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Austerity
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Aiginger: „Feeding Banks Makes No Sense“
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The director of WIFO (Austrian Institute of Economic Research) thinks that Spanish banks must be able to become insolvent.
July 24, 2012
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Europe Hinders Austrian Economy
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Due to the European economic weakness, Austria almost stagnates. Slight corrections in austerity programmes, weaker euro and lower oil prices indicate an economic stabilisation in late 2012 though.
July 17, 2012
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„No Austerity Measures in the Czech Republic“
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The Vienna Institute for International Studies underlines that the Czech Republic´s financial situation is very stable at the moment. Austerity policies would not be required.
July 11, 2012
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Nowotny on Greece: „We Do Not Have Unlimited Time“
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Ewald Nowotny, the governor of OeNB (Austrian Central Bank) is concerned about the Greek austerity program.
July 9, 2012
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Growth in CESEE Region Flattens Further
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The Vienna Institute for International Economic Studies (WIIW) lowers ist forecast for the CESEE region.
July 6, 2012
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IMF: Austria Has Favorable Economic Fundamentals
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IMF in Washington DC analyzes Austrian macroeconomic outlook and is satisfied with the consolidation path.
July 4, 2012
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Austrian Airlines: Operated by Tyrolean
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The transfer of undertakings is completed. About 2,000 AUA staff members shifted to the regional airline Tyrolean.
July 3, 2012
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Massive Austerity Cuts at Porr
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The third-biggest Austrian construction company examines its cost structure. First effects should be visible still in 2012.
July 2, 2012
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„Austria Is Well Situated, but Needs Reforms Urgently“
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Austria´s economic perspectives are slightly positive. The Austrian Chamber of Commerce reaffirmed its call for regional economic reforms.
June 30, 2012
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WIFO Wants Unlimited Firewall
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According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.
June 28, 2012
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Controversy About Nowotny
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Ewald Nowotny, the governor Austrian Central Bank (OeNB) argued that the austerity policy in the 1930s caused the rise of the Nazi regime. A wave of indignation emerged.
June 21, 2012
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„Austria Is Threatened by a National Bankruptcy“
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The Austrian economist Eva Pichler warns of the ESM and appeals on the Austrian Parliament not to ratify the „recue package“.
June 20, 2012
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Fitch: Austria´s AAA Not Endangered
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According to the U.S. rating agency, Austria´s creditworthiness remains at a high level. Nevertheless, reforms would be needed.
June 19, 2012
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„Austria Must Not Become Mediocre“
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The Austrian Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) call for an acceleration of reforms as the Austrian position in competitive rankings deteriorates.
June 18, 2012
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Austria Stresses Balance Between Growth and Austerity
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At the negotiations on the EU financial plan 2014 – 2020 in Denmark, Austria proposes to establish a growth fund accessible to SMEs.
June 13, 2012
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Austerity: „There is No Alternative“
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The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.
June 12, 2012
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EU-Crisis: Austrian Government Underlines Necessity of „Solidarity“
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The Austrian State Secretary Wolfgang Waldner calls for a centralization of economic and financial policies.
June 8, 2012
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IV: „Budget Consolidation Supports Economic Growth“
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The Federation of Austrian Industries pushes for structural reforms in order to cut public expenses.
June 8, 2012
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AUA: Leaving Pilots Cost € 55m
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Because of the austerity package, 118 pilots left Austrian Airlines. CEO Jaan Albrecht wants to bring them back.
June 5, 2012
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Different Economic Dynamics Among Austrian Provinces
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In 2011, Styria achieved the highest economic growth rate among the nine Austrian provinces. This year, Upper Austria is expected to lead the ranking.
June 4, 2012
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341 Staff Members Leave AUA
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CEO Albrecht underlines that further austerity packages are not excluded. Now, Austrian Airlines faces new challenges.
June 4, 2012
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Trade Unions Wants „Just Taxation“
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The Austrian Trade Unions warn of a strict austerity policy and pushes for growth stimulating measures.
June 2, 2012
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EU Calls on Austria to Accelerate Reforms
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Austria has to put more effort in reforms. In the fields of education, labor market, retirement plan and budget consolidation, Austria shows deficits.
June 1, 2012
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Austrian Industry: „Growth Instead of Redistribution“
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After the Austrian Chamber of Labor claimed he Federation of Austrian Industry underlines that Austria has the highest redistribution quota among OECD members.
May 30, 2012
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Exposure in Eastern Europe Remains Austria´s Weak Point
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The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.
May 30, 2012
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"Europe Needs Economic Growth and Budget Discipline“
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Structural reforms are necessary to make Europe sustainably more competitive, Christoph Leitl, President of Austria´s Chamber of Commerce (WKO) says.
