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ESM

Austria: Oppositional FPÖ Wants Return to Shilling

The largest Austrian opposition party wants to leave the Eurozone.

December 7, 2013

Slovenia: Stress Tests Result Published on December 13

Bostjan Jazbec, governor of the Slovenian National Bank (SNB), is optimistic that no Slovenian bank will have to be liquidated.

November 23, 2013

Banking Sector: Pressure on Slovenia Grows

The IMF calls Slovenia to re-capitalize the banking sector immediately. However, Slovenia´s financial situation is already more than tense.

October 29, 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

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

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

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

Slovenia Cannot Escape the Vicious Circle

Slovenia still aims to manage its banking crisis on its own. After the new economic forecast issued by Slovenia´s National Bank, this aim suffers another setback.

October 10, 2013

Slovenia: Asset Quality Deteriorates Rapidly

The government of the financially stricken country comes more and more under pressure. In meantime, about 17% of the Slovenian loans are classified as “risky”.

October 1, 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: 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

Slovenia Faces New Elections

The Slovenian government is under massive pressure. A government collapse is more than likely.

February 11, 2013

Slovenia: Jansa Rejects to Step Down

Despite the deep political and economic crisis, Slovenia´s Prime Minister Janez Jansa is clinging to power.

January 25, 2013

Slovenia: Government Collapses

Yesterday in the evening, the conservative coalition member CL has terminated the co-operation with Prime Minister Janez Jansa´s party SDS. Not only the political situation in Slovenia is precarious, but also the economic outlook is highly uncertain.

January 24, 2013

Slovenia: Sustersic Rules Out Coming Under Rescue Umbrella

In an interview with the Austrian news magazine “Standard”, Slovenia´s Minister of Finance Janez Sustersic says that his country is not candidate for the safety net ESM.

December 28, 2012

Lopatka: “Communitisation of debts is the wrong message”

State Secretary Lopatka lacks understanding for proposals made by Federal Chancellor Faymann.

December 17, 2012

Czech Republic: Klaus Rejects ESM

Czech Republic´s President refuses to grant consent to the ESM bill.

December 7, 2012

Slovenia Still Rules Out Calling for Rescue

The Slovenian government tries to prevent to be bailed out by the EU and IMF by all means. However, experts fear that Slovenia is the next candidate for the safety net.

November 10, 2012

FPÖ Files Suit Against ESM

The biggest Austrian opposition party files a legal complaint against the European Stability Mechanism (ESM) at the Austrian Constitutional Court.

October 15, 2012

Fekter Welcomes Entry into Force of ESM

Austria´s Minister of Finance "No cause for celebration, however, as we are still in the middle of stabilising the Eurozone."

October 10, 2012

ESM: Slovakia Pays € 264m

In October, the Slovak government will transfer € 264m to ESM. This will be the first two installments.

October 4, 2012

IMF Puts Pressure on Slovenia

Slovenia is urged to implement quick reforms. Otherwise the country may have to be bailed out by the safety net.

October 3, 2012

Slovenia “No Bail-Out Candidate”

Slovenia ´s former Prime Minister Anton Rop is optimistic that the country will manage the crisis.

September 27, 2012

Waiglein Becomes Director of ESM

Austria´s Minister of Finance Maria Fekter mandates Harald Waiglein as member of the board of directors.

September 22, 2012

Westerwelle and Sikorski Want a Stronger EU

The German and the Polish Ministers of Foreign Affairs wrote a common article in The International Herald Tribune.

September 19, 2012

Fekter: “Spanish Banks Need € 60bn”

According to Austria´s Minister of Finance Maria Fekter, the European Union focuses on Spain. A Greek exit would be no issue anymore.

September 18, 2012

Nowotny: „Fiscal Union Still Far Away“

Ewald Nowotny, governor of OeNB (Austrain Central Bank) does not believe in a quick implementation of the fiscal union.

