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Brussels

Czech Budget Deficit to Remain Below Approved Mark

The budget deficit in the Czech Republic increased to CZK 47.7bn in October from CZK 38.2bn in September.

November 4, 2013

Industrial Sector: Growth Painfully Slow

According to a survey by research institute Markit, industrial production in the Eurozone increased in October for the fourth time in a row. However, the rate of growth is still low.

November 4, 2013

Slovenia: Highest Contribution of GDP to ESM

As reported by Slovenia Times, the country has spent 2.8 percent of GDP for the Euro Stability Mechanism (ESM) last year.

November 4, 2013

Visegrad Countries Encourage Western Balkans to Join EU

Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.

October 31, 2013

Lopatka: EU Enlargement Process of Western Balkans Decisive for Austria

“Non-Enlargement” of Western Balkan states would be fatal for Austrian businesses operating in the region and the national economy.

October 31, 2013

Slovenia on Top of Prosperous Countries in Emerging Europe

Slovenia is leading the list of prosperous countries in Emerging Europe. Bulgaria is on the last position.

October 30, 2013

Austrian Industrial Sector Gaining Stability

The upwards trend in Austrian industry picked up pace in October. Highest survey reading for two years signals clear pick-up of industrial activity

October 30, 2013

Dispute about Gas between Russian and Ukraine about to Escalate

According to Russian energy giant Gazprom, Ukraine has not yet paid deliveries of natural gas in the amount of around € 639m.

October 29, 2013

Southeastern Europe Initiates Common Economic Strategy

In Croatia´s capital Zagreb, the Southeast European countries agreed on putting more common effort into innovation based growth strategies.

October 26, 2013

Bulgarian President Calls for TTIP

Bulgaria’s economy would benefit from a free trade agreement between EU and USA.

October 25, 2013

EU Summit Calls for Finalization of Joint Guidelines for ESM

The EU Summit presses for faster changes to achieve the aim of a banking union.

October 25, 2013

Romania: Precautionary Financial Assistance Approved

The Council of the European Union has approved a new precautionary financial assistance program for Romania in extend of € 2bn in connection with a loan by the International Monetary Fund (IMF).

October 25, 2013

Austria to Remain at AA+

Austria has not yet been given back Standard & Poor’s Triple A.

October 25, 2013

Czech Republic: Four Banks too Big to Fail

CNB has determined four domestic banks that could potentially endanger the country’s financial system in case of bankruptcy, as reported by daily “Hospodarske noviny” (HN).

October 24, 2013

ECB: “Uniform Assessment for Banks Important Step for Europe”

Assessment of ECB is an important step in the preparation of the single supervisory mechanism.

October 24, 2013

Serbia Wants to Become Full EU Member Asap

The Western Balkan is serious in building a relationship with the European Union.

October 23, 2013

Poland Intends to Keep Banking Sector Small

The Polish financial regulator intends to keep the frequency of bank shops low and avoid risks and bailout by this.

October 23, 2013

Public Debt: CESEE Countries Below EU Average

At the end of the first half of 2013, the EU public debt quota reached 86.8% of GDP. Western Europe´s public debt level is significantly higher than in Eastern Europe.

October 23, 2013

Slovenia: Govenor of National Bank demands “Change of Mentality”

At a lecture planned by the Institute for Middle-East and Balkan Studies (IFIMES), Bostjan Jazbec, govenor of Banka Slovenije, pointed out that the country could only blame itself for the current state it was in.

October 23, 2013

Austrian Banks Expected to Pass Auditing

According to the financial supervisors, the Austrian banks are likely to pass the ECB’s (European Central Bank) auditing since there are no significant adjustment requirements.

October 23, 2013

Slovenia: Banka Sparkasse Provided with Loan by EIB

EIB continues to support SME and mid-cap projects in Slovenia.

October 22, 2013

Austria: Bank Aids Burden State Budget

Since the beginning of the financial crisis, Austria has lost billions of Euros.

October 22, 2013

Romania and Bulgaria Have Lowest Debt Ratios

With a public debt to GDP ratio of 18.5%, Bulgaria has the second lowest public debt quota in the EU.

October 21, 2013

Eurozone: Economy Starting to Grow

Experts at Ernst&Young; forecast economic growth of 0.9 percent in 2014 in consequence of an improved global economic performance.

October 21, 2013

Austria: State Debts Could Amount to 74.5 Percent of GDP

The statistical office of the European Union, Eurostat, raised doubts about the Austrian budget deficit and public debts because of the financial scandal of the government of the province of Salzburg.

October 21, 2013

Croatia: EU-Membership Did Not Help Yet

In the first months of its EU membership, the situation in Croatia´s industrial sector deteriorated further.

