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Slovenia in Austria | Slovenes in Vienna | Bilateral Relations

EBRD: CESEE Countries Must Improve Legal Security

The European Bank for Reconstruction and Development underlines that banks need more stable legal systems in Eastern Europe.

November 24, 2012

Slovenian NKBM in Difficulties

The second-biggest Slovenian Nova Kreditna Banka Maribor (NKBM) bank suffers from its risky assets. The NPL quota is still on the rise.

November 22, 2012

Zavarovalnica Maribor Sale: Slovenia Under Pressure

The Slovenian bank NKBM has to sell its stake in the second-biggest Slovenian insurance company Zavarovalnica Maribor (ZM). The sale proves difficult.

November 21, 2012

Slovenia to Sharpen Austerity Measures

The Slovenian Prime Minister Janez Jansa announced that the austerity policy will be implemented even more consequently.

November 20, 2012

Hypo Group: Cash Contributions Come at € 500m

The Austrian state has to inject another € 500m in the financially stricken nationalized bank. Furthermore, guarantees will increase by € 1.0bn.

November 14, 2012

CESEE: Lending Shrinks

Foreign banks reduce lending in Central, Eastern and Southeastern Europe. Hungary and Southeastern Europe are most affected.

November 12, 2012

Slovenia Still Rules Out Calling for Rescue

The Slovenian government tries to prevent to be bailed out by the EU and IMF by all means. However, experts fear that Slovenia is the next candidate for the safety net.

November 10, 2012

Slovenia and Austria to Deepen Co-Operation

The Slovenian Minister of Economics Radovan Zerjav and the President of the Austrian Chamber of Commerce Christoph Leitl want to intensifiy the economic co-operation.

November 8, 2012

Slovenia: Creation of Bad Bank Should Solve Credit Crunch

At the moment, the Slovenian banking sector does not fulfill its main task. The real industry suffers from a credit crunch.

November 6, 2012

Hypo Group Starts Selling Business in SEE

The nationalized Austrian banking group has to downsize drastically. Today, Hypo Group started to put the subsidiaries in Southeastern Europe for sale.

November 6, 2012

South Stream Pipeline: Gazprom Concludes Contract with Hungary

The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.

November 2, 2012

Purchasing Power: Austria Ranks 6

Regarding the purchasing power per head, Austria is significantly above the European average of € 12,802.

October 31, 2012

Slovenia: Foundation of Bad Bank Proves Difficult

After the approval of the Slovenian Parliament, the government faces a public vote on the creation of a bad bank and an industrial holding group.

October 24, 2012

RBI Cuts Slovenian Subsidiary Radically

The Austrian Raiffeisen Bank International plans to lay off the half of its workforce in Slovania.

October 16, 2012

Grawe Bids for Zavarovalnica Maribor

The Austrian insurance group wants to take over the Slovenian insurer Zavarovalnica Maribor (ZM). ZM´s management prefers Slovenian bidders.

October 10, 2012

Slovenia Resolves Financial Transaction Tax

The Slovenian government wants to introduce a 6.5% tax on securities trading. The financial industry criticizes the government massively.

October 9, 2012

Slovenia: Second-Largest Insurance Group to be Sold

The Austrian Uniqa Group and Grazer Wechselseitige Versicherung (Grawe) are interested in Zavarovalnica Maribor (ZM):

October 8, 2012

Slovenia to Sharpen Austerity Measures

The Slovenian centre-right government announces new austerity cuts. The budget deficit should be lowered to 3.0% of GDP.

October 5, 2012

CEE Countries Must Work Upon Economic Convergence

CEE countries are struggling with weaker external demand and uncertain consumers, whereas in most cases fiscal policy is under control. Labour productivity, costs and competitiveness of CEE region give reason for optimism.

October 5, 2012

Austria: Fixed Costs Come at 55% of Household Income

In Eastern Europe, the share of fixed costs is even higher. Romanian households spend 76% of their income on fixed costs.

October 4, 2012

Slovenian Parliament Approves Creation of Bad Bank

The Slovenian state creates a bad bank in order to restructure the financially stricken banking sector.

October 4, 2012

Nine Prime Minister Discuss EU Budget in Bratislava

The Prime Ministers of nine countries of Central and Eastern Europe will meet in the Slovak capital on October 5.

October 3, 2012

IMF Puts Pressure on Slovenia

Slovenia is urged to implement quick reforms. Otherwise the country may have to be bailed out by the safety net.

October 3, 2012

RBI: Poland Shows Stability

In Poland, Raiffeisen Bank International´s NPL ratio comes at 8%. By contrast, Ukraine and Poland are much more problematic.

October 1, 2012

Slovenian Recession Aggravates

In 2012, the Slovenian economy is expected to shrink by 1.8%. Next year, Slovenia will not have reached the growth zone.

