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Austrian Industry: „Growth Instead of Redistribution“

After the Austrian Chamber of Labor claimed he Federation of Austrian Industry underlines that Austria has the highest redistribution quota among OECD members.

May 30, 2012

Exposure in Eastern Europe Remains Austria´s Weak Point

The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.

May 30, 2012

Austrian Proposal for EU Growth and Innovation Fund

In-depth discussion at the General Affairs Council on the multi-annual financial framework of the EU. Austria pushes for more economizations.

May 30, 2012

Switzerland: Resistance Against Tax Deal with Austria

Swiss parties are against the tax agreement with Austria. The social democrats and the Swiss People´s Party oppose the plan.

May 29, 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

"Europe Needs Economic Growth and Budget Discipline“

Structural reforms are necessary to make Europe sustainably more competitive, Christoph Leitl, President of Austria´s Chamber of Commerce (WKO) says.

May 26, 2012

Fekter Emphasizes: „Eurobonds Do Not Solve Debt Problem“

Maria Fekter, Austria´s Minister of Finance, thinks that the idea of common bonds is no real solution, but only symptom fighting.

May 26, 2012

Fekter: “Strengthen Partnership with Eastern Neighbours”

Austria´s Finance Minister Maria Fekter emphasizes the necessity of a closer political and economic integration needed with partners in the East.

May 26, 2012

The Euro – A Big Error (Part 2)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 23, 2012

Austrian Industrial Sector Pushes for Austerity

The Federation of Austrian Industries sees still a huge potential to reduce public expenses and underlines the importance of the industrial sector.

May 22, 2012

Fekter: Hollande´s Suggestions are “Nonsense”

Vice-Chancellor Spindelegger and Finance Minister Fekter are strictly against the introduction of Eurobonds and any amendments of the Fiscal Treaty.

May 22, 2012

Rothensteiner: Return to Drachma would be „Utter Chaos“

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

May 21, 2012

The Euro – A Big Error (Part 1)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 20, 2012

Downsizing Program at Hypo Tirol

After the major losses in 2011, the Austrian regional bank is obliged to withdraw from Germany, Switzerland and Italy.

May 19, 2012

Bank Secret: EU Commission is Frustrated

The European Commission is dissatisfied with Austria´s and Luxembourg´s blockage of the interest taxation directive.

May 16, 2012

Austria´s Bank Secret Endangered

„I will withstand.“ Maria Fekter, Austria´s Minister of Finance said. The resistance against the EU directive on the taxation of interest will not be given up, Fekter reaffirmed.

May 15, 2012

Passenger Growth: Vienna Airport Ranks Second

Regarding growth in number of passengers, only Copenhagne Airport could record a higher increase than Vienna Airport.

May 14, 2012

„Combining Austerity and Growth Measures“

The Austrian Minister of Economics and the President of the Austrian Chamber of Commerce claim a European growth strategy without turning down austerity policies.

May 11, 2012

Constant Rise in Austrian Research Spending

Austrian spending on research and development is set to increase by 4.2% in 2012 to reach € 8.6bn.

May 10, 2012

Raiffeisen Against Bank Insolvency Act

The Austrian government announced to introduce a bank insolvency act in summer. Raiffeisen wants a European solution.

May 9, 2012

Orange Takeover: T-Mobile Claims Legal Restraints

According to the Austrian subsidiary of Deutsche Telekom, the takeover of the third-largest Austrian telecommunication service provider would lead to a distortion of competitions.

May 8, 2012

Leitl: „EU Needs Budget Consolidation and Growth Measures“

The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.

May 5, 2012

Decent Growth in Austrian Retail Trade Sector

Sales rose by 2.3% for Austrian retail trade in the first quarter 2012.

May 4, 2012

ESM: The Final Ruin of Europe

Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.

May 2, 2012

Austrian Unemployment Still Lowest in EU

The EU unemployment rate rose to 10.9% in March 2012 from 9.9% the year before. Since 2000, taxes on labor rose dramatically in Austria.

May 2, 2012

Unemployment Rises by 6.7%

In Austria, the number of unemployed persons rose up to 321,817 in April. Simultaneously, employment reaches a new record level.

May 1, 2012

Austria Strengthens Political and Economic Cooperation with South Asia

The Austrian State Secretary Wolfgang Waldner attends 19th EU-ASEAN Ministerial Meeting in Brunei.

