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EC European Commission

Indexation of Family Benefits: "There are no second-class children in the EU"

The EC European Commission opens an infringement procedure against Austria, as it pays families less child benefit if their children live in another EU country with a lower cost of living.

January 24, 2019

How to Eliminate Violence against Women?

In context with the UN-sponsored campaign "International Day for the elimination of violence against women", there are various initiatives against violence against women not only at the UN, but also in Brussels and Vienna. Federica Mogherini announced that the EU has decided to allocate an additional €5 million to support the projects of Nobel Peace Prize laureates, Nadia Murad and Dr Denis Mukwege. And the Austrian Foreign Ministry, together with the Austrian Integration Fund, is participating in the campaign "16 days against violence against women".

November 26, 2018

Danube Region Business Forum - Infrastructure and Its Implications on Business in CEE and SEE

The Danube Region is one of the traditionally important markets for Central European regions and companies. However, the infrastructure of this region does not yet meet the requirements of the economy. The 8th Danube Region Business Forum will take place on 9 October 2018 at the Austrian Federal Economic Chamber in Vienna. The aim of the forum is to ensure that the infrastructural quality and cooperations in the region meet the requirements of the economy.

October 3, 2018

Annual Report of the European Commission: How did Austria do?

The European Commission presented its annual reports on 27 EU member states. How did Austria do? Well, it kinda ended up with a black eye. The report took a pop at Vienna for a number of structural shortcomings, including tax burden on labour, pension and healthcare expenditures, house prices, restrictive regulation in the services markets, stagnating productivity and and not enough action on spreading digital technologies. That isn’t a particularly good report card for the previous coalition government of ÖVP und SPÖ. Let’s see if the new coalition government of ÖVP und FPÖ can make the grade the next time around.

March 11, 2018

The Western Balkans Remain a Priority of Austrian Foreign Policy

Because of a common history and the tradition of political, cultural and economic relations, Austrian foreign policy has always attached particular importance to the Western Balkans. The primary goal of Austrian foreign policy is to support the transformation of the Western Balkans area into a zone of stability. From the Austrian perspective there is only one option for the Western Balkans: a full European integration of the region. However, the political commitment from the regions' leaders is expected.

February 28, 2018

EU to Crack Down on Postal Rip-Offs including Austrian Post

The FT reports that Brussels is preparing a regulatory crackdown against rip-off pricing by national postal operators on cross-border parcel deliveries. According to a study, cross-border parcel deliveries are often five times more expensive than identical trips on the domestic market. While the price of a standard 2 kg parcel delivery in Austria with the national postal operator is €4.44, to have that same parcel send to neighbouring Italy would cost €14. Sending the same parcel back from Italy to Austria will rise to €25. In order to connect the common market, the EU wants to develop the potential of e-commerce and to boost cross-border trade. According to the FT, a spokeswoman of the European Commission said that early next year the Commission will “launch measures to enhance price transparency and regulatory oversight” of the European parcel delivery market.

December 22, 2015

Poland's Donald Tusk to Become European Council President

Current council president Herman Van Rompuy tweeted the announcement from the EU summit. Mr Tusk, Poland's centre-right prime minister since 2007, will become the European Council's president. Italy's Federica Mogherini, a centre-left politician and foreign minister will replace the UK's Catherine Ashton as EU foreign policy chief.

August 30, 2014

Albania Receives EU Candidate Status

At the General Affairs Council meeting in Luxembourg, Ministers from the EU Member States have agreed – based on the recommendation by the European Commission to grant EU candidate status to Albania, subject to endorsement by EU heads of states at the forthcoming European Council on Friday in Brussels.

June 26, 2014

Austrian EU Commissioner Hahn Blames British PM Cameron for Opening Doors to Ukip

Hahn argues, that David Cameron is to blame for his own defeat at the hands of the eurosceptic UKIP at the European elections.

May 31, 2014

Calls for European Energy Union Become Louder

Polish PM Tusk called for a European energy union. His Hungarian counterpart supports the idea.

May 9, 2014

Majority of Czech Entrepreneurs Want Euro

According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.

April 30, 2014

Czech Republic: Euro Support Still Weak

Almost a quarter of Czech citizens support the idea of joining the single European currency union.

April 2, 2014

Czech Republic: Government Refrains from Fiscal Discipline

In 2013, the budget deficit was down to 2.7% of GDP from 4.4% of GDP. In the next few years, the European Commission expects a trend reversal.

March 8, 2014

Poland: Fastest Growing Economy in EU

According to the EU Commission, Poland will see the fastest growth in 2014 among the largest former communist countries of the European Union.

February 26, 2014

Bulgarians Pessimistic about Own Future

More than 90 percent of Bulgarian citizens deem the country to be in an economically bad situation.

February 20, 2014

CESEE: Stuck in Transition or Just a Break?

Despite all difficulties in Central, Eastern and Southeastern Europe, the region remains essential for Austria. The long-term growth potential remains intact.

February 6, 2014 · Updated: February 6, 2014; 13:41

Romania Reaches Agreement With IMF

Romania has met the criteria to receive a stand-by agreement by the International Monetary Fund.

February 5, 2014

“No Real Wage Loss This Year“

In terms of real wages, Austria may face a trend reversal this year. In Southeastern Europe, by contrast, poverty is growing considerably.

