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Does the Euro Collapse Now? (Part 1)
The nervousness among Europe´s leaders is growing. Not only Finland warns of a breakdown.
August 17, 2012
Austria Faces No Recession Yet
According to a flash estimate for the second quarter of 2012, the Euro area and EU27 GDP was down by 0.2%.
August 14, 2012
Serbia: Struggle for Central Bank Sharpens
After the resignation of governor Dejan Soskic, the EU warns Serbia of abolishing the independence of the Serbian Central Bank.
August 6, 2012
Telekom Austria Reconsiders Takover of „Yesss!“
The takeover of Hutchison/Orange and Telekom Austria/Yesss! becomes difficult. After the new EU requirements, Telekom Austria wants to examine the acquisition again.
August 4, 2012
Stable Retail Trade in Austria
In June 2012, the Volume of retail trade up by 0.1% in euro area was down by 0.3% in EU27.
August 3, 2012
New Unemployment Record in Eurozone
The Euro area unemployment rate came at 11.2% in June 2012. Austria leads the ranking.
July 31, 2012
Austria: Guarantees Reach Half of Public Debt
Among EU members, only Ireland has more guarantees as a percentage of GDP.
July 30, 2012
Spindelegger: “EU human rights policy has been given a voice and face”
Austria’s Foreign Minister congratulates Stavros Lambrinidis on his appointment of EU Special Representative for Human Rights.
July 30, 2012
Government Puts Kommunalkredit for Sale
The nationalized Austrian lender Kommunalkredit should be sold until 2013. Offers must be to submit to Morgan Stanley until August 16.
July 26, 2012
EU: "Growth without New Debt"
Austrian State Secretary Wolfgang Waldner at the General Affairs Council in Brussels: “Further intensive work on Europe in the next six months under Cypriot EU Presidency”
July 25, 2012
EU Commission Approves Orange Takeover
The Hong Kong-based telecommunication company Hutchison is allowed to acquire the third-largest player in Austria.
July 23, 2012
IMF: Doubt on Hungary´s Economic Data
For the IMF, the budgetary forecasts are too optimistic. The negotiations on the € 15bn loan continue.
July 23, 2012
Bank Insolvency Law: No Austrian Solo Run
Austria´s government changed its mind. There will be no national bank insolvency law. Austria will wait for a European solution instead.
July 23, 2012
Rise in Public Debt Unstopped
In the Euro area, government debt was up to 88.2% of GDP. 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 23, 2012
"Wage Cuts in Southern Europe Inevitable"
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies thinks that a fiscal union will not work. The recession in Southern Europe will go on.
July 21, 2012
Hutchison: „Telecommunication Network Overburdened in Two Years“
Jan Trionow, CEO of Hutchison Austria, appeals on authorities to approve the takeover of the competitor Orange. The Austrian telecommunication network will face capacity problems soon.
July 21, 2012
Hutchison´s CEO: „Austria Benefits from Merger“
Hutchison Austria still holds on the acquisition of the third largest telecommunication service supplier Orange.
July 19, 2012
Austria Has Fourth Biggest Net Surplus
The EU27 current account shows a deficit € 4.1bn. € 31.1bn surplus for trade in services.
July 19, 2012
Nowotny: „Germany Has Key Function“
The governor of OeNB (Austrian Central Bank) is against forced loans in Austria. Regarding Eurobonds, Germany as Europe´s biggest economy would have the key function.
July 18, 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
Bulgaria Aims to Join Eurozone
Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.
July 16, 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
“The time has come to design the EU of the 21st century”
„Europe – Quo Vadis?“ The Austrian Foreign State Secretary Waldner opens the Forum Europe in Styria with a keynote speech.
July 16, 2012
EU – An Escape for Serbia?
The economic prospects for Serbia are gloomy. The priority of the new Serbian government is to join the European Union.
July 14, 2012
Income Grows Slower Than GDP
For years, the increase in wages and salaries is lower than the rise in company profits.
July 14, 2012
Austrian Foreign Trade Figures Flattening
After record results in 2011, the growth in Austrian foreign trade was substantially down in the first months of 2012. Austrian politics promotes exports to non-European markets like China, Brazil and the U.S.
July 12, 2012
Slovenia Remains in Recession
According to estimations, the recession in Slovenia will sharpen this year. A turnaround is expected in 2013. The banking sector is an enormous burden for the Souteastern European country.
