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“Polish Economy at Crossroads“
In an interview with Austrian daily “WirtschaftsBlatt“, Ryszard Petru, chairman of the Society of Policy Economists, sees high chances for the Polish economy; however, only if the country knows how to support innovation.
February 21, 2014
Fitch Keeps Rating for Austria at High Level
According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.
February 21, 2014
Bulgarians Pessimistic about Own Future
More than 90 percent of Bulgarian citizens deem the country to be in an economically bad situation.
February 20, 2014
EU Commission to Examine Slovenian Bank Restructuring Plan
Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.
February 20, 2014
Zeman: Entry in Eurozone Delayed
In a speech to the Lower House ahead of the vote in confidence for the new government Czech President Milos Zeman expressed his dissatisfaction over the latest monetary intervention by the Czech National Bank (CNB).
February 19, 2014
Czech Republic: New Government Passed Vote of Confidence
The new Czech government under Prime Minister Bohuslav Sobotka has passed the vote of confidence in parliament yesterday.
February 19, 2014
Hypo Bankruptcy Could Severly Harm BayernLB
Rating agency Moody’s sees German BayernLB impacted by the critical capital situation in the coming years.
February 18, 2014
Spindelegger Positive about Creation of Financial Transaction Tax
In the run-up to the beginning of the ECOFIN Council in Brussels, negotiations about the further proceeding of the financial transaction tax were held among eleven EU finance ministers.
February 18, 2014
Nowotny: Negative Interest Rate Conveys Feeling of Crisis
Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.
February 18, 2014
Czech Republic: Government Asks for Vote of Confidence
The new Czech government was appointed at the End of January. On Tuesday Prime Minister Bohuslav Sobotka and his cabinet will ask for a vote of confidence in parliament.
February 18, 2014
Romania: Fit for Eurozone?
According to estimates by the Romanian government, the country is fit for joining the single currency union.
February 17, 2014
Austria: Economic Upturn Still in Standby-Mode
According to the analysis of the economic indicator of Bank Austria, there is moderate growth and hope for the first quarter in 2014.
February 17, 2014
Slovenia: Heading for Recovery
Slovenia seems to have circumnavigated the crisis as the small country is not a Eurozone bail-out candidate anymore, according to Prime Minister Bratusek.
February 17, 2014
Serbia: Fast Implementations of Reforms Crucial
Tanja Miscevic, chief negotiator in the EU accession talks, announced on Sunday that elections in Serbia are not slowing down the process in European integration.
February 17, 2014
Government Downplaying Effects of Hypo Group Desaster
Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.
February 17, 2014
EU Puts Limit to State Aids for Hypo Group
So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.
February 14, 2014
Serbia: FDI of Great Importance for Economy
According to Deputy Prime Minister Vucic, the country’s biggest problem was the rate debt rate and fiscal deficit.
February 14, 2014
Serbia: FDI for Sustainable Growth
Serbia needs FDI in the amount of € 2bn at least to stimulate sustainable growth, according to experts.
February 12, 2014
Cernko: Wealthy to Support R&D in Austria
The CEO of Bank Austria calls upon the Austrian government to take into consideration the funding of research and development by wealthy individuals and regard this as part of their “tax duty”.
February 12, 2014
Hypo Group: Bad Bank Active at Least 10 Years
Austria’s rating by Standard & Poor’s (“AA+”, stable outlook) is currently not compromised. Because of the establishing of the bad bank the debt rate will rise four to six percent.
February 12, 2014
Austria: Hypo Group Becomes Fiasco for Taxpayers
The most expensive solution for the winding up of troubled Hypo Group becomes imminent.
February 11, 2014
Spindelegger Insists on Austrian Bank Secret
On Friday the Finance Ministry confirmed to the Austrian Press Agency (APA) that there is “momentum in the field” in regard to disclosure of information about bank accounts of foreigners.
February 10, 2014
“We Want to Return to the Mainstream”
The new Czech Prime Minister Bohuslav Sobotka announced that the country will become a member of the EU Fiscal Pact.
