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Weekly Briefing: Newest Developments in Diplomacy and Vienna
Read about the latest developments in diplomacy in Vienna and Austria. The Georgian Prime Minister visited Austria and Vienna enables Ukrainian displaced persons to graduate from Ukrainian high school. In addition, Austria's Chancellor visited Israel and concluded an important agreement there. Furthermore, expats in Austria appreciate the high quality of life, but do not feel welcome. Read more about this week's developments.
July 14, 2022
Croatia's Euro Accession: "Great Advantages for the Domestic Economy "
As of 1 January 2022, Croatia will officially become part of the euro area. This holds great opportunities for Austrian companies.
July 13, 2022
The Consequences of the COVID-19 Pandemic for Austria's Economy
The consequences of COVID-19 pandemic continue to determine economic activity in Austria and the banks’ higher resilience has been key to COVID-19 response.
November 29, 2021
European Commission Forecasts GDP Growth for Austria
In its spring forecast, the European Commission has issued GDP growth rates for all its member countries as well as for the EU as a whole and the euro area. Read more to find out the exact rates.
May 17, 2021
Rating Agencies with Positive Outlook for Austria
Both Standard & Poors and Fitch have affirmed Austria's AA+ rating although noticing Austria's high spending for Covid-19 measures and assuming weaker economic recovery compared to the eurozone. Read more about the reasons for the ratings below.
May 10, 2021
Eurogroup President Donohoe Met Blümel
New Eurogroup President Donohoe and Austrian Finance Minister Blümel met at a round table discussion on "Europe's Comeback". Topics were the strength of a common currency union and strategies on how to achieve the economic comeback.
September 9, 2020
Economic Sentiment in Austria and the EU Brightened Further in August
Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
So What Does the Future Hold for the Eurozone?
The Eurozone between crisis and reform. At the Austrian Academy of Sciences, the renowned European financial experts Agnès Bénassy-Quéré, Klaus Regling, Elke König and Josef Zechner discussed the structure, challenges and necessary financial market reforms within the euro zone.
June 28, 2019
Eurozone Finance Ministers Welcome Austria's Budgetary Plans
The 19 members of the Eurozone welcome Austria's submission of an updated draft budgetary plan for 2018.
April 24, 2018
RBI: Grexit Still an Option
RBI analysts conclude in their latest risk analysis, that today’s summit agreement should not be taken as end to the risk of Grexit yet. If the agreement fails to clear the necessary parliamentary hurdles, the ECB could soon withdraw its support for Greek banks, forcing Greece out of the Euro. Even after a successful conclusion of negotiations the risk of Grexit could soon resurface: If the willingness of the Greek government to implement reforms declines again after the current pressure is reduced, todays crisis summit would be followed be new ones, whenever a new aid tranche has to be paid out.
July 13, 2015
Austrian Economy is Underperforming the Eurozone Average
Ernst & Young's latest analysis on the Eurozone forecasts that the Austrian economy is to grow 0.7% in 2015, underperforming the Eurozone as a whole for the second consecutive year. Investment is expected to remain subdued, while the contribution of exports will be only marginal as a consequence of the modest external environment.
June 24, 2015
EBRD Sees Mixed Outlook for CESEE Countries in 2015-16
The outlook for economies in central and south eastern Europe is improving on the back of eurozone monetary easing but prospects further to the east of the transition region have worsened, as the impact of Russia’s recession intensifies.
May 14, 2015
Austria: Right-Winged Extreme Party Buoyed by Tailwind
The Austrian right-winged Freedom Party (FPÖ) is using the disappointment over the grand coalition’s inability to tackle major economic issues to its advantage.
May 21, 2014
“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 2014
Croatia to Place New Eurobond by June
The Croatian government plans to issue a Eurobond until the beginning of June.
May 9, 2014
Fitch Upgrades Rating for Slovenia
Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.
May 2, 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
Austria: Industrial Production with Growth Potential
Austrian industry continues to grow - but somewhat less dynamically than at the turn of the year.
April 30, 2014
Poland: Growth Forecast Raised Again
The International Monetary Fund has raised the forcast of GDP growth in Poland.
April 9, 2014
Austria: Majority Does Not Trust Euro
Only 49 percent of Austrian citizens have faith in the Euro.
April 7, 2014
Poland: No Danger of Deflation
According to Marek Belka, governor of the National Bank of Poland (NBP), there is not threat of deflation.
