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Eurozone
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
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
Slovenia: Economy to Shrink Despite of Austerity Measures
Slovenian economy expected to contract 2.2 percent in 2013. Prior forecast: -1.9 percent.
July 26, 2013
Latvia: Saying Goodbye to the Lat
The introduction of the Euro in the Baltic country has been postponed due to the financial crisis. Latvia originally planned to join the single currency union in 2008 already.
July 26, 2013
Austria: Economists Predict Rosy Days
The Austrian economy will be growing by 1.7 percent on an annual basis and is developing much better than the rest of the Eurozone, the Austrian Institute for Higher Studies (IHS) predicts.
July 24, 2013
Poland: Dispute Between NBP and Finance Ministry
Finance Minister Jacek Rostowski and Governor of Polish National Bank Marek Belka are blaming each other for the poor performance of Poland´s economy.
July 23, 2013
Orban: Not Joining Eurozone in the Next Ten Years
Hungary´s Prime Minister thinks that his country should not become a member of the euro area in the medium term.
July 23, 2013
Russia: Inflation on the Rise
In the first six months of 2013, the inflation rate came at 3.5%. Compared to the reference period of 2012, the inflation rate was up by 0.4 percentage points.
July 23, 2013
Poland to Enter the Eurozone in the Medium Term
The biggest new EU member country will become a member of the Eurozone, political observers say unanimously. The only question is when.
July 23, 2013
Russia: Recession Not Excluded Anymore
Above all, Russia suffers from a shrinking industrial sector and a decline in foreign direct investments.
July 22, 2013
CESEE Countries Show More Fiscal Discipline
Euro area government debt up to 92.2% of GDP. EU27 debt up to 85.9%. The debt increase in Hungary, Poland, Bulgaria, Romania and the Baltic countries was very decent or even negative.
July 22, 2013
EU: Highest Inflation in Romania, lowest in Poland
Euro area annual inflation up to 1.6%. In the EU, the inflation was up to 1.7%
July 17, 2013
EU: Trade Surplus with Turkey Grows, Trade Deficit with Russia Shrinks
Euro area international trade in goods surplus 15.2 bn euro.
July 17, 2013
Construction Industry Shrinks Drastically in Czech Republic and Poland
Euro area production in construction down by 0.3% and down by 0.2% in EU27.
July 17, 2013
Austria: Most Risks Do not Come from Eurozone
The greatest risks threatening a continued economic recovery in Austria currently stem from the global economic trend and, to a lesser extent, from the Eurozone, Ban Austria reports.
July 17, 2013
Austrian GDP Growth Above European Average
In 2012, Austria saw a growth of GDP of 0.9 percent which is signifantly above the European average.
July 12, 2013
Austrian Economy Dependent on Neighbor Countries
Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.
July 11, 2013
Slovenia Can Afford Bank Sector Cleanup Itself
Slovenia intends to use its own funds and avoid having to ask the Eurozone or IMF for aid to restore the stability of its banking sector, said the country's finance minister Uros Cufer.
July 10, 2013
IMF Downgrades Growth Prognosis for Eurozone
According to the International Monetary Fund (IMF), the prospects of growth in the Eurozone are still positive. However, they are not as good as in April. Germany and Austria are concerned as well.
July 10, 2013
Latvia: Joining the Eurozone
Lativa is becoming the 18th country in the Eurozone. The EU Economy and Finance Ministers have given their green light for the admission.
July 9, 2013
Fekter: Eurozone More Stable Than A Year Ago
Austrian Finance Minister Maria Fekter has described the condition of the Eurozone as “better” than compared to a year ago.
July 9, 2013
Orban Accuses European Union of “Soviet-style Methods”
Hungarian Prime Minister Viktor Orban criticized the “troops of bureaucrats" who were unable to solve the economic crisis in Europe and who were now trying to denounce Hungary, which was on the road to recovery again.