April 30, 2012

“Russia now among top 10 Austrian Trading Partners”

Austrian Foreign Minister Spindelegger meets with Russia’s Deputy Prime Minister Zubkov.

April 25, 2012

Austria Wants to Raise Efficiency in EU Funds

The Austrian State Secretary Waldner participates in the negotiations of the EU financial framework 2014-2020 and calls for setting a regional and environmental course.

April 25, 2012

Austria to Intensify Cooperation with Croatia

The Austrian Minister of Economics met his Croatian counterpart in Vienna. Above all, the EU-accession and investments were discussed.

April 24, 2012

Labor Costs: Austria in the Upper Third

Hourly labor costs ranged between € 3.5 and € 39.3 in the EU27 Member States. In Austria, labor costs reach € 29.20.

April 24, 2012

Austrian Ministry of Finance Records Higher Tax Intake

In the first three months of 2012, tax proceeds were up by 3.8%. The Ministry of Finance registered revenues of € 16.2bn.

April 23, 2012

Fekter meets British Chancellor of the Exchequer Osborne

The Austrian Minister of Finance Maria Fekter and George Osborne talked about Basel III, the EU budget and taxation.

April 23, 2012

Maastricht Criteria: Austria in the Middle Field

In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.

April 23, 2012

Waldner: “Germany and Austria are Role Models in the Eurozone“

The Austrian State Secretary Wolfgang Waldner had a work meeting today with his colleague in the German Federal Foreign Office, Minister of State Michael Link.

April 23, 2012

Waldner Wants Closer Cooperation with Spain

Austrian State Secretary Waldner is meeting his counterpart in the Spanish Foreign Ministry, State Secretary Gonzalo de Benito Secades, and EU State Secretary Inigo Mendez de Vigo today.

April 19, 2012

Roiss Claims European „Fracking“ Strategy

OMV´s CEO Gerhard Roiss calls for a common strategy to exploit shale gas. The European industrial sector should become more competitive.

April 18, 2012

Mitterlehner: „AAA is still Far Away“

Austria´s Minister of Economics does not believe that S&P gives back the “AAA” rating soon. However, the debate about Austria´s rating is overvalued, he thinks.

April 17, 2012

Austria Supports EU Capitalization Plans for Banks

Regulators in the European Union may be allowed to impose capital surcharges on banks

April 17, 2012

Austrian Inflation Slightly Down

In March, a decrease of the Consumer Price Inflation to 2.4% was observed.

April 17, 2012

Tax Deal Fiercely Criticized

Last week, Austria concluded a tax treaty with Switzerland. For experts, the deal does not solve the main problems.

April 16, 2012

Hypo Tirol: NPL Quota at 37%

The Tyrolean regional bank recorded losses of € 125m last year. The owner, the province of Tyrol has to inject further capital.

April 16, 2012

Austrian Economy on Moderate Growth Course

Bank Austria Forecasts table growth until summer followed by chances of an upswing. Austria could achieve GDP growth of 0.8 percent in 2012 and 2 percent in 2013.

April 16, 2012

Waldner: “Serbia Needs to Continue its Approach to the EU Unwaveringly”

Wolfgang Waldner, Austrian State Secretary is on a working visit in Belgrade.

April 12, 2012

Nowotny Ask For Alternative to Financial Transaction Tax

The governor of the Austrian Central Bank (OeNB) sees a good sign in Austria´s low interest rate on sovereign bonds. The introduction of a European financial transaction tax is unrealistic, the governor says.

April 11, 2012

Financial Transaction Tax: Schieder Raises Pressure on EU

Austria´s Financial State Secretary Andreas Schieder threatens to vote against higher EU contributions. To discuss about alternatives of the financial transaction tax is “too early.”

April 10, 2012

„Natural Gas to Become Most Important Energy Source“

Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.

April 7, 2012

Tax Intake Higher Than Expected

In the first two months of 2012, the Austrian state received € 460m more tax proceeds than initially expected.

April 6, 2012

EU: Austrian Labor Costs Rose Decently

Since 2000, Austrian labor costs rose by 40%. Among the 27 member states, Austria ranks 22th.

April 5, 2012

EU Approved Joint Venture between Agrana and Ybbstaler

The EU Commission granted Agrana and RWA Raiffeisen Ware Austria the green light for the merger of their fruit juice concentrates subsidiaries.

April 5, 2012