April 7, 2014
Poland: Volatility on Financial Market Decreased
The volatility on the currency market decreased in March.
April 4, 2014
RBI: Economic Recovery Despite Geopolitical Tensions
Economic upswing vs. geopolitics.
April 4, 2014
CEE: Economy Could Become More Vulnerable to Crimea Crisis
If the political crisis in Crimea aggravates negative effects in the economy could soon become evident.
April 2, 2014
Austria: “Financial Crisis is Not Yet Over”
Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.
April 2, 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
Austria: Fitch Warns Banks of Risk with Business in Russia
The menacing sanctions against Russia with regard to the political crisis in Crimea could become a severe danger for Austrian banks.
April 1, 2014
Conwert to Withdraw from CESEE
The Vienna-listed real estate group wants to sell its assets in Central, Eastern and Southeastern Europe. The sales proceeds are expected to reach up to € 200m.
March 29, 2014
Poland: Good Starting Point for Economic Growth
Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.
March 26, 2014
Poland: Economy Proves Immune to Ukrainian Crisis
According to Governor of the Polish National Bank (NBP) Marek Belka, the Polish economy has so far proved stable and almost remained unaffected by the political crisis in Ukraine.
March 26, 2014
Poland: Promising Years Ahead
Poland observes the crisis in Ukraine with great concern, but does not forget to upgrade national resources.
March 25, 2014
Slovenia Looking for New Investors
In an attempt is looking for new investors the small Eurozone member country is starting a series of roadshows in Europe starting from Monday.
March 24, 2014
Low Inflation Still No Threat to CEE
Currencies in CEE should not be affected by low inflation, according to Erste Group.
March 19, 2014
Belka: Poland Should Not Haste into Eurozone
Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.
March 17, 2014
Wifo: Economic Recovery Lacks in Momentum
Economic growth in the Eurozone is still without a major drive. In Austria too, economic recovery is still restrained.
March 11, 2014
Polish Currency Still Affected by Ukrainian Crisis
The Polish Zloty continues to be unstable in the light of the political crisis in Crimea.
March 10, 2014
Poland Reconsiders Joining Eurozone
The current political crisis in Ukraine is also causing turmoil at the Polish financial markets letting the national currency drop significantly against the Euro.
March 5, 2014
S&P: European Banking Sector Faces Worse Ratings
According to the rating agency, the public support for the European banking sector is essential in many cases. Without financial support, banks might be downgraded.
March 5, 2014
Polish Financial Market Proves Strong
The financial market in Poland is resistant towards negative impacts resulting from the current political crisis in neighbor country Ukraine.
March 5, 2014
Fitch Keeps Slovak Rating Unchanged
Slovakia´s issuer default rating was kept unchanged at “A+”. The outlooks remain stable.
March 1, 2014
Erste Group: Profits Decline
Erste Group posts net profit of EUR 61.0 million in 2013 and improves capital ratios.
February 28, 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
CNB Not to Stop Monetary Interventions Just Yet
Exchange rates in the Czech Republic will not go back to the state before monetary interventions were carried out by CNB.
February 25, 2014
Austria: Inflation Drops Again
Inflation in Austria dropped to 1.5 percent in January due to the winter sales.
February 24, 2014
Austria: Wifo Projects Gloomy Economic Outlook
A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.
February 21, 2014
Fitch Keeps Rating for Austria at High Level
According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.
February 21, 2014
Zeman: Entry in Eurozone Delayed
In a speech to the Lower House ahead of the vote in confidence for the new government Czech President Milos Zeman expressed his dissatisfaction over the latest monetary intervention by the Czech National Bank (CNB).
February 19, 2014
Spindelegger Positive about Creation of Financial Transaction Tax
In the run-up to the beginning of the ECOFIN Council in Brussels, negotiations about the further proceeding of the financial transaction tax were held among eleven EU finance ministers.
February 18, 2014
Nowotny: Negative Interest Rate Conveys Feeling of Crisis
Ewald Nowotny, member of the Council of the ECB (European Central Bank) and governor of the Austrian National Bank (OeNB), expressed his rejection regarding a possible negative interest rate for banks.
February 18, 2014
Romania: Fit for Eurozone?
According to estimates by the Romanian government, the country is fit for joining the single currency union.
February 17, 2014
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