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Nowotny: No Euro-bonds Yet

Although he supports the euro-bonds in principle, the time has not come yet for the Governor of the Austrian National Bank.
December 10, 2010


Corruption in Austria: 9% Pay Bribes

Austria follows the international trend of growing corruption. 25% are ready to pay bribes worldwide.
December 10, 2010
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Austrian Economic Chamber Supports Development of the Danube as a Transportation Route

Austrian Economic Chamber President Christoph Leitl supports the EU's Danube region strategy to expand infrastructure between the Danube countries.
December 10, 2010


Austrian Resistance Against Euro Bonds

Massive criticism comes from Germany, the Netherlands and Austria against the proposal to implement euro bonds to stabilize the currency in the EU.
December 8, 2010
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Strong Growth in Foreign Trade

In the first nine months, Austria imported goods for € 82.45bn (+14.8%). Exports increased by 5.8% to € 79.69bn.
December 8, 2010


Nowotny Pleads for Euro-Bonds

The governor of the Austrian National Bank, Ewald Nowotny, is for the introduction of euro-bonds. Germany’s resistance is pre-programmed.
December 6, 2010


Leitl Vehemently Defends Euro Protection Shield

The President of the WKÖ (Austrian Federal Economic Chamber), Christoph Leitl, gives a clear answer to the euro critics: without the euro, Austria would have become a problematic case in 2009.
December 6, 2010


EU Growth Forecast: Austria Slightly Over Average

The EU Commission has revised its growth forecast for 2011 slightly upwards. Austria stays at 1.7% in the above average area.
November 30, 2010


OeNB Governor Nowotny Approves of Ireland Protection Measures

The governor of the Austrian National Bank says the decisions on Ireland and the European stability mechanism are positive.
November 29, 2010
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Europe's Public Debt and Unemployment Remain High

Austrian Institute of Economic Research: The revival of the EU states, driven by expansionary economic policies and export growth, is ebbing.
November 25, 2010


Walter Grahammer Becomes the New Austrian Ambassador in Brussels

Previously, Grahammer acted as Head in the Ministry of Foreign Affairs.
November 24, 2010


Study: Agricultural Subsidies Produce No Growth

The Austrian Institute of Economic Research has determined that growth in the Austrian regions is accelerated by EU regional promotional financing, but not by agricultural subsidies.
November 18, 2010


Industry Welcomes EU Energy Infrastructure Package

Secretary General of the Federation of Austrian Industrialists, Markus Beyrer: the package is also important to achieve energy and climate objectives.
November 17, 2010


OeNB Governor Nowotny "During the Crisis, the Euro Acted as a Protection Shield Beyond the Euro Area"

The Governor of the Austrian National Bank, Ewald Nowotny warns to fiscal discipline and talks about economic challenges and opportunities in Europe.
November 15, 2010
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Strabag: Major Contract in Romania for 220 Million Euro

A consortium led by Austria's Strabag has won a contract to build a Romanian motorway for 220.6 million euro.
November 11, 2010


Protectionism in Favor of Casinos Austria and Novomatic?

The licenses for lotteries and casinos after 2011 are already reserved for Novomatic and Casinos Austria, is the allegation.
November 3, 2010


AUA Flights to Russia Secured

While the problem of AUA landing rights in Russia has been solved for Lufthansa until March, Austria is being accused of breach of contract by the European Commission.
October 29, 2010


EU Funds to Finance Brenner Tunnel until 2015

The European Commission has extended its partial financing commitment for the Brenner tunnel. However, appropriate measures must be taken soon. Deliberations are still underway at present.
October 28, 2010


AUA Flight Rights in Russia: EU Proceedings Against Austria

Due to the so far preferential treatment of Austrian Airlines in Russia, Austria is now accused by the European Commission of breach of contract.
October 27, 2010
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Flexible Working Hours: Top Position of Austria in Europe

Both employers and workers benefit from what the crisis achieved, according to the EU Commission. However, additional flexibility does not bring in itself greater equality.
October 27, 2010


IMF Considers Recovery as "Moderate and Uneasy"

Growth in Europe seems to be normalizing slowly. Dynamism is missing though, and many vulnerabilities are as yet unresolved.
October 20, 2010


Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.
October 18, 2010


EU: Austria's Actual Net Contribution has Risen to 342 Million Euro

The net contribution to the EU rose again last year. Poland, with 6.5 billion euro is for the first time the biggest net recipient. Germany remains the biggest net payer with 8.1 billion euro.
September 28, 2010


Albania - Green light for new power plant of Verbund and EVN

The EU's competition authorities have approved a joint power plant project of Verbund and EVN in Albania.
August 20, 2010
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Banks' equity - "Basel III costs 46 000 jobs"

The stricter rules for the equity of banks will reduce lending by up to 20 percent, says the Institute for Advanced Studies (IHS) in Vienna.
July 21, 2010


Hungary rejects additional austerity measures

Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.
July 19, 2010


EURO - Confidence returns

Patient Euro is on the road to recovery. Europe's debt crisis and the financial problems mainly of Greece greatly affected the exchange rate earlier this year. Now, the Euro regains strength. After the low of $1.18, the Euro recovered step by step rising
July 16, 2010


Defying EU fusion reactors

According to calculations of the Green Party Federal Councillor Elisabeth Kerschbaum the project costs Austria €158m.
July 15, 2010


Pröll on economic status quo, "thunder and lightning are over"

The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.
July 12, 2010
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EU - Austria granted to extend bank aid package

The European Commission extended the authorization for the Austrian bank rescue package of €100b ($123b) for half a year.
June 25, 2010