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Eurozone

ESM Charges € 262 From Every Austrian

The establishing of the European Stability Mechanism (ESM) burdens every Austrian citizens with an average amount of € 262. Luxembourg is the country contributing the most per capita followed by Ireland.

September 24, 2013

Slovenia in a Decisive Phase

According to Bostjan Jazbec, Govenor of the Bank of Slovenia, the coming weeks will be critical for the small Eurozone member country.

September 23, 2013

Austria: Tax Burden Grows

The Austrian public revenue ratio is significantly above the average tax quota in the Eurozone. The upward trend goes on.

September 21, 2013

Poland: Industrial Output Indicates Upswing

In August, Poland´s industrial production was up for the third month in a row. Due to the growing exports to the Eurozone, Poland is recovering.

September 18, 2013

Romania: Austrian Investors Demand Transparency

In an interview with Business Review Romania, Rudolf Lukavsky, commercial counselor for Romania and Moldova at the Austrian Embassy described the downsides and advantages of the economic environment in the country.

September 17, 2013

Eurozone: Moderate Decrease of Inflation

Euro area inflation was 1.3% in August, down from 1.6% in July

September 17, 2013

Eurozone: Industrial Production Decreased 1.5 Percent

Industrial production fell in fifteen EU member states.

September 13, 2013

Eurogroup Grants Cyprus Further € 1.5bn

Payments will be made at the end of September

September 13, 2013

Romania: Construction Industry to Grow by 1.9 Percent

The growth rate in the construction industry is even higher than economic growth in real terms.

September 12, 2013

Slovenia: Employment Outlooks Deteriorated

Outlooks for Slovenian jobseekers have darkened. According to a recent survy of temporary employment company Manpower presented on Tuesday, employment outlook has dropped from 7 percent to zero.

September 11, 2013

Austria: Weak Growth Impulses

Today, the Austrian Institute for Economic Research (Wifo) has corrected the economic outlooks for Austria downwards. Growth impulses have been very weak so far.

September 10, 2013

Slovenian Exports Increased by 2.3 Percent

According to provisional data for the period from January to July 2013 compared to the same period of 2012 Slovenian exports increased by 2.3% while imports decreased by 0.1%; the export/import ratio was 97.6%.

September 10, 2013

Slovenia Shuts Down Two Small Banks

In order to ensure the stability of its financing sector, Slovenia decided to liquidate two banks, Factor Banka and Probanka. According to state officials, the step was also taken to avoid international bailout.

September 9, 2013

Eurozone: Slight Increase of Industrial Production

Cyprus and Croatia record the largest decrease in industrial production among EU member states.

September 3, 2013

Cyprus: Waiting for the Next Bailout Tranche

Crisis-struck member of the Eurozone Cyprus will have to wait for the next payment out of the bailout-package. Before the next tranche will be transferred the small country has to implement key measures.

September 2, 2013

Poland: Economic Growth to Speed Up

According to GUS, the Polish Central Statistical Office, GDP grew by 0.8 percent in the second quarter of 2013 on a year-on-year comparison basis, which is an increase of 0.3 percent from 0.5 percent in the first quarter of the year.

September 2, 2013

Eurozone: Unemployment at 12.1 Percent

A total number of 26.7 million persons in the European Union are unemployed, according to estimates by Eurostat, the statistical office of the European Union,

August 30, 2013

Austria: OeNB Increases Growth Forecast for 2013

The Austrian National Bank (OeNB) has slightly increased its growth forecast for Austria in 2013 from 0.2 percent to 0.5 percent. Govenor Nowotny said there was a better development than expected in the second quarter.

August 30, 2013

Strache: „No New Aids for Greece“

Heinz-Christian Strache, leader of the Austrian Freedom Party (FPÖ), demands that further bail-out funds for Greece should be stopped immediately.

August 27, 2013

Austria: First Chancellor’s Duel

Chancellor Werner Faymann (SPÖ) and Deputy Chancellor Michael Spindelegger (ÖVP) had their first official chancellor’s duel on TV on Monday. However, people waiting for a major dispute had been disppointed.

August 27, 2013

Austria: Fekter Does Not Publish Controversial Industrial Location Study

According to a recent study on the quality of Austria´s industrial location, the number of leaving multinational companies is growing.

August 25, 2013

Eurozone: Strongest Growth Rates in Two Years

The Eurozone continues to recover. Businesses in industrial production and in the service sector increased to a new high in more than two years. However, growth in both sectors is still not enough for the creation of new jobs.

August 22, 2013

Slovenia: Business Organizations Post Wishlist to Government

Slovenian business organizations have forewarded a wishlist to the government in which they request more "breathing room" by the lowering of taxes and measures to enhance development and competitiveness.

August 20, 2013

Eurozone: Minor Increase in Construction Production

In the construction sector, seasonally adjusted production rose by 0.7% in the euro area (EA17) and by 0.8% in the EU27 in June 2013, compared with the previous month, according to first estimates released by Eurostat.