September 17, 2012

Slovenia´s ESM Contribution to Reach € 137m

Until the end of October, Slovenia has to pay € 137m to the European Stability Mechanism.

September 15, 2012

ESM: Austrian Budget Has Already Appropriated the funds

Austria´s share in the ESM comes to € 19.5bn. The capital share is about € 2.2bn. The Austrian Finance Ministry underlines the importance of the ESM.

September 14, 2012

„The situation is inconvenient, but not dramatic“

In an interview with the Austrian newspaper Kurier, the Austrian Minister of Economics Reinhold Mitterlehner underlines that “we must keep our nerves”.

September 13, 2012

Banking Union: Poland Demonstrates Skepticism

Yesterday, the EU-Commission has made proposals regarding the banking union. The decision making process for non-Eurozone members would be unclear.

September 13, 2012

Spindelegger Welcomes ESM Decision

“Final start signal for euro rescue fund.” The Austrian Minister of Foreign Affairs is happy with the decision taken by the German Constitutional Court.

September 13, 2012

Austrian Chamber of Economics Supports ESM Decision in Germany

Austria´s Minister of Economics Reinhold Mitterlehner: “The decision of the German Constitution Court is an important signal for investments and will promote growth.”

September 12, 2012

Fekter: “Relieved to have a clear Judgement”

Austrian Finance Minister Maria Fekter delighted at decision on ESM by German constitutional judges.

September 12, 2012

Slovenian Crisis: Opposition Reassures

Recently, Prime Minister Janez Jansa warned of a national bankruptcy. For the opposition, Slovenia is far from declaring its illiquidity.

September 11, 2012

Slovenia: Juncker Calls for Reforms

The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”

September 10, 2012

Nowotny Hopes for ESM

The governor of OeNB (Austrian Central Bank) thinks that the bond purchases are not sufficient. Politics must help ECB, he argues.

September 10, 2012

Merkel and Faymann Reaffirm their Commitment to the Euro

The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.

September 8, 2012

Slovenia: „Irish or Greek Way“

The Slovenian economist Egon Zakrajsek explains that Slovenia´s illiquidity only a question of time. The problem banks should be sold, he recommends.

September 5, 2012

„Europe Is Stronger than Many Think”

Austria´s Federal President Heinz Fischer thinks that the exclusion of certain member states out of the Eurozone is “highly problematic”. In two or three years, the crisis in the Eurozone is managed, he believes.

September 3, 2012

FPÖ Wants Nowotny to Resign

The biggest Austrian opposition party criticizes the governor of Austrian Central Bank (OeNB) sharply. FPÖ´s leader Strache blames Nowotny to violate the “no bailout” clause.

September 1, 2012

Slovenia in a Vicious Circle

Slovenia´s Prime Minister Janez Jansa warns that his country may has to announce its national bankruptcy in October.

August 31, 2012

Faymann Against Breaking Up the Eurozone (Part 2)

At the Alpbach Economic Symposium 2012, Austria´s Federal Chancellor Werner Faymann underlines the “advantages of the EU”. Without the euro, Austria would face a dramatic recession, he warns.

August 30, 2012

FPÖ´s Strache Calls for Leaving Eurozone

Heinz-Christian Strache, chairman of the Austrian oppositional freedom party (FPÖ), suggests an Austrian exit.

August 29, 2012

Austrian Guarantees Total € 80bn

In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.

August 27, 2012

Nowotny Wants Bank License for ESM

The governor of OeNB (Austrian Central Bank) Ewald Nowotny told the news agency Bloomberg that there would be some good reasons for this solution.

July 26, 2012

Constitutional Court: ESM Examination Takes up to 6 Months

According to the biggest Austrian opposition party FPÖ, the European Stability Mechanism violates the Austrian constitution.

July 25, 2012

Fischer Signs ESM and Fiscal Pact

The Austrian Federal President Heinz Fischer approves the parliamentary referanda on the highly controversial ESM and Fiscal Pact. Now, only a constitutional complaint may prevent these issues.

July 17, 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