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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
Bulgaria: Massive Penalty at OMV Subsidiary Threatens
Bulgaria´s Minister of Transport claims the maximum penalty for OMV´s subsidiary, which would reach up to € 1.0bn.
March 24, 2012
Rothensteiner Against Bank Insolvencies
Raiffeisen Zentralbank´s CEO Walter Rothensteiner is against the discussion about bank insolvencies.
March 24, 2012
RBI: Günther Gall Appointed Vice-Chairman of EPC
The Austrian national Günther Gall of Raiffeisen Bank International AG (RBI) was elected vice president of the European Payments Council (EPC).
March 23, 2012
Voestalpine to Invest € 500m at Main Site
The Austrian steel company builds a new strand casting house. Voestalpine warns of excessive greenhouse gas regulations.
March 22, 2012
Nowotny: “Portugal in Much Better Shape Than Greece”
The Governor of the Austrian Central Bank (OeNB) and ECB Council Member Ewald Nowotny is optimistic on Portugal´s medium-term prospects. The country faces much less liquidity constraints than Greece.
March 21, 2012
Meeting between Saudi Monarchy and Austrian Embassy
The Austrian ambassador presented Investment opportunities to Saudia Arabia´s Prince Alwaleed.
March 20, 2012
Romanian President Again Critisized OMV´s Petrom
Romanian president Traian Basescu in television again emphasized that he cut ties with largest Romanian company OMV Petrom on ‘incorrect’, high profit-making policy.
March 20, 2012
Telekom Austria: Pecik Denies Sales Talks
The Austrian investor Ronny Pecik is said to have had sales talks with China Mobile. Pecik reaffirms to remain at Telekom Austria as “long-term investor”.
March 19, 2012
Austria Underlines South Tyrol´s Autonomy
Austrian State Secretary Wolfgang Waldner on working visit in South Tyrol. Austria suggests an “Alpine Strategy”.
March 19, 2012
“The Czech Republic Has Traditionally Been an Important Partner for Austria”
Austrian State Secretary Waldner meets Czech EU State Secretary Belling.
March 19, 2012
Tax Agreement with Switzerland May Be Postponed
The plans of the Austrian government to conclude a tax agreement with Switzerland soon is unlikely. For the budget, this could cause a loss of revenues.
March 17, 2012
Austrian Government Holds on Financial Transaction Tax
In spite of discordance at the EU-level, the Austrian government is convinced to impose taxes on financial transactions by 2014.
March 17, 2012
Bulgaria Suspects OMV, Lukoil, Rompetrol of Price Fixing
Bulgaria’s antitrust regulator said four fuel retailers including the Bulgarian units of OMV AG of Austria, OAO Lukoil , Russian oil producer, Rompetrol Rafinare SA and Petrol AD are suspected of being involved in price fixing.
March 17, 2012
Corruption: Costs of € 27bn for Austrian Economy
Experts say that corruption increases in Austria. In 2012, adverse effects of € 27bn are expected.
March 16, 2012
Doubt About Austerity Package
Austria´s Finance Minister Fekter had to defend the government´s austerity package again. Experts are in doubt about the successful implementation.
March 15, 2012
Press Freedom under Threat in Austria
IPI Alarmed at Justice Ministry Attempt to Undermine Confidentiality of Sources.
March 14, 2012
No Credit Crunch in CEE
Western European banks maintain the liquidity of their subsidiaries in Central and Eastern Europe. The equity provision is better than expected.
March 14, 2012
Austria Is Concerned About UK´s Human Rights Reform
UK´s Prime Minister David Cameron intends to reform the European Court of Human Rights. Austria said it had “serious concerns” about his ideas.
March 14, 2012
Austrian Supervisory Authority Published Guideline For Banks
The Austrian Financial Market Authority (FMA) has published a supervisory guideline to strengthen the sustainability of the business models of large internationally active Austrian banks.
March 14, 2012
Basescu Criticizes OMV Sharply
The Romanian President Traian Basescu is deeply disappointed of the Austrian oil and gas company OMV. The Romanian subsidiary “made too much profits”, Basescu says.
March 13, 2012
Austria Wants More Leeway for Hungarian Budget
The Austrian Minister of Finance Maria Fekter criticizes the EU. Hungary is not treated equally, Fekter says.
March 13, 2012
KA Finanz: Disaster Was Avoidable
The „bad bank“ of the nationalized bank Kommunalkredit considered selling Greek sovereign bonds in spring 2009. Last week, KA Finanz wrote off € 423m.
March 12, 2012
Nowotny: Capital Shortfall at Hypo Group „Substantially Less Than € 10bn”
The governor of the Austrian Central Bank (OeNB) repulses reports stating that the nationalized bank Hypo Group needs capital injections of € 10bn.
March 10, 2012
Hypo Group: Costs Could Increase up to € 10bn
The nationalized Hypo Group Alpe Adria may need massive capital injections by the Austrian state. The bank must downsize radically.
March 10, 2012
Wirtschaftsbund: Leitl Re-Elected
Christoph Leitl, President of the Austrian Chamber of Commerce, has been re-elected as chairman of Wirtschaftsbund. 92.7% of the delegates voted for Leitl.