May 26, 2012
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Austrian Chamber of Economics Claims Growth Package
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Christoph Leitl, President of the Austrian Chamber of Commerce thinks that Austria and Europe would both need growth and austerity measures.
May 25, 2012
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Austrian Economy: OeNB Demonstrates Optimism
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The Austrian Central Bank is satisfied with the performance of the domestic economy underlines the necessity of austerity measures.
May 24, 2012
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Austrian Industrial Sector Pushes for Austerity
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The Federation of Austrian Industries sees still a huge potential to reduce public expenses and underlines the importance of the industrial sector.
May 22, 2012
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Austrian Health Insurance Funds Achieved Surplus
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For the first time, all nine Austrian health insurance funds recorded positive result. In total, a surplus of € 291m was achieved.
May 19, 2012
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AUA Dispute Brought Before Supreme Court
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The Austrian trade union vida intends to prevent the transfer of undertakings. Thus, the dispute will not be settled soon.
May 19, 2012
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Sorger Underlines Austrian Crisis Management
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The President of the Federation of Austrian Industries Veit Sorger reaffirms the necessity of austerity and investments of the private sector.
May 19, 2012
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Androsch Criticizes Political Inactivity
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The former Austrian Finance Minister and industrialist Hannes Androsch thinks that both austerity and growth strategies are needed and criticizes the government sharply.
May 18, 2012
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AUA: Leaving Pilots May Cost up to € 80m
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The transfer of undertakings at Austrian Airlines is irrevocable, the management points out. In case of a lack in pilots, Lufthansa and Swiss would close the gap.
May 11, 2012
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Austrian Stability Pact Signed
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The Austrian Federation, the provinces and the municipalities agreed on the stability pact. Until 2016, a zero deficit should be reached.
May 10, 2012
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Stable Development of Austrian Economy
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The Austrian Institute of Economic Research (WIFO) forecasts a decent, but stable economic growth in 2012.
May 10, 2012
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IHS: Austerity Package Smaller than Expected
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The Austrian Institute of Advanced Studies (IHS) considers the austerity package to be effective. Proceeds will be smaller than expected, though.
May 9, 2012
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Dispute at AUA Goes On
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After the management of Austrian Airlines refused to start new negotiations, the works council wants a vote on the transfer of undertakings.
May 9, 2012
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AUA: Last Chance for Workforce
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Austrian Airline´s works council tries to prevent the already resolved transfer of undertakings to Tyrolean. AUA´s management does not want to re-negotiate again.
May 7, 2012
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Leitl: „EU Needs Budget Consolidation and Growth Measures“
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The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.
May 5, 2012
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Albrecht Wants Common Collective Agreement
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After the transfer of undertakings, the CEO of Austrian Airlines aims to create a collective agreement for the whole workforce. Further cuts are not excluded.
May 4, 2012
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AUA: Transfer of Undertakings Definite
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The re-started negotiations between AUA´s management and the aircrew have finally failed. A mass exodus of pilots is feared.
May 1, 2012
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AUA´s Workforce May Decide Against New Collective Agreement
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After months of heated debates, the works council and the management agreed on a new collective agreement. The aircrew must approve the agreement.
April 28, 2012
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AUA: Aircrew Wants to Negotiate
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The planned transfer of undertakings will be costly. AUA´s workforce wants to negotiate with the management, strikes are not considered yet.
April 23, 2012
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RHI to Cut Costs
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The Vienna-listed manufacturer of fire-proof products starts a cost-cutting program. CEO Struzl pushes for more efficiency.
April 20, 2012
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Triple-A Will Not Return Soon
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The U.S. rating agency S&P dashes hopes that Austria may get back its “AAA” soon. Austrian banks may still face risks as the crisis is over yet, S&P says.
April 20, 2012
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AUA Resolves Transfer of Undertakings
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The supervisory board of Austrian Airlines decided to switch to cheaper collective agreements. The transfer of undertakings is “crucial for AUA´s survival”.
April 20, 2012
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Felderer: „Another Downgrade Less Probable“
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The Austrian economist Bernhard Felderer thinks that the risk of another downgrade of Austrian sovereign bonds has decreased.
April 18, 2012
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Austrian Industry Underlines Austerity Policy
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After the rating agency Fitch retained Austria´s triple A, the Austrian industry sees a confirmation of the need for austerity. Finance Minister Fekter emphasized to push for further reforms.
April 17, 2012
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Swiss-Austrian Tax Treaty to be Signed
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The tax treaty between Austria and Switzerland will be signed tomorrow on Friday. The tax rate is set at 38%.
April 12, 2012