October 19, 2013

Nowotny Demands Same Rules for All Banks

Govenor Nowotny urges for a discussion about the capital requirements (Basel III) for banks, which applies only for the major banking institutes in the US but for all banks in Europe.

October 18, 2013

Turkey: Green Light for EU Accession Talks

On Tuesday, the EU Commission intends to give green light to accession negotiations with Turkey starting at the beginning of November.

October 18, 2013

Mitterlehner: “2014 Will Become Significantly Better“

Austrian Minister for Economy Reinhold Mitterlehner considers the Austrian economy to be in a spirit of optimism as an upturn in Europe has become evident. According to him, 2014 is supposed to become “significantly better” than 2013.

October 17, 2013

Serbia: EU Candidacy to Accelerate Reforms

On the occasion of a meeting with head of the EU Delegation to Serbia, Serbia´s Prime Minister Ivica Dacic expressed his willingness to deepen the reform process.

October 17, 2013

EU Enlargement: Commission Recommends to Take Up Albania and Macedonia

In a set of annual reports adopted, the European Commission recommends granting EU candidate status to Albania and for the fifth time in a row, the opening of accession negotiations with the former Yugoslav Republic of Macedonia.

October 17, 2013

Austria: RBI Expects Stabilization

Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.

October 17, 2013

Austria: Voestalpine Expects Same Results as 2012

CEO Wolfgang Eder expects the same level in profits as last year.

October 17, 2013

Romania: Privatization of Railroad Company Flopped

The privatization of Romanian freight railroad company CFR Marfa failed. The sale of shares is part of the conditions with IMF, the World Bank and the European Union.

October 17, 2013

Eurozone: Banking Union Approved

From autumn 2014 on, the European Central Bank (ECB) will directly supervise 130 major banks within the Eurozone.

October 16, 2013

Ukrainian Gas Pipeline Key Issue for EU Commission

A gas pipeline plan in the Ukraine is among the EU Commission’s key infrastructure projects.

October 16, 2013

Austrians Opposed to EU Enlargement

According to a survey, the majority of Austrians are opposed to an EU Accession of Turkey and Western Balkan States.

October 16, 2013

Poland: 70 Percent against Introduction of Euro

According to a recent survey carried out by Public Opinion Research Center (CBOS) as many as 70 percent reject the idea of introducing the Euro to Poland.

October 15, 2013

EU Commission Favors New Nabucco Project

After OMV’s pipeline project Nabucco failed, the EU Commission takes into consideration a stripped-down version along the Danube.

October 14, 2013

Croatia: Hypo Group Losing Last Industrial Participation

Croatian chemical company Dioki is facing bankruptcy which is why Hypo Group is losing one of the last industrial participations in the country.

October 14, 2013

Ukraine’s EU Accession: Commission Still Positive

Stefan Füle, EU Commissioner for Enlargement and European Neighborhood Policy underlined once more Ukraine’s significant progress leading the country close to the European Union.

October 14, 2013

Slovenia Does Not Fully Draw EU Funds

As the Slovenian projects will not be finished in time, the financially stricken country will fail drawing all funds.

October 12, 2013

Bulgaria: Significant Increase in Exports to EU

Exports from Bulgaria to the European Union have increased by 6.6 percent.

October 10, 2013

Polish Government to be Rearranged

On Wednesday Prime Minister of Poland Donald Tusk announced that there will be personnel changes in November within the government which will be presented in November.

October 10, 2013

Gazprom May Face Proceedings by Austrian OMV

OMV considers arbitral proceedings against Russian Gazprom in case no joint solution will be found.

October 9, 2013

Bratusek: “We Are Paying for Your Debts”

On Tuesday Slovenian Prime Minister Alenka Bratusek presented the budget draft for 2014 and 2015 to the members of parliament.

October 9, 2013

Serbia Gets Support by Former Italian Foreign Minister

On its path to EU integration, Serbia gets further well-known support.

October 8, 2013

Poland Hopes for Cheap Gas by Gazprom

The Polish government is hoping to be able to bargain prices with Russian energy giant Gazprom, Polish Minister for Economy Janusz Piechocinski announced today.

October 8, 2013

IMF Forecasts Only Minimal Growth for Austria in 2013

The International Monetary Fund (IMF) forecasts not even one half percent of GDP growth this year for Austria. However, 2014 has better chances for accelerated growth.

October 8, 2013

Fekter Presses for Provisional Budget Financing

Finance Minister Maria Fekter (ÖVP) does not count on the government to present a budget draft in time, which was scheduled October 22 and involves the Finance Act until the end of the year.

October 8, 2013
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