July 12, 2012
Crossing Borders - Expectations towards Europe
From Date: Saturday, September 1, 9:00 am to 2:00 pm, the Alpbach Closing Event “Crossing Borders - Expectations towards Europe” takes place.
July 12, 2012
Austrian Banks Fulfilled EBA Requirements
The European Banking Authority published today an overview report on the implementation of the capital exercise. The vast majority of the banks in the sample meet the required ratio of 9% Core Tier 1 (CT1).
July 11, 2012
Austrian Industry Urges Government to Continue Austerity Policies
The Austrian government has to perform its job in order to retain competitiveness and economic growth in future. Finance Minister Fekter is highly satisfied with the government´s economic report.
July 10, 2012
ESM Approved by Austrian Parliament
The controversial European Stability Mechanism was ratified by the Austrian National Council. The right opposition parties criticized the approval massively.
July 6, 2012
Alpbach Forum “Lobbying and Networking in the European Union”
From Saturday, August 25, 9:00 a.m. to Sunday, August 26 1:45 p.m, the Alpbach Forum will deal with lobbying and networking in the EU.
July 5, 2012
Austria Leads European Employment Rankings
Regarding regional unemployment and total unemployment, Austria ranks first. The youth unemployment rate is the second-lowest in the EU.
July 4, 2012
Banking Supervision: Satisfaction and Criticism
Austrian Members of the European Parliament welcomed the decisions taken by the euro summit. By contrast, the opposition party FPÖ criticizes the result as „final step towards a debt union“.
July 3, 2012
„ECB as Only Supervisor Not Likely“
OeNB`s (Austrian Central Bank) Governor Ewald Nowotny does not think that ECB will act as only banking supervision authority.
July 2, 2012
Austria Ratifies ESM
The government parties SPÖ and ÖVP got support by the oppositional Green Party. The remaining opposition parties criticized the „loss of sovereignty“ massively.
July 2, 2012
Strong Increase in Unit Labor Costs
Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.
June 29, 2012
Orange Sale: EU Commission is Concerned too
After the Austrian Federal Competition Authority (BWB) expressed its concerns about the acquisition of Orange by Hutchison Austria, the EU Commission announces to deepen its examination.
June 29, 2012
Euro-Crisis Continues
According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.
June 29, 2012
Austria´s Fischer Absolved State Visit in Armenia
The Austrian President Heinz Fischer met his Armenian counterpart Serzh Sargsyan. Both heads of states agreen on deepening economic and cultural relations.
June 28, 2012
Spindelegger: „Austria Must Delegate Competencies“
The Austrian Vice Chancellor and chairman of ÖVP Michael Spindelegger wants the centralize the European Union.
June 27, 2012
Leitl: „Securing Austria´s Top Ranking“
WKO´s President Christoph Leitl calls for reforms. In order retain Austria´s economic position, reforms should be accelerated and taxes should be cut.
June 27, 2012
Austria Still Blocks Agreement on Taxation of Interest Income
The Commission of the European Union wishes Austria to give up its blockade against a reform of the direction on the taxation of interest income. Austria stands by its oppositional attitude.
June 27, 2012
EU Discusses Growth and Employment Pact
Austria´s State Secretary Waldner at the General Affairs Council in Luxembourg: „Putting and end to the negative spiral“.
June 27, 2012
Austria Appreciates Opening of Accession Negotiations
After the beginning of the accession negotiations with the EU, the Austrian government congratulates Montenegro.
June 26, 2012
Austria Among More Expensive EU Countries
In 2011, the price levels varied from 51% of the EU27 average in Bulgaria to 142% in Denmark. Austria came at 107%.
June 26, 2012
Schwarzenberg: „Czech Republic Should be Europe´s Hard Core“
The Czech Minister of Foreign Affairs thinks that the Czech Republic should be among the EU´s core nations. This would be the only useful alternative for the country, Schwarzenberg says.
June 26, 2012
„The end of the Euro would mean Europe´s Explosion“
Ewald Nowotny, governor of the Austrian Central Bank (OeNB) reaffirms that Europe needs the Euro.
June 25, 2012
Treichl: „Europe Does Not Need the Euro“
Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.
June 25, 2012
Nowotny: „Bank Aids Rescue Economy“
The governor of the Austrian Central Bank OeNB underlines the necessity of the bail-out of Spanish banks.
June 23, 2012
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