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Stronach Founds New Party: „Historical Event“
The former CEO of the Canadian automotive group Magna has presented his new party “Team Stronach” today.
September 27, 2012
Hungary „Still Obtains Funding from the Financial Market“
Vince Szalay-Bobrovniczky, the Hungarian ambassador in Vienna, emphasized that Hungary is not dependent on the IMF loan. The IMF urges Hungary to reduce its bureaucracy, he says.
September 26, 2012
“European Union Not Endangered”
Austrian Vice-Chancellor Michael Spindelegger defends the euro at the renowned US university Harvard and emphasises Austria’s performance on the international stage
September 26, 2012
OMV Considers Joining Tanap
The Austrian oil and gas company intends to invest up to $ 7.0bn in the Turkish-Azeri project.
September 25, 2012
EU Calls Bulgaria to Intensify Fight Against Corruption
The European Union recommends Bulgaria and Romania to increase their effort regarding the fight against organized crime and corruption.
September 25, 2012
“EU administration must be screened for savings potential”
Austrian State Secretary Lopatka repeats Austria’s central demands at the General Affairs Council in Brussels.
September 25, 2012
Hutchison: Market Share of 30% until 2015
Hutchison Austria, the smallest telecommunication supplier in Austria, wants to become a hard competitor for the market leader Telekom Austria.
September 24, 2012
Waiglein Becomes Director of ESM
Austria´s Minister of Finance Maria Fekter mandates Harald Waiglein as member of the board of directors.
September 22, 2012
Serbia: „EU Cannot Force Us to Recognize Kosovo´s Independence“
The Serbian Prime Minister is ready to continue talks with Kosovo at a higher political level. For the EU, a recognition of Kosovo´s indepence is the precondition for Serbia´s EU accession.
September 22, 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
EU: Germany Biggest Net Payer, Poland Biggest Net Recipient
In 2011, Poland received EU-aids of € 11bn. Among the new EU members, Hungary ranks second. In terms of GDP, Hungary is the biggest beneficiary.
September 21, 2012
Breuss: „We Must Feed Them All“
The Austrian economist expresses his concerns regarding the second package for Greece.
September 21, 2012
VBAG to Cut More than 1,000 Jobs
Today, the Austrian problem bank announced to sharpen its austerity program radically. Until 2017, VBAG must be downsized to the half of its current size.
September 21, 2012
Austria Claims Financial Transaction Tax
State Secretary Lopatka presents Austria’s positions to EU Commissioner Lewandowski.
September 21, 2012
Austria to Pay higher Contributions to EU
In the next financial period of the EU from 2014 to 2020, Austria´s contribution will increase substantially. Austria calls for keeping the discount system.
September 20, 2012
Westerwelle and Sikorski Want a Stronger EU
The German and the Polish Ministers of Foreign Affairs wrote a common article in The International Herald Tribune.
September 19, 2012
Serbian EU Approach Endangered
The Serbian government rejects making concessions to Kosovo. The EU accession may be damaged, however.
September 19, 2012
Croatia Wants to Join the Eurozone
In July 2013, Croatia becomes the 28th member of the EU. After the accession, the Croatia should join the Eurozone too, the government says.
September 19, 2012
European Commission Approves State Aid for VBAG
The European Commission has today approved the comprehensive restructuring plan developed by Österreichische Volksbanken-AG (VBAG) in the wake of the financial and economic crisis to restore long-term profitability.
September 19, 2012
Fekter: “Spanish Banks Need € 60bn”
According to Austria´s Minister of Finance Maria Fekter, the European Union focuses on Spain. A Greek exit would be no issue anymore.
September 18, 2012
Banking Supervision: Nowotny Warns of Over-Ambition
According to the governor of OeNB (Austrian Central Bank), it would be dangerous to establish new institutions without a democratic legitimization.
September 18, 2012
Klaus: Czechs Against Banking Union
The Czech President notes that the Czech Republic cannot achieve anything without a recovery of the European economy. However, it would be advantageous to stay outside the Eurozone.