October 1, 2012

Raiffeisen: CEE Network to be Closed

Austrian RBI (Raiffeisen Bank International) announces that the expansion in Central and Eastern Europe will be concluded soon.

October 1, 2012

CEE Remains Europe’s Growth engine Despite Slow-Down

CEE with 2012 GDP growth of 2.4 per cent – GDP in Eurozone to shrink to minus 0.5 per cent in 2012 . In terms of reforms, CEE tops Eurozone peripherals

September 28, 2012

Slovenia “No Bail-Out Candidate”

Slovenia ´s former Prime Minister Anton Rop is optimistic that the country will manage the crisis.

September 27, 2012

Strabag: Major Order in Slovenia

The Austrian construction company will build Europe’s most modern waste treatment plant in Ljubljana. The contract value amounts to € 112m.

September 27, 2012

Crucial Days for Slovenia

This week, Slovenia´s Parliament may decide on establishing a bad bank. After Prime Minister Janez Jansa warned of a national bankruptcy, the Slovenian opposition is under pressure.

September 26, 2012

Croatian EU-Accession: Slovenia as Obstacle

Slovenia may put a veto on Croatia´s EU accession. Croatia should withdraw lawsuits against the biggest Slovenian bank NLB, Slovenia says.

September 22, 2012

Slovenia Creates Bad Bank

The Slovenian government aims to lower risky assets of the financially stricken banking sector. A major capital increase may be necessary.

September 21, 2012

„Situation in Slovenia is not so Dramatic“

Ewald Nowotny, governor of Austria´s Central Bank (OeNB) thinks that the economic situation in Slovenia is under control.

September 18, 2012

Slovenia´s ESM Contribution to Reach € 137m

Until the end of October, Slovenia has to pay € 137m to the European Stability Mechanism.

September 15, 2012

Croatia´s Fight Against the Recession: More Austerity and Increase in Exports

According to Paul Krugman, the development of Croatia´s economy depends on the performance of the export-oriented industry.

September 14, 2012

Slovenia: Guarantees to Reach € 4.0bn

As Slovenian banks suffer massively from non-performing loans, Slovenia´s Minister of Finance Janez Sustersic will provide guarantees for domestic banks of € 4.0bn.

September 14, 2012

Kuwait Petroleum Interested in Croatian and Bosnian OMV Stations

OMV sells 91 petrol stations in Croatia and Bosnia. After the Croatian INA has announced to have submitted a binding offer, Kwait Petroleum shows interest.

September 14, 2012

Slovenian Construction Industry Reaches New Low

Since 2008, Slovenia´s construction output decreased by 66%. This year, the construction industry will shrink again.

September 13, 2012

Slovenian Crisis: Opposition Reassures

Recently, Prime Minister Janez Jansa warned of a national bankruptcy. For the opposition, Slovenia is far from declaring its illiquidity.

September 11, 2012

„I´m Concerned About the Atmosphere in Southeastern Europe“

In an interview with the Austrian newspaper “Presse”, the Croatian Minister of Foreign Affairs Vesna Pusic explains that Croatia still aims to become a member of the Eurozone. The Maastricht Criteria would not be fulfilled yet, she says.

September 11, 2012

Slovenia: Juncker Calls for Reforms

The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”

September 10, 2012

Investigation of Non-Performing Loans

The Slovenian public prosecutor´s office investigates the level of non-performing loans at the two biggest banks NLB and NKBM.

September 8, 2012

Hypo Group´s Capital Shortfall at € 2.2bn

Today, the Austrian Financial Market Authority (FMA) announced its new estimation regarding the nationalized banking group. Insiders fear that Hypo Group needs even more money.

September 6, 2012

Slovenia: „Irish or Greek Way“

The Slovenian economist Egon Zakrajsek explains that Slovenia´s illiquidity only a question of time. The problem banks should be sold, he recommends.

September 5, 2012

Slovenia „No Problem for Austrian Banks“

Although Austria is the biggest investor in Slovenia, the Austrian banking industry does not fear a national bankruptcy.

September 5, 2012

Slovenia: “Danger for Austrian Banks is Limited”

Although Austria would be most affected by a Slovenian national bankruptcy, the likeliness of this scenario is rather low, analysts say.

September 3, 2012

Further Increase in Unemployment

At the end of August 2012, 289,000 persons were looking for a job in Austria. At the same time, employment still grows.

September 3, 2012

Slovenian Bankruptcy Would Hit Austria Particularly Hard

Prime Minister Janez Jansa announced that Slovenia may have to declare its national bankruptcy in October. Austria´s share in foreign direct investment made in Slovenia reaches about 50%.

September 3, 2012

Slovenia in a Vicious Circle

Slovenia´s Prime Minister Janez Jansa warns that his country may has to announce its national bankruptcy in October.

August 31, 2012

Austrian Guarantees Total € 80bn

In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.

August 27, 2012