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Serbia: Struggle for Central Bank Sharpens
After the resignation of governor Dejan Soskic, the EU warns Serbia of abolishing the independence of the Serbian Central Bank.
August 6, 2012
Moody´s Downgrades Slovenia
Today, the U.S. rating agency has downgraded the Western Balkan country by three notches to „Baa2“ from „A2“.
August 3, 2012
Budget Crisis: Serbia to Reduce Foreign Exchange Reserves
In order to mend Serbia´s budget hole, the government plans to amend the Central Bank law.
August 2, 2012
Austria: Guarantees Reach Half of Public Debt
Among EU members, only Ireland has more guarantees as a percentage of GDP.
July 30, 2012
Slovenian Banking Crisis Aggravates
This week, the rating agency Moody´s downgrades the three biggest banks of Slovenia. Slovenia is threatened of becoming a bail-out candidate.
July 27, 2012
IHS: Austria Grows Faster Than Eurozone
The Austrian Institute of Advanced Studies expects an average economic growth of 1.7% until 2017.
July 26, 2012
Poland as CESEE´s Locomotive
This year, the CESEE region should record a growth rate of 1.7%. However, the situation is highly different.
July 25, 2012
Rising Serbian Budget Deficit Causes Worries
This year, Serbia has to borrow € 4.2bn. A budget deficit of € 300m is forecasted in 2012.
July 24, 2012
Aiginger: „Feeding Banks Makes No Sense“
The director of WIFO (Austrian Institute of Economic Research) thinks that Spanish banks must be able to become insolvent.
July 24, 2012
IMF: Doubt on Hungary´s Economic Data
For the IMF, the budgetary forecasts are too optimistic. The negotiations on the € 15bn loan continue.
July 23, 2012
Rise in Public Debt Unstopped
In the Euro area, government debt was up to 88.2% of GDP. Due to the European debt crisis, Austria´s public debt level will increase from 72.2% to 74.7% of the country´s GDP.
July 23, 2012
Slovakia: Bank Tax Should Reach € 1.0bn
The Slovakian government raised the bank tax up to 0.4% on deposits. Once the tax intake totals € 1.0bn, the tax should be abolished.
July 21, 2012
Slovenia in Financial Distress
In order to prevent becoming a bail-out candidate, the Slovenian government aims to resolve a „debt brake“. It turns out that this goal is highly uncertain.
July 21, 2012
"Wage Cuts in Southern Europe Inevitable"
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies thinks that a fiscal union will not work. The recession in Southern Europe will go on.
July 21, 2012
Fekter Does not Want to Bundle Austrian Problem Banks
As the public debt level would rise dramatically, Austria´s Finance Minister Maria Fekter rejects the idea of a common bad bank.
July 19, 2012
Further Increase in Austrian National Debt
Due to the European debt crisis, Austria´s public debt level will increase from 72.2% to 74.7% of the country´s GDP.
July 16, 2012
Poland Not to Enter the Eurozone Soon
For the time being, Poland will keep the Zloty. After the Eurozone has managed the current crisis, an accession is conceivable, Foreign Minister Radoslaw Sikorski says.
July 14, 2012
Austrian Municipalities Suspected to Hide Public Debt
About 40% of Austrian municipalities source out public debt. The size of hidden public debt could reach up to € 10bn.
July 14, 2012
Hungary: IMF Talks Begin Next Week
The financially stricken country seeks a second bailout by IMF. Hungary negotiates over a loan sized € 15bn.
July 14, 2012
EU – An Escape for Serbia?
The economic prospects for Serbia are gloomy. The priority of the new Serbian government is to join the European Union.
July 14, 2012
Stability of Austrian Budget Endangered
Public expenses are on the rise. At the same time, the tax intake shrinks. Economist Felderer warns of expensive election gifts.
July 12, 2012
Slovenia Remains in Recession
According to estimations, the recession in Slovenia will sharpen this year. A turnaround is expected in 2013. The banking sector is an enormous burden for the Souteastern European country.
July 12, 2012
„No Austerity Measures in the Czech Republic“
The Vienna Institute for International Studies underlines that the Czech Republic´s financial situation is very stable at the moment. Austerity policies would not be required.
July 11, 2012
Slovakia: Flat Tax to be Abolished
This summer, the Slovakian government will resolve a package of 22 measures in order to fight public debt.