September 18, 2012
Implementation of Banking Union to be Postponed
Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.
September 17, 2012
Strong Increase in Hourly Labor Costs in Hungary and Romania
Second quarter 2012 compared with second quarter 2011: Euro area hourly labour costs rose by 1.6% and by 1.8% in EU27.
September 17, 2012
Czech Republic: EU-Subsidies to be Cut Massively
Due to EU-aid manipulation, the Czech Republic will lose at least € 1.0bn.
September 15, 2012
Austrian Banks View Savers Protection to be Endangered
The planned unification of the deposit protection is met with skepticism at Austrian banks. As the details are not clear yet, the deposit protection is yet no issue anyway.
September 15, 2012
Klaus Does Not Want European Federation
The Czech President Vaclav Klaus rejects the idea of the head of the EU-Commission José Manuel Barroso.
September 14, 2012
Austria Second-Largest Investor in Slovakia
Foreign Minister Spindelegger opens new Austrian Embassy premises in Bratislava and underlines the close economic ties between Slovakia and Austria.
September 14, 2012
Austrian Inflation Rate Below EU Average
In August, the official consumer price inflation rate increased by 2.2%. In the Euro area, annual inflation was up to 2.6%.
September 14, 2012
Banking Union: Austrian FMA Wants to Integrate Eastern European Countries
According to the board of Austria´s Financial Market Authority, not only the banks of the Eurozone should be supervised.
September 13, 2012
Nowotny: Not Overcharging ECB
Ewald Nowotny, governor of Austrian Central Bank (OeNB) argues that ECB should not control all banks.
September 13, 2012
Infringement Proceedings Against Hungary?
The Commission of the European Union is said to start infringement proceedings against Hungary because of the introduction of financial transaction taxes.
September 13, 2012
„Banking Union Must Not Become Burden for Real Economy“
The Federation of Austrian Industries (IV) underlines that the banking union must be competition-neutral. Above all, the real economy must not face liquidity constraints, IV says.
September 13, 2012
Austrian Chamber of Economics Supports ESM Decision in Germany
Austria´s Minister of Economics Reinhold Mitterlehner: “The decision of the German Constitution Court is an important signal for investments and will promote growth.”
September 12, 2012
Fekter: “Relieved to have a clear Judgement”
Austrian Finance Minister Maria Fekter delighted at decision on ESM by German constitutional judges.
September 12, 2012
Tusk: Good Prospects to Become Head of EU Commission
According to the German magazine “Der Spiegel”, the Polish Prime Minister Donald Tusk is considered as favorite candidate for the next President of the EU Commission.
September 11, 2012
Good Prospects for Orange-Takeover
The Austrian subsidiary of Hong Kong-based Hutchison will be allowed to acquire its competitor Orange, insiders say. The requirements are already fulfilled.
September 11, 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
Kapsch Against Excluding Greece
The President of the Federation of Austrian Industries (IV) thinks that the Austrian pension system shows a substantial savings potential.
September 10, 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
Euro-Crisis Enters Austria
In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.
September 10, 2012
Austerity Package: Czech Government Asks for Vote of Confidence
After the austerity package was disapproved by the Czech Parliament, the government resubmits the bill to the Chamber of Deputies.
September 10, 2012
Merkel and Faymann Reaffirm their Commitment to the Euro
The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.
September 8, 2012
Czech Republic: No VAT Increase
The governing coalition failed in seeking approval by the parliament. In order to lower the budget deficit, the government intended to lift the VAT rates.
September 7, 2012
Austria Must Underline its Headquarter Function
Austria as hub for CEE markets is still popular. Nevertheless, there is a lack in a sustainable and flexible strategy. The geographical proximity to CEE countries is insufficient.
April 2, 2012
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
Walter Grahammer Becomes the New Austrian Ambassador in Brussels
Previously, Grahammer acted as Head in the Ministry of Foreign Affairs.
November 24, 2010
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