March 10, 2012
„The Public Sector Does not Get Enough“
Klaus Pöttinger, President of Upper Austria´s IV takes Switzerland as model. Taxes would be too high, efficiency of the public sector is too low, he says.
March 9, 2012
Leitl: „Austerity Package Is Not Enough“
For Christoph Leitl, the President of the Austrian Chamber of Commerce (WKÖ), the recently resolved austerity package does not contain the essential reforms.
March 9, 2012
Cernko Criticizes VBAG Bail-Out
Willibald Cernko, CEO of Bank Austria considers that the Austrian state reacted too late. A partly nationalization could have taken place already one year before.
March 9, 2012
Foreign Direct Investment in Austria Increasing
In 2011, a moderate decline in new enterprise settlements was registered. Investments grew by 34%.
March 8, 2012
EBA Does Not Accept Participation Capital as Equity
Austrian banks face new difficulties. The European Banking Authorities does not approve participation capital by the Austrian state as Tier-1 Equity Capital.
March 8, 2012
Bank Insolvency Act to be Finished by Summer 2012
According to the government´s plans, the Austrian financial market authority (FMA) should obtain more competences.
March 7, 2012
Bank Taxes: Nowotny Supports Government
OeNB´s governor Ewald Nowotny defends the coalition plans to raise bank taxes by 25%.
March 7, 2012
Tax Treaty: Conflict with EU
The EU rejects Austrian tax treaty plans with Switzerland. Austria insists on the bilateral agreement.
March 7, 2012
Public Debt Agency: “Unnecessary to Change Bonds Issuance Plans”
Austria sees no need to change its debt issuance program and is sticking to its plan to stay below the European Union’s deficit ceiling this year even as it injects cash into Oesterreichische Volksbanken AG (VBPS) and KA Finanz.
March 6, 2012
Banks May Face Strikes
The trade union of bank employees calls for a 4.9% salary increase. Employers reject this claim.
March 6, 2012
Taxation of Pension Funds: One-Time Effect of € 900m
In order to restructure the financially stricken VBAG, the Austrian government anticipates taxes on pension funds. As a result, € 75m will lack in future.
March 6, 2012
Fekter: "Eurogroup Chief Must Be Head of Government"
Austria’s Finance Minister Maria Fekter said the next leader of the group of euro-area finance ministers has to be a head of his or her government in order to have the necessary authority.
March 6, 2012
EU ‘Surprised’ Austria Didn’t Warn on VBAG, Almunia Says
The European Commission was “surprised” Austria didn’t warn it about plans to bail out Oesterreichische Volksbanken AG (VBPS), according to Joaquin Almunia, the region’s commissioner responsible for approving state aid.
March 5, 2012
Eder: „Environmental Policy Endangers Economy“
Voestalpine´s CEO criticizes environmental specifications made by EU and domestic politics. Eder sees the danger of a de-industrialization.
March 5, 2012
Austerity Package: Sorger Misses Reforms
The President of the Federation of Austrian Industries (IV), Veit Sorger, sees a massive lack in structural reforms. The austerity package is a “missed opportunity”.
March 3, 2012
Fekter: Up to € 1.0bn for Kommunalkredit
In case of a default of Greek sovereign bonds, the Austrian state would have to grant € 1.0bn to the nationalized bank Kommunalkredit.
March 3, 2012
Nabucco: Costs Could Grow Further
The pipeline consortium Nabucco checks whether the project becomes more expensive than expected. Costs of € 15bn are forecasted.
March 3, 2012
Fiscal Treaty: Austrian Economy Satisfied, Opposition Criticizes
After the signing of the EU fiscal treaty at the EU Summit today, reactions in Austria are very different. The largest opposition party FPÖ calls for a popular vote.
March 2, 2012
Austrian Economy Appreciates Serbian Approach to EU
Serbia officially became candidate for the EU-access. Christoph Leitl, President of the Austrian Chamber of Commerce, emphasized the importance of the “European perspective” for Serbia.
March 2, 2012
Andritz: Controversial Projects in Brazil and Turkey Are Going According to Plans
The Austrian machine manufacturer Andritz participates in the construction of two major hydro power plants in Turkey and Brazil.
March 2, 2012
Austerity Package Threatens to Fail
The strict timeline of the Austrian austerity package could cause its preliminary failure. Federal President Fischer says not to have enough time to control the act.
March 2, 2012
Nowotny: „Austrian Banking Activities in CEE Better than their Reputation”
According to the governor of the Austrian Central Bank (OeNB), Ewald Nowotny, Austrian banks engaged in Central and Eastern Europe are more stable than they are supposed to be.
March 1, 2012
Rise in Austrian Unemployment Rate
At the end of February, 380,000 persons were unemployed. This is a rise of 5.2%. At the EU level, Austria´s unemployment rate is still the lowest.
March 1, 2012
VBAG´s Rescue Endangers Austerity Targets
In 2012, savings should reach € 576m. However, only write-offs in VBAG cost € 700m. The Austrian government seeks for additional revenues.
February 29, 2012
Banking Industry As „Cash Cow“?
For RZB´s CEO Rothensteiner, the increase in bank tax is “not fair”. The government plans to raise bank taxes by 25%.
February 29, 2012
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