January 21, 2014

Czech Fiscal Policy: Major Difficulties Ahead

Despite austerity measures, the Czech debt spiral was up considerably in the past years.

January 11, 2014

Czech Economy: Good Prospects for Sustainable Recovery

The Czech economy is expected to return to growth already in the first half of 2014. Growth will not be only based on exports.

January 10, 2014

Hungary Amending Figures of Budget Deficit

Hungarian Finance and Economy Minister Mihaly Varga announced that the budget deficit of 2013 will be below the target after it was lowered dramatically.

January 8, 2014

Romania: Slight Increase in FX Reserves

In December 2013 FX reserves increased slightly compared to the previous month.

January 7, 2014

Hypo Group: „The Wrong Decisions were Made“

Johannes Ditz, former chairman of the Austrian nationalized Hypo Group Alpe Adria, thinks that the Austrian government could have avoided a massive burden for the taxpayers.

December 28, 2013

Croatia Needs Major Bridge Loan

In order to cover its fiscal shortfall, the youngest EU member country takes a bridge loan in the amount of € 200m.

December 28, 2013

Austria: New Government Already Disappoints in the First Week

In 2014, Austria will not achieve its fiscal objectives, new Minister of Finance Michael Spindelegger admitted. Austria´s fiscal situation is observed critically. The country faces a new austerity package.

December 23, 2013

Banking Union Completed

The Finance Ministers of the Eurozone have reached a compromise on the last pillar of the banking union. The deposit protection mechanism will come into power in 2015.

December 19, 2013

Positive Respond to Slovenian Bank Recapitalization Plans

The European Bank for Reconstruction and Development responds positively to the results of the asset quality review of Slovenian banks and the corresponding plans of the government.

December 13, 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

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

“Bank Aid for Hypo Group Is too Late“

The Austrian economist Franz Hahn argues that capital injections into Hypo Group Alpe Adria are ineffective.

November 16, 2013

Slovenia: PM Takes International Bailout into Consideration

For the first time the crisis-struck Eurozone member country has admitted to consider international bailout as an option for its ailing banks.

September 26, 2013

EU Commission: Poland Lacks in Innovation and Work Efficiency

According to the EU Commission’s annual report on the competitiveness among the EU member countries, which was released on Wednesday, Poland has been improving its competitiveness.

September 26, 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

EU Commissioner Füle Encourages Albania

EU Commissioner Štefan Füle discusses Albania's path to EU with new PM

September 18, 2013

Barroso: “Albania’s Future Is in The European Union”

President of the EU Commission Barroso is confident about Albania’s commitment.

September 17, 2013

Austria: Spindelegger in Favor of “Creative Model“ for Banks

Deputy Chancellor Spindelegger seems willing to lead open discussions about the extension of bank levies.

September 6, 2013

Hypo: New Risky Loan Agreements Even in 2012

According to the EU Commission, risky loans were granted by ailing Hypo Group even in 2012.

September 3, 2013

EU Commissioner Sees First Signs of Economic Turn-Around

EU Commissioner for Economic and Monetary Affairs Olli Rehn can see the first signs of an economic turn-around in the European Union.

August 29, 2013

Polish Airline LOT Puts Pressure on Boeing

Polish carrier LOT is threatening Boeing with claims for compensations. Dreamliner purchased by the airline company were faced with weeks of grounding due to a series of technical problems. Losses are estimated in the amount of up to € 25m.

August 23, 2013

Romania: Without Nabucco, Better Chances for Higher Pay-Out for Transgaz

This year's tariffs revisions are better suited to protect the company for the drop in gas consumption, thus RBI sees lower risk of unrealized revenues.

August 20, 2013

Slovenian PM Convinced Agreement on 2014 Budget Will Be Reached

Slovenian Prime Minister Alenka Bratusek is convinced an agreement will be reached regarding changes to the 2014 budget

August 13, 2013

Commerzbank: Austria to Miss Budget Goals

Without a new austerity package, Austria will run up more debts than calculated in the bugdet plan, German Commerzbank says. The country’s AAA ratings are likely to decrease.

August 12, 2013

Romania’s Economic Recovery Expected to Strengthen.

Staff teams from the International Monetary Fund (IMF), the European Commission (EC), and the World Bank visited Bucharest Romania during July 17–31.

August 1, 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

47.5 Percent Compulsory Levy in Cyprus

Major investors are losing almost half of their assets.

July 30, 2013

Bulgarian Deputy PM: “They Want Social Justice“

In an interview with Austrian newspaper Standard, Bulgarian Justice Minister and Deputy Prime Minister Zinaida Zlatanova (40) talks about the reasons for the protest movement, planned reforms and critizism from abroad.

July 27, 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

Czech Republic: Gloomy Prospects for Economy

The Czech economy is shrinking. According to experts, new Prime Minister Jiri Rusnok will not be able to change much. Enterprises have started to cut back on investments.

July 12, 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

Slovenia’s Banking Sector Threatened by Delay of Bad Bank-Transfers

After the EU Commission denied approval for the first transfers of bad loans to the bank asset management by June 28, the reorganization of the banking system in Slovenia has been postponed.

July 9, 2013
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