July 5, 2013
Austria: Moderate Economic Upturn
After one year of a phase of stagnation, the Austrian economy shows recovery, according to the results of economic indicator by the OeNB (Austrian National Bank).
July 5, 2013
CEE Slowly Escapes Economic Crisis
Slovenia, Croatia and the Czech Republic have slipped into recession. Experts are particularly worried about the newest EU member.
July 4, 2013
Slovenia: Trying to Make a Difference
The crisis measures approved by Brussels are partially starting to make an impact. Since July 1, the higher tax rate of 22 percent is binding. However, the country does much more than just raise taxes.
July 3, 2013
Crisis in Slovenia Might Take Longer Than Expected
According to the latest economic report by auditing firm Ernst&Young;, the financial crisis in Slovenia will take longer than expected beforehand. However, the country should still be able to avoid international bailout.
July 1, 2013
Austria: WIFO and IHS to Adjust Growth Perspectives Downwards
Experts at the Austrian Institute for Economic Research (WIFO) and the Institute for Higher Studies (HIS) have significantly cut their prognoses for the growth of domestic economy in 2013. However, both institutes are still optimistic for 2014.
June 28, 2013
Latvia Joining The Eurozone As 18th Member
Today the heads of states and governments of the European Union gave their blessing to Latvia’s entry to the Eurozone in 2014.
June 28, 2013
Mitterlehner: „4,000 New Austrian Exporters Within Two Years“
Internationalization Offensive (IO) “go international” will be prologued until 2015. Economy Minister Mitterlehner and head of the Chamber of Commerce (WKO) Leitl present their main targets for Austrian export.
June 21, 2013
Slovenia’s Economic Outlook to Deteriorate Further
The Institute for Macroeconomic Analysis and Development expects GDP in Slovenia to shrink more than projected earlier.
June 21, 2013
Green Light for Latvia’s Euro Accession
The Eurogroup gave green light for the admission of Lativa to the common European currency.
June 21, 2013
Cyprus Demands Further Capital Aid
In a letter to the European Union, President of Cyprus Nikos Anastasiades demands further capital support for the Bank of Cyprus, the “Wallstreet Journal” reports. According to him, Cyprus’ economy depended on it.
June 19, 2013
Eurozone and EU27 to Increase International Trade
Euro area international trade in goods surplus 14.9 bn euro. 9.2 bn euro surplus for EU27
June 17, 2013
EU27 Foreign Direct Investment Amounts to € 171bn in 2012
Over 60% of investments from the rest of the world into the EU27 came from the USA in 2012.
June 13, 2013
Austria: Leitl Welcomes Latvia to Join Eurozone
Head of the Austrian Chamber of Commerce Leitl considers the Euro adoption as an important political signal for the cooperation and the strengthening of the European currency union.
June 5, 2013
Croatia to Expect Disciplinary Procedure by EU
The Ex-Yugoslavian country has to face harder scrutinizing than its CESEE peers which joined the EU in the last decade.
June 5, 2013
Slovenia: Bailout As An Option
Prime Minister Bratusek announced her consent to introduce fiscal rule in 2015.
June 4, 2013
Latvia: Euro to Be Introduced 2014
Latvia will be able introduce the Euro on January 1 2014. According to diplomats, this is what the EU Commission will recommend on Wednesday in Brussels.
June 4, 2013
Czech Repubic to Restrict Budget Cuts
To boost domestic economy, the Finance Ministry announced to temporarily restrict budget cuts.
May 31, 2013
Czech Republic Not to Introduce Euro Before 2019
According to reports by the Czech media, the new government intends to apply for the Euro only in 2016.
May 31, 2013
Commission to Publish Reform Recommendations
24 countries, among them Austria, will receive recommendations for reforms by the EU Commission.
May 28, 2013
Hungary: EDP to Be Dropped.
Hungary can count on the termination of the Excessive Deficit Procedure (EDP) by the European Union.
May 27, 2013
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