Universities
Karlheinz Töchterle (ÖVP), announced that Austrian universities may receive € 1.00bn from 2013 to 2015 separately. However, critics already commented the plan.
September 12, 2011
Austrian Telekom: Social Democrats Warn of „Unfriendly Takeover“
For the executive director of the SPÖ, Günther Kräuter, “a new major shareholder from Egypt or Russia would be problematic.”
September 12, 2011
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Austria Considers Lawsuit Against Hungary
The Austrian Minister of Foreign Affairs, Michael Spindelegger (ÖVP) threatens Hungary to file a lawsuit at the European Court of Justice. Hungary plans to stress banks massively.
September 12, 2011
Saloon Talks in Polish Ambassy: „Europe Needs New Leadership“
In the Polish Ambassy in Vienna, the former Prime Ministers of Poland, Aleksander Kwasniewski and Austria, Wolfgang Schüssel, talked about their vision for the European Union.
September 8, 2011
Austrian Competitiveness Shrinks Further
According to a market survey of the consulting group Ernst & Young, Austria´s international competitiveness has still worsened and fell from rank 18 to 19.
September 7, 2011
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Bank Aid Package is a Loss for Austria
For the Austrian Republic, the recapitalization measures for Austrian business banks is a losing deal. Losses amount to € 237m.
September 7, 2011
CEE Economic Forum: Green Trends for Eastern Europe
In 2011, Forum Velden in Carinthia celebrates its 5th anniversary. Since its foundation in 2006, over 1.500 experts, top-managers and politicians from over 25 countries have participated in the Forum.
September 7, 2011
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IMF Puts Pressure on Austria
The IMF shows itself content with the Austrian post-crisis policies. But now, Austria has to reduce new indebtedness.
September 7, 2011
Federation of Austrian Industries: “No New Taxes!”
The debate about the introduction of property taxes in continues. The Institute of Economic Research (WIFO) approves such taxes.
September 6, 2011
Joschka Fischer: „Nabucco is in time“
The former Minister of Foreign Affairs of Germany, Joschka Fischer, is optimistic regarding the realization of the Nabucco Gas Pipeline.
September 6, 2011
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Leitl: „Austrian Economy Suffers from Lack in Skilled Labor“
According to Christoph Leitl, President of the Austrian Chamber of Commerce, 70% of all enterprises have difficulties in finding highly-skilled workers.
September 6, 2011
Green Party: Accusations against OMV
The member of the Austrian Parliament, Peter Pilz (Greens) considers bribe payments from the oil and gas company OMV to Mensdorff-Pouilly.
September 6, 2011
Ex-Chancellor Schüssel Resigns from Parliament
Wolfgang Schüssel retires from the political stage as a consequence of the market manipulation and corruption affair at Telekom Austria.
September 5, 2011
“Telekom, Post and OMV Could Be Privatized Immediately”
Karlheinz Kopf calls for privatizations in the infrastructure sector. Last year, the Austrian state earned € 244m from its shareholdings.
September 5, 2011
Property Tax : € 25.000 for Every Rich Person?
The Austrian Socialist Party (SPÖ) claims to introduce property taxes. About 80.000 people in Austria would be concerned.
September 5, 2011
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Fekter: No Nationalization of VBAG
The Austrian Finance Minister has the right to nationalize the bank if it does not pay a dividend on the state’s € 1bn of participation capital.
September 2, 2011
OMV Affected by Sanctions against Syria
The Austrian oil and gas company does not have a local production but buys 7% of its oil supplies from the Arabic country.
August 29, 2011
Frank Stronach to Apply for Casino Licenses
The Austro-Canadian founder of Magna and the German Gauselmann Group establish a company with the goal of entering the Austrian gambling market.
August 26, 2011
IHS: No Zero Deficit until 2021
The research institute calculated that Austria will not be able to achieve a balanced budget in the next ten years. Felderer calls for reforms of the pension and healthcare systems.
August 24, 2011
Industry Raises Alarm over Lack of Technicians and Apprentices
voestalpine CEO Eder and WKÖ president Leitl call for measures against the shortage of skilled personnel. They want to increase the attractiveness of technical jobs and raise the retirement age.
August 23, 2011
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Retiree Representatives Demand 2.7% Pension Increase
According to legal regulations, Austrian pension payments have to be adjusted for the previous year’s inflation. Next year the cost would be approximately € 1bn.
August 17, 2011
Fourth Applicant for Lottery Concession
The Ministry of Finance received one more application for the lottery license. Meanwhile, the guessing game on names continues.
August 11, 2011
Austria Is One of Three Euro Countries with Lowest Default Risk
Only three euro countries were found to have low default risk combined with a positive trend. The euro zone is seen in an “existential crisis”.
August 8, 2011
Three Applicants for Lottery Concession
The match for the Austrian lottery license goes into its final round. Three companies have submitted an application.
August 3, 2011
“Austria Was Boosted by EU Accession, Euro and Opening to Eastern Europe”
Bank Austria analyzed the development of Austria since the EU accession in 1995. It concluded that the economy has taken full advantage of the opportunities offered by the changes.
July 28, 2011
Lack of Reforms as a Threat for Start-Ups
The organization of young entrepreneurs demands improvement of framework conditions for start-up enterprises.
July 26, 2011
Fitch Confirms Austria’s Triple-A Rating
The U.S. rating agency confirmed the Republic of Austria’s AAA credit rating. The outlook remains “stable”.
July 25, 2011
Massive Increase in Municipalities’ Foreign Currency Debt
The amount of foreign currency debt has doubled since 2009 and surpassed € 2bn in February 2011. Swiss franc denominated loans accounted for almost 100%.
July 25, 2011
Mitterlehner with Plans for Reform of ÖIAG
The Minister of Economics intends to reposition the Austrian state holding company. Markus Beyrer, the new CEO, is currently evaluating new concepts.
July 25, 2011
voestalpine Sues EU Over Plans for Carbon Emissions
The Austrian steel company and four German competitors filed a lawsuit against the EU. They argue that CO2 emission targets are unrealistic and unachievable.
July 21, 2011
Credit Costs to Rise in the Wake of Basel III
The new regulatory requirements are expected to increase the cost of credits and to reduce the Austrian banks’ profitability.
July 20, 2011
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