August 20, 2013

Czech Republic: New Trial for Dissolution of Parliament

The Czech parliament could enable new elections.

August 19, 2013

Slovenia to Expand Bank Stress Test

Instead of formarly three, ten banks are now supposed to be subjected to a stress test. Results are expected until the end of the year.

August 19, 2013

Turkey Wants to Stop Capital Outflow

The Turkish government plans to attract more investors. By lower taxes, foreign capital of Turkish nationals should come back to Turkey.

August 17, 2013

Austria: Minor Decrease of Inflation Rate

Slight easening of inflation in Austria: Thanks to cheaper fuels and a lower upward trend in prices for food, the inflation rate in Austria decreased from 2.2 percent to 2.0 percent in July.

August 16, 2013

Czech Republic: New Elections Expected At the End of October

Prime Minister Petr Necas’ resignation leads to new elections soon. The Social Democrats, who want to introduce the Euro, are potential winners.

August 16, 2013

Czech Republic to Crawl out of Recession

In the second quarter the Czech economy grew by 0.7 percent compared to the first quarter.

August 15, 2013

End of Recession Supports Stock Exchanges in Europe

The Eurozone seems to have finally left recession behind. This is one of the reasons why markets closed trades with a plus on Wednesday.

August 15, 2013

Cyprus: Bailout Should Have Come Sooner

Cyprus should have applied for an EU rescue package in 2011 to avoid the restrictive terms forced on investors to ensure support, its central bank governor said yesterday.

August 14, 2013

Eurozone: GDP Grew Slightly

Euro area and EU27 GDP both up by 0.3% -0.7% and -0.2% respectively compared with the second quarter of 2012.

August 14, 2013

Eurozone: Minor Growth in Industrial Production

Industrial production up by 0.7% in euro area. Up by 0.9% in EU27.

August 14, 2013

ECB: New Issuance of Debt Securities Totaled EUR 672 Billion In June 2013.

The annual rate of change of the outstanding amount of debt securities issued by euro area residents was -0.1% in June 2013, compared with 0.1% in May.

August 14, 2013

Slovenian PM Convinced Agreement on 2014 Budget Will Be Reached

Slovenian Prime Minister Alenka Bratusek is convinced an agreement will be reached regarding changes to the 2014 budget

August 13, 2013

Industrial Production Rose in Romania and Greece

In June 2013 compared with May 2013, seasonally adjusted industrial production grew by 0.7% in the euro area (EA17) and by 0.9% in the EU27, according to estimates released by Eurostat, the statistical office of the European Union.

August 13, 2013

Commerzbank: Austria to Miss Budget Goals

Without a new austerity package, Austria will run up more debts than calculated in the bugdet plan, German Commerzbank says. The country’s AAA ratings are likely to decrease.

August 12, 2013

Fitch: European Investors See Withdrawal of Bank Stimulus

More European investors now see the withdrawal of central bank stimulus as a bigger risk to European credit markets than eurozone sovereign debt problems.

August 9, 2013

Slovenia: Stakes of at Least 80 Enterprises

The Slovenian state owns shares in at least 80 companies directly or indirectly.

August 8, 2013

Slovenia: Economic Sentiment Stabilizes

This year, Slovenia will not be able to leave the recession behind. However, the economic sentiment begins to improve in some sectors.

August 5, 2013

Croatia: Upwsing Depends on Return of Investors

Vedrana Jelusic, head of EBRD Croatia, thinks that Croatia benefits from the joining the EU. Introducing the euro is no issue yet, she told “Wirtschaftsblatt”.

August 3, 2013

Cautious Optimism in Slovakia

The economic outlook for Slovakia brightens slightly. The export-oriented country benefits from the stabilization in the Eurozone.

August 2, 2013

Austrian Unemployment Rate Still Lowest in EU

EU27 unemployment rate at 10.9%.

August 1, 2013

Eurozone: Inflation Remains Stable

Flash estimates show the Euro area annual inflation is stable at 1.6 percent.

August 1, 2013

Czech Republic: Unwilling to Join Eurozone?

In 2012, the country missed two out of four criteria for the introduction of the single currency. According to the statistical office it was the worst result in five years. It is not yet clear when the Czech Republic is ready to join the Eurozone.

July 31, 2013

Slovenia Likely to Overcome Problems in Banking Sector

Slovenia’s problems in banking sector are controllable, according to experts.

July 31, 2013

Eurozone: Business Investments Decreased to 18.8 Percent

Business investment rate down to 18.8% in the euro area and to 18.3% in the EU27 Business profit share at 37.7% and at 37.2% respectively

July 31, 2013

Bulgaria: Danger of Policy Drifting

Bulgaria's fundamentals are strong but politics suggest policy drift.

July 31, 2013

Eurozone: Household Real Income Increased 0.5 percent

Household saving rate up to 13.1% in the euro area and to 11.0% in the EU27 Household real income per capita increased by 0.5% in the euro area

July 31, 2013