July 10, 2012
Austrian Government Debt on the Rise
The Austrian public debt level rose to 73.5% of GDP or € 222.6bn in the first quarter of 2012. Above all, the situation of Austrian municipalities is precarious.
June 29, 2012
„Austria Must Not Become Mediocre“
The Austrian Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) call for an acceleration of reforms as the Austrian position in competitive rankings deteriorates.
June 18, 2012
Austerity: „There is No Alternative“
The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.
June 12, 2012
Monti Angry at Fekter
Italy´s Prime Minister Mario Monti is unhappy with the statement of Austria´s Finance Minister Maria Fekter on Italy. Fekter considered that Italy may need help by the EU.
June 12, 2012
Austrian Central Bank Expects Economic Stabilization
Austria´s budget deficit is expected to decrease, the economic growth should increase slightly.
June 11, 2012
EU Calls on Austria to Accelerate Reforms
Austria has to put more effort in reforms. In the fields of education, labor market, retirement plan and budget consolidation, Austria shows deficits.
June 1, 2012
Economic Balance: EU Warns Austria
The Commission of the EU issues an early warning for Austria as the thresholds of three macro-economic indicators were exceeded.
May 31, 2012
The Euro - A Big Error (Part 4)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 31, 2012
Austrian Budget Target Endangered
In spite of decreasing revenues and rising expenses, Austria´s Minister of Finance Maria Fekter expects to reach the budget target.
May 30, 2012
The Euro - A Big Error (Part 3)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 29, 2012
Vienna´s Indebtedness Grows
Austria´s capital ignored the warnings of the Audit court and lets the debt burden grow further.
May 26, 2012
The Euro – A Big Error (Part 2)
The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 23, 2012
Austrian Industrial Sector Pushes for Austerity
The Federation of Austrian Industries sees still a huge potential to reduce public expenses and underlines the importance of the industrial sector.
May 22, 2012
Fekter: Hollande´s Suggestions are “Nonsense”
Vice-Chancellor Spindelegger and Finance Minister Fekter are strictly against the introduction of Eurobonds and any amendments of the Fiscal Treaty.
May 22, 2012
The Euro – A Big Error (Part 1)
The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 20, 2012
Sorger Underlines Austrian Crisis Management
The President of the Federation of Austrian Industries Veit Sorger reaffirms the necessity of austerity and investments of the private sector.
May 19, 2012
Androsch Criticizes Political Inactivity
The former Austrian Finance Minister and industrialist Hannes Androsch thinks that both austerity and growth strategies are needed and criticizes the government sharply.
May 18, 2012
Keuschnigg: „Austria Needs More Federalism“
The new director of IHS (Institute of Advanced Studies) considers that a decentralization of the fiscal policy would bring more competition between the provinces.
May 18, 2012
Austrian Stability Pact Signed
The Austrian Federation, the provinces and the municipalities agreed on the stability pact. Until 2016, a zero deficit should be reached.
May 10, 2012
Stable Development of Austrian Economy
The Austrian Institute of Economic Research (WIFO) forecasts a decent, but stable economic growth in 2012.
May 10, 2012
Maastricht Criteria: Austria in the Middle Field
In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.
April 23, 2012
Triple-A Will Not Return Soon
The U.S. rating agency S&P dashes hopes that Austria may get back its “AAA” soon. Austrian banks may still face risks as the crisis is over yet, S&P says.
April 20, 2012
Felderer: „Women Must Have More Children”
The director of the Austrian Institute of Advanced Studies (IHS) sees a demographic problem in Austria as well as in Europe. Migration cannot solve the problem, Felderer says.
April 19, 2012
Felderer: „Another Downgrade Less Probable“
The Austrian economist Bernhard Felderer thinks that the risk of another downgrade of Austrian sovereign bonds has decreased.
April 18, 2012
Austrian Industry Underlines Austerity Policy
After the rating agency Fitch retained Austria´s triple A, the Austrian industry sees a confirmation of the need for austerity. Finance Minister Fekter emphasized to push for further reforms.
April 17, 2012
Public Deficit in 2011 Below Maastricht Criteria
The Austrian state recorded a budget deficit of 2.6%. Public debt rose to 72.2% of GDP in 2011.
March 29, 2012
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