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ECB European Central Bank

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

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

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

Interest Rate Cut: “Very Effective Property Tax“

Economists have judged the ECB’s cut in interest rate differently. According to Brezinschek, chief analyst at Raiffeisen International, savers that are not involved in speculative investments will not benefit from the latest key rate cut.

November 8, 2013

Eurozone: Key Rate At Record Low

Low inflation was reason for ECB to lower key rate again by 0.25 percent.

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

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: Bailout Comes Closer

The ailing country is not expected to manage the financial crisis on its own. Calling for support from Brussels seems to be the last remaining alternative.

October 28, 2013

Bank Asset Review: Slovenia´s Government Satisfied

According to Slovenia´s Prime Minister Alenka Bratusek, Slovenia´s government has received full support for the bank asset review. ECB´s point of view is more critical, however.

October 26, 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

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

Stress Tests: Austrian Banks Demonstrate Optimism

Austrian banks are expected to pass the stress tests. However, the next years are expected to become challenging for the Austrian banking sector.

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

EBRD Analyzes Slovenia´s Difficulties

From October 21 to 25, a delegation from the European Bank for Reconstruction and Development will visit the ailing country.

October 21, 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

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

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

Calculated Optimism in Slovenia

Slovenia´s Ministry of Economics expects a return to growth in the course of next year. According ot economists, this forecast is leading to doubt.

October 15, 2013

FX Loans: ECB Warns Hungary

ECB´s governor Mario Draghi warns Hungary. The conversion of foreign currency loans may sharpen the credit crunch.

October 14, 2013

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

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

Keuschnigg Advises Austria to be Patient

According to Keuschnigg it was not possible to increase the core capital quota of the banks to the level necessary or to reduce public debts by 120 percent in two years only.

October 4, 2013

Economic Recovery and Interest Rate Turnaround Also in Austria?

Not only Germany but also the peripheral areas of the European Union see economic recovery supported by an increasing export activity.

October 3, 2013

Eurozone: Inflation Drops to 1.1 Percent

According to first estimates by Eurostat, the Eurozone shows the lowest inflation rate in more than a year. Only twelve months ago the inflation rate was at 2.7 percent.

September 30, 2013

"European bank supervision sends a strong signal to financial markets"

Austrian Federal Minister of Finance Maria Fekter welcomes favourable European Parliament decision on bank supervision.

September 28, 2013

Slovenia: Controversies Over New Budget

Slovenia´s Prime Minister Alenka Bratusek links the approval to the austerity budget to a vote of confidence.

September 25, 2013

Slovenia in a Decisive Phase

According to Bostjan Jazbec, Govenor of the Bank of Slovenia, the coming weeks will be critical for the small Eurozone member country.

September 23, 2013

Slovenia: First Budget Surplus in 2013

For the first time this year, Slovenia shows a budget surplus of € 15m. However, the deficit of the first eight months is as high as € 1.3bn, according to data by the Finance Ministry.

September 20, 2013

Slovenia: Privatization Program to Boost FDI?

The government of the financially ailing country is forced to privatize a substantial part of the publicly held companies. Prime Minister Bratusek hopes foreign direct investments to increase.

September 20, 2013

Slovenia: Bankruptcy Without ECB/ESM?

Without external aid, Slovenia will not manage its severe financial crisis, experts say. A bail-out becomes more likely.

September 15, 2013

ECB Worried About Slovenia

The European Central Bank is uncertain whether the financially stricken country will be able to manage its banking crisis.

September 12, 2013

Slovenia Shuts Down Two Small Banks

In order to ensure the stability of its financing sector, Slovenia decided to liquidate two banks, Factor Banka and Probanka. According to state officials, the step was also taken to avoid international bailout.

September 9, 2013

Eight Austrian Banks to be Supervized by ECB

The European Central Bank will supervise 130 banks in the Eurozone. 18 German and six Austrian banks will have a new supervision authority.

September 6, 2013

Cyprus: Waiting for the Next Bailout Tranche

Crisis-struck member of the Eurozone Cyprus will have to wait for the next payment out of the bailout-package. Before the next tranche will be transferred the small country has to implement key measures.

September 2, 2013

Uher: “Banking Union in Eurozone Great Danger“

Thomas Uher, member of the board of directors at Erste Bank, warns of a banking union that is only limited to the Eurozone.

August 30, 2013

Mersch: Banking Supervisory Could Be Delayed

At the Forum Alpbach Yves Mersch, member of the ECB’s (European Central Bank) executive board, presented himself sceptical about whether or not a punktual start of a uniform European banking supervision could take place.

August 29, 2013

Cyprus: Bailout Should Have Come Sooner

Cyprus should have applied for an EU rescue package in 2011 to avoid the restrictive terms forced on investors to ensure support, its central bank governor said yesterday.

August 14, 2013

ECB: New Issuance of Debt Securities Totaled EUR 672 Billion In June 2013.

The annual rate of change of the outstanding amount of debt securities issued by euro area residents was -0.1% in June 2013, compared with 0.1% in May.

August 14, 2013

20,000 Bank Shops Have Closed Since Beginning of Crisis

60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.

August 12, 2013

Fitch: European Investors See Withdrawal of Bank Stimulus

More European investors now see the withdrawal of central bank stimulus as a bigger risk to European credit markets than eurozone sovereign debt problems.

August 9, 2013

Cyprus Is Showing Progress

According to estimates by its international creditors, Cyprus is showing progress at the reorganization of its state budget.

July 31, 2013

Slovenia Likely to Overcome Problems in Banking Sector

Slovenia’s problems in banking sector are controllable, according to experts.

July 31, 2013

Eurozone: Business Investments Decreased to 18.8 Percent

Business investment rate down to 18.8% in the euro area and to 18.3% in the EU27 Business profit share at 37.7% and at 37.2% respectively

July 31, 2013

47.5 Percent Compulsory Levy in Cyprus

Major investors are losing almost half of their assets.

July 30, 2013

ECB: No Risk of Deflation in Europe

The European Central Bank (ECB), in contrast to the International Monetary Fund (IMF), does not see the danger of a general downward trend in prices with all its negative effects for the economy.

July 29, 2013

Latvia: Saying Goodbye to the Lat

The introduction of the Euro in the Baltic country has been postponed due to the financial crisis. Latvia originally planned to join the single currency union in 2008 already.

July 26, 2013

Austria: Most Risks Do not Come from Eurozone

The greatest risks threatening a continued economic recovery in Austria currently stem from the global economic trend and, to a lesser extent, from the Eurozone, Ban Austria reports.

July 17, 2013

Slovenia Can Afford Bank Sector Cleanup Itself

Slovenia intends to use its own funds and avoid having to ask the Eurozone or IMF for aid to restore the stability of its banking sector, said the country's finance minister Uros Cufer.

July 10, 2013

Latvia: Joining the Eurozone

Lativa is becoming the 18th country in the Eurozone. The EU Economy and Finance Ministers have given their green light for the admission.

July 9, 2013
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