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Eurozone

Austrian