Banking Package

Size of Austrian Bank Aid: € 20bn

Since 2008, the Austrian state has injected more than € 8bn into domestic banks. Guarantees total € 12bn.

February 5, 2013

Austrian Banking Package: Losses total € 1.9bn

According to Austria´s Financial State Secretary Andreas Schieder, preliminary losses of the banking package come at € 1.9bn. Further losses are expected.

December 13, 2012

EU Approves State Aid for Hypo Group

The EU Commission has no objections against the state aid with a size of € 1.5bn.

December 5, 2012

„Too Many Banks in Austria“

Hannes Androsch, President of the Austrian bank holding Fimbag, warns that Austria´s exposure in CESEE countries is disproportionately high.

November 28, 2012

Austrians Reject Further Bank Aids

About 61% of the Austrian citizens are against further bank aids by the Austrian state. Economists fear that the bank aids are lost forever.

November 28, 2012

KA Finanz: Capital Shortfall to Become Bigger

The financially stricken bank is expected to need further cash contributions.

November 24, 2012

Austria´s Budget Deficit to Decrease Slightly

Today, the Austrian National Assembly has resolved the budget for 2013. This year, Austria will not fulfill the Maastricht Criteria.

November 16, 2012

Moody´s Downgrades Austrian VBAG

The U.S. rating agency underlines that the Austrian state will help the financially stricken bank further.

November 3, 2012

„Strengthening Relation with Russia“

Christoph Leitl, President of the Austrian Chamber of Commerce (WKO) argues that Europe must co-operate closer with Russia in order to manage the crisis.

October 25, 2012

FMA: „Austria is Open to Blackmail by Banks”

Kurt Pribil, director of the Austrian Financial Market Authority, thinks that the nationalization of banks has shown that the Austrian state is still under pressure.

October 23, 2012

Austrian Budget: Experts Call for Further Reforms (Part 1)

Today, the Austrian Finance Minister Fekter presented the 2013 Budget to Austrian National Assembly. The reactions were highly controversial.

October 16, 2012

Austrian Audit Court Criticizes Nationalization of Kommunalkredit

According to the Austrian Audit Court, the former owner of Kommunalkredit VBAG would have survived without the nationalization.

October 15, 2012

Austria to Violate Maastricht Criteria in 2012

This year, the Austria budget deficit will not be below the 3.0% threshold. This is mainly due to the banking package.

October 15, 2012

Austrian Budget Targets Will Not Hold

In August, Finance Minister Maria Fekter underlined that the budget deficit will not exceed 2.9% of GDP. Due to the banking package, the budget deficit will be higher, though.

October 1, 2012

Banking Package: Austrian Opposition Criticizes Government Sharply

Today, the Austrian Audit Court explained that costs may reach up to € 4.8bn.

September 26, 2012
Fast News Search