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Austria to Raise Capital of up to € 30bn
In 2014, the Austria state will raise capital in the amount of € 28bn to 30bn from international capital markets. This year around € 29bn were raised.
December 6, 2013
Moody's: ECB Rate Cut Does Little for Economic Growth
ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.
December 5, 2013
ECB: Debates about Further Measures in Monetary Policy
Today the 23 member of the European Central Bank’s Council have initiated debates about the the stance of monetary policy. The base rate, lowered to 0.25 percent last month, is expected to remain unchanged.
December 5, 2013
Bratusek: Slovenia Will Manage Bank Rescue
According to Prime Minister Bratusek, Slovenia will manage the bank rescue on its own.
December 3, 2013
Austria: Debt Quota to Increase Slightly
Because of the new EU regulations the debt quota will increase by around 2.5 percent.
December 3, 2013
Hungary: Matolcsy Demands Resignation of EU Commissioner
György Matolcsy, Governor of the Hungarian National Bank (MNB), demands a better rating for Hungary and the resignation of EU Commissioner Olli Rehn.
December 2, 2013
RBI Calls for Better SME Financing in Europe and CEE
RBI CEO Karl Sevelda calls for improvement of SME financing.
November 28, 2013
PwC: Turbulent Years for Banks
According to a study by PricewaterhouseCoopers (PwC) the core capital of European banks need to be increased significantly.
November 28, 2013
Germany Claims Key Positions at EU Banking Regulator
The German federal government claims one key position in the European banking regulator.
November 28, 2013
EU Needs Investments for Growth
Europe will not see any substantial growth without serious investment in research and innovation.
November 28, 2013
ECB Considers Restricting Credits
The ECB takes the option of restricting banking to industrial enterprises only into consideration.
November 27, 2013
EU Financial Transaction Tax to Become a Flop?
Experts do not expect the financial transaction tax to become effective next year.
November 27, 2013
WKO: Better Framework Conditions for SMEs
Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.
November 26, 2013
ECB Does Not See Danger of Deflation
Benoit Coeure, member of ECB’s supervisory board, does not see the danger of deflation in Europe.
November 25, 2013
Szczurek: EU Funds to Create Growth
Poland´s designated Minister of Finance Mateusz Szczurek explained that EU contributions will be used to support Polish GDP growth.
November 23, 2013
Slovakia Benefits Substantially from EU
In the next fiscal term from 2014 to 2020, Slovakia will receive net contributions of € 14bn. Without the EU contributions, Slovakia´s fiscal situation would be difficult.
November 23, 2013
Ukraine Leaves Path Towards EU
After the Association Agreement between the Ukraine and the European Union failed head of state Mykola Asarov stated economic reasons for the abrupt stop.
November 22, 2013
Eurozone: Nouy New Manager of ECB’s Banking Suvervision
Daniele Nouy will become the new head of the ECB’s banking supervision.
November 21, 2013
Czech National Bank Not Intending Further Forex Interventions
According to Miroslav Singer, governor of the Czech National Bank, the authority is not planning on taking further measures at the forex market to weaken the Czech Crown (CZK).
November 21, 2013
Poland: Reshufflement at Government
A major reshufflement is currently under way at the Polish government.
November 20, 2013
Hypo Group: Investors Claim Refunds
A group of aggrieved investors in Hypo Group Alpe Adria files claims for damages. These so-called small investors provided amounts from € 30,000 to € 300,000 and feel disadvantaged compared to bigger investors.
November 20, 2013
Austria: High Tax Country
According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.
November 19, 2013
OECD: Restructuring of Banks Required
The Organization for Economic Cooperation and Development (OECD) calls for a fast progress in the establishing of a banking union in the Eurozone and restructuring of the banking sector to boost economic growth.
November 19, 2013
Slovenia Issues New Eurobonds
The issuance of a new bond in the amount of € 1.5bn on Friday came as surprise as Prime Minister Alenka Bratusek has annouced earlier no such measures will be made until the beginning of the new year.
November 18, 2013
Banking Union: No Progress
The EU countries could not agree on a common bank resolution mechanism yet. Once more, the pressure on Berlin is growing.
November 16, 2013
EU Commission Criticizes Austria Once More
The EU Commission has again criticized Austria and Luxembourg and demands the countries to stop blocking the extensive exchange of tax data.
November 15, 2013
Slovenian Government Wins Vote of Confidence
As expected, on Friday the Slovenian center-left government of Prime Minister Alenka Bratusek has won a vote of confidence.
November 15, 2013
EU Commission: Slovenia Makes “Key Progress”
Slovenia is among 16 EU member states that require comprehensive assessment of macroeconomic imbalances. According to a report published by the EU Commission, the small country shows significant improvement.
November 14, 2013
ECB Still Has Further Tools
In spite of the most recent cut of the key rate by the European Central Bank (ECB) there is still some leeway downward. However, measures will affect the exchange rate of the common currency.
November 13, 2013
Austria: Downsizing Options for Hypo Group under Discussion
In the discussion about establishing a downsizing unit for ailing bank Hypo Group Alpe Adria, several possibilities are taken into account.
November 12, 2013
Half of Austrians Consider the Country Stuck in Recession
According to an online survey, the Austrians are confident and not concerned by the most recent recession in the Eurozone. With a total of 87 index points consumer’s confidence remained stable in the third quarter of 2013.
November 12, 2013
Austria: Nowotny Rejects Mood of Opposition against ECB
Ewald Nowotny, governor of OeNB, rejects the idea of having been part of a protest group against the European Central Bank’s (ECB) most recent monetary measures by cutting the key rate to an all-time low.
November 12, 2013
Western Balkans Struggling with NPL
The high percentage of non-performing loans in the Western Balkan region is affecting the financial stability of the region’s countries.
November 11, 2013
Nowotny Against ECB’s Key Rate Cut
The governor of the Austrian National Bank has, according to reports, voted against the ECB’s most recent interventions.
November 11, 2013
Czech Republic: CNB to Intervene in Forex Market
After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.
November 11, 2013
Stable Outlook for Recovery of Austrian Economy
The outlook for economic improvement has stabilized. Both Wifo’s economy test and Wifo’s early indicator point to an upward trend.
November 8, 2013
Austrian Banks Forced to Prepare in Case of Bankruptcy
From 2014 on, the Austrian Banks are required to start planning the emergency scenario in case of a liquidation in order to be able and react more quickly.
November 7, 2013
ECB to Keep Interest Rate Low
Despite a low inflation, the European Central Bank (ECB) will keep the interest rate low. The Council of ECB has held a meeting on Thursday morning
November 7, 2013
Bulgaria: Banks Have More Assets at Disposal
With more money available, banks in Bulgaria are now able to grant more loans.
November 6, 2013
Romania: Growth Rates to Exceed Forecasts
According to the autumn forecast published by the EU Commission on Tuesday, Romania will exceed the previous estimates.
November 6, 2013
Austria: Compulsory Levy on Assets Simply “Out of Question“
Top bankers and economists in Austria consider the compulsory levy of ten percent on household assets “out of question” and “ludicrous”.
November 5, 2013
Hypo Group: Restraining Effect on Budget Consolidation
According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.
November 5, 2013
Serbia: FDI as Driver for Economy
Further decline in FDI could affect economic growth in the Western Balkan state. The Serbian government announced to push forward with amendmends to improve business environment and boost economic growth.
November 4, 2013
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
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