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Croatia
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Croatia: Erste Offer Rejected

Austrian Erste Group intended to aquire Croatian HPB. However, the offer was rejected by the Finance Ministry as the purchase price was considered too low.
December 13, 2013
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Austrian GDP per Capita Second-Highest in EU

In terms of GDP per capita, Austria is the second-richest EU country.
December 12, 2013
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Austrian Banking Industry Depends on Russia and Czech Republic

For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.
December 12, 2013


Croatia: EU Introduces Excessive Deficit Procedure

In the last years, Croatia´s fiscal situation has deteriorated considerably. Not only the budget deficit remains above 3.0% of GDP, but also the public debt quota has climbed above 60% of GDP.
December 11, 2013
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EU/CESEE: Real Income Shrinks

In 2013, the real income will do down in Austria. Since 2010, the Austrian real income was down by 1.3%. In Hungary, real income fell by 15% in that period.
December 9, 2013


Sale of Hypo Group: Small Number of Potential Buyers

In 2014, Hypo Group´s assets will be sold. It is not certain whether there will be a bad bank or not. Even a bankruptcy is not completely excluded.
December 7, 2013
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Croatia Ready for Allocation of EU Funds

Croatia has been given access to 1.12 billion euros in all EU programmes.
December 6, 2013


Croatia: New Difficulties for Borrowers Ahead

The Croat banking sector pegs the interest rates to the EURIBOR. Consumers may have to pay higher borrowing costs.
December 6, 2013


„We Can Exclude a Bankruptcy of Hypo Group”

Ewald Nowotny, governor of the Austrian National Bank (OeNB) and Klaus Liebscher, head of Hypo Group´s supervisory board argue that the nationalized bank will be downsized according to plan.
November 29, 2013
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CESEE: Slight Growth Acceleration, but Uncertainties Persist

The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.
November 28, 2013


Croatia: Milanovic Promises Economic Recovery

Prime Minister vows that Croatia's economy will be put on a sounder footing.
November 28, 2013
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Croatia: HNB Pushes Credits

According to reports by Reuters, the Croatian National Bank (HNB) intends to issue HRK 4bn (US-$ 707m) to support credits. Further details will be published by the Central Bank later this week.
November 27, 2013


CESEE: Austrian Banks Face New Challenges

For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.
November 26, 2013


Dispute about NLB Reignites between Slovenia and Croatia

Damaged savers of NLB filed lawsuit against the bank at the European Court for Human Rights.
November 26, 2013
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Wide Parts of CESEE Region Below Pre-Crisis Level

In terms of economic output, a large number of CESEE countries have not reached the level of 2008 yet. The growth outlook remains cautious.
November 25, 2013


Croatia: Amendmends to Cosumer Credit Law

Interest rates on housing loans pegged to Swiss Franc dropped by 30 percent.
November 22, 2013
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Nowotny: Must Avoid Bubble in CESEE

In order to avoid another asset bubble like in 2008, loan growth has to be monitored, governor of Austrian National Bank Ewald Nowotny says.
November 19, 2013


Linic: No Aid from IMF Needed

According to Croatia´s Minister of Finance Slavko Linic, the country will manage the financial crisis on its own.
November 15, 2013


IMF Puts Pressure on Croatia

Although Croatia´s economic situation will improve slightly next year, the country is seen as next bail-out candidate. The International Monetary Fund wants Croatia to accelerate economic reforms.
November 12, 2013
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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


Triglav: No Expansion in Croatia

The biggest Slovenian insurance company planned to increase its stake in Croatia Osiguranje. Croatia´s government rejected Triglav´s offer.
November 11, 2013
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Croatia: IMF as Last Exit

It is likely that the ailing country is seeking assistance from the IMF. Borrowing in 2014 is risky, Finance Minister Slavko Linic said.
November 11, 2013


Hypo Group: Urgent Need for Fresh Money

The ailing nationalized bank Austrian Hypo Group Alpe Adria has a capital shortfall of € 1.3bn. The gap must be closed before the end of the year.
November 11, 2013


Croatia´s Banking Sector Remains Competitive

The Croat legal system is perceived as major weakness. Credit demand is going down for years.
November 9, 2013
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Croatia Under Brussel´s Observation

The new EU member country fights against a number of economic problems. Now, the EU-Commission considers starting an excessive deficit procedure.
November 7, 2013


Banking Sector Reduces Lending

Instead of offering loans to the corporate sector, banks tend to invest in sovereign bonds. The CESEE region is particularly affected by this.
November 6, 2013
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Banking Sector: Difficulties in Croatia Ahead

In order to protect indebted home-owners, the Croat parliament will resolve a new bank act. Like in Hungary, foreign-exchange-based mortgage should be converted at the expense of banks.
November 6, 2013


Croatia: Excessive Deficit Procedure Ahead

Neither in 2013 nor in 2014, Croatia will achieve a budget deficit below 3.0% of GDP.
November 4, 2013


Slovak Banking Industry Records Growing Net Income

In the first nine months of 2013, Slovakia´s banking sector recorded a total net profit of € 449m.
November 1, 2013
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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
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World Bank: Croatia Showing Progress

Despite notable progress the country slipped back to beigt 89th out of 185 countries in the ranking “Doing Business” by the World Bank.
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


Hypo Group to Create Bad Bank

After months of considerations, the Austrian government will decide for the bad bank. The nationalized banking group will be a major burden for the state.
October 26, 2013
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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


Hypo Group: Worst Expectations May be Exceeded

For the Austrian state, the ailing nationalized banking group may become a financial GSA. The legal dispute with the former owner BayernLB bears enormous dangers for Austria´s public finance.
October 25, 2013
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Telekom Austria: Massive Capital Increase Ahead

In order to implement its expansion strategy, the Austrian telecommunication group will carry out a capital increase next year. In total, the capital requirement comes at € 1.0bn.
October 25, 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


Croatia: 2012 Budget Deficit Revised

Because of the different EU methodology, Croatia had to revise its budget gap. The fiscal situation remains critical.
October 23, 2013
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House Searches at Strabag Subsidiary in Croatia

The corruption scandal at the Croatian Chamber of Economy affects public road authority HAC and construction companies that were commissioned, among them Austrian Strabag and Alpine.
October 22, 2013


Uniqa to Aquire Western Balkan Insurance Companies

Listed insurance company Uniqa will take over Croatian and Serbian affiliates of Swiss insurance group Baloise (Basler) to strengthen its market position in the Western Balkan states.
October 22, 2013
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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


IMF Warns of Financial Instability in CESEE

Due to the high non-performing loan quota and the deleveraging of Western banks, the countries of Central, Eastern and Southeastern Europe are still far from financial stability.
October 18, 2013


Solution to Croatian/Hungarian Mol Issue Expected Soon

The Croatian justice has issued an international arrest warrant for the head of Hungarian oil company Mol.
October 15, 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


Croatia: Not Plans of Privatizing State-Owned Companies

Croatian government denies it planned to privatize 28 large state-owned companies.
October 14, 2013
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IMF: „Banks and Companies in a Vicious Circle“

Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.
October 11, 2013


Erste Observes SEE Region Intensively

Vienna-listed Erste Group, which is the third-biggest lender in the CESEE region, wants to expand into Southeastern Europe.
October 11, 2013


Croatia: Inflation Moderate

At the session the CNB Council examined recent economic and monetary indicators, as well as expected further developments.
October 10, 2013


Southeastern Europe: Property Market Clashes

Since mid-2012, the property market in Southeastern Europe shrinks drastically. In Croatia, house prices fell by 20%.
October 10, 2013