February 7, 2014
Romania Reaches Agreement With IMF
Romania has met the criteria to receive a stand-by agreement by the International Monetary Fund.
February 5, 2014
Criticism of Croatia´s Fiscal Policy
Next year, Croatia´s government wants to comply with the EU fiscal rules. According to economists, this aim is not realistic.
February 4, 2014
Croatia: Monetary Interventions to Stabilize Kuna
On Friday the Croatian national bank sold € 240.2m to commercial banks.
January 31, 2014
Hungary: Stable Economy, Weak Currency
According to Prime Minister Orban the volatility of the Hungarian Forint is based on global factors.
January 31, 2014
Austrian Industrial Sector only Sees Weak Recovery
The Federation of Austrian Industries (IV) warns about a fragile economic recovery.
January 30, 2014
Serbia: EU Enthousiasm Kept in Limits
A survey among Serbian citizens about an EU membership reveals weak support.
January 30, 2014
WKO Rejects Further Financial Burdens for Banks
According to the Austrian Chamber of Commerce (WKO), the financial burdens of banking institutes in Austria are significantly higher than those of their competitors in other EU member states.
January 29, 2014
Euro-Introduction: Cutting Debts Precondition for Poland
Finance Minister Mateusz Szczurek stressed that cutting debts was a key condition for Poland before it could be admitted to the single currency union.
January 29, 2014
Austria: Opposition Presses for Information
The Austrian Greens demand information in regard to problem bank Hypo Group Alpe Adria.
January 28, 2014
“Croatia Going through Very Difficult Period“
The World Bank calls for structural reforms in the Western Balkan state.
January 27, 2014
Restrained Optimism in Polish Financial Market
According to Finance Minister Szczurek, the Polish Financial Market will have to face another challenging year.
January 27, 2014
Croatia: S&P Downgrades Rating
Standard&Poors; has downgraded Croatia’s rating to “BB”. The outloock on the long-term rating for the country is at least “stable”.
January 24, 2014
CEE: Economic Sentiment at Lowest Level
ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE at lowest level.
January 24, 2014
Austria: Debt Rate Rises Unstoppably
In the third quarter last year the Austrian public debt rate increased significantly compared to the previous quarter.
January 22, 2014
Croatia Supports Albania in EU Accession Course
Albania hopes that EU Accession Negotiations will take place in June 2014.
January 22, 2014
Prices for Houses in EU Dropped Slightly
1.5 percent decrease of house prices in European Union.
January 22, 2014
Serbia: "Kosovo Part of Whole Package"
Serbia hopes to join the union until the year 2020. The solving of the issue with Kosovo remains a key condition. Austrian Foreign Minister Kurz stresses the importance of the region becoming a part of the European Union.
January 21, 2014
Spindelegger Met Almunia: „Bank Aids Were No Issue“
Today, Austrian Minister of Finance Michael Spindelegger has met Commissioner for competition Joaquin Almunia.
January 20, 2014
Austria: Fischer Calls Upon Respect of Human Rights
At the New Year Reception for the diplomatic corps in Austria, President Heinz Fischer called upon the strict compliance to human rights.
January 20, 2014
Kotian: “Growth in CEE is Accelerating“
In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.
January 20, 2014
Audit Court Criticizes Austrian Government Sharply
Josef Moser, president of the Austrian Audit Court, has sharply criticized the government’s resolution.
January 17, 2014
Expansion Course of Austrian Banks Slowed Down
After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.
January 16, 2014
Citizens from CEE Major Benefit for EU
A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.
January 15, 2014
CESEE: Number of NPL Declining
According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.
January 14, 2014
Eurozone: Further Capital Injections at Banks Expected
The Council of the European Central Bank (ECB) is holding a summit today. The low inflation rate in the Eurozone is still a dilemma for the monetary authorities.
January 9, 2014
RBI Expects Growth to Accelerate in 2014
2014 marked by growth recovery, according to RBI Research.
January 9, 2014
Slovenia: Growth through Diplomatic Network
Slovenian Finance Minister Karl Erjavec assured that throught diplomatic network the country’s economy will still be supported.
January 9, 2014
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