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Budget Deficit
Serbians Push Government for Reforms
The support for an EU membership has fallen below 50%. However, more Serbians call for economic and social reforms.
August 27, 2012
Majority of Poles Against Joining Eurozone
About 58% of the Polish citiczens are against the introduction of the euro, TNS Polska reports. Only 12% think that joining the Eurozone would be good for Poland´s economy.
August 24, 2012
Orban Underlines Success of Hungarian Crisis Management
Hungary´s Prime Minister Viktor Orban wants to lower the public debt quota further. Hungary´s recession would be due to the weak Eurozone, he says. Orban forgot to mention some details, however.
August 24, 2012
S&P Confirms Czech Rating
The U.S. rating agency retained the rating for the Rczech Republic.
August 24, 2012
Bulgaria Installs Debt Brake
The Bulgarian Ministry of Finance prepared a new Public Finances Act. The budget deficit must not exceed 2.0% of GDP.
August 22, 2012
Czech VAT to Increase
In order to increase public revenues, the Czech government may increase value added taxes.
August 21, 2012
Slovakia Aims to Lower Budget Deficit Below 3.0% of GDP
The Slovakian government presented the draft state budget for 2013. The budget deficit should not exceed 2.9% of GDP, the Finance Ministry announced.
August 21, 2012
Hungary´s Public Debt Decreasing
Due to the weak euro, Hungary´s public debt quota decreased by 1.3% percentage points within only one quarter.
August 20, 2012
Does the Euro Collapse Now? (Part 2)
The nervousness among Europe´s leaders is growing. Not only Finland warns of a breakdown.
August 18, 2012
Poland Does Not Expect Recession in 2013
The Polish Minister of Finance Jacek Rostowski explained that the Polish economy will grow by 2.5% this year.
August 18, 2012
Poland´s Deficit Target in Danger
The Polish government may fail the 3.0% deficit target in 2012. Above all, the economic slowdown is a risk factor.
August 17, 2012
Hungary Faces Recession Again
In the second quarter of 2012, Hungary´s GDP was dwon by 0.2%. The decrease in exports is the main reason.
August 16, 2012
Slovakia Fights Against Budget Deficit
In order to comply with the EU Stability Pact, Slovakia needs to cut public expenses by € 630m.
August 16, 2012
Slovenia to Establish a Bad Bank
The Slovenian government wants to support the financially stricken banking sector. Risky assets should be outsourced to separate banks.
August 14, 2012
Croatia: Crisis Sharpens
The Croatian recession seems to continue. Consumption falls further, unemployment continues to rise.
August 7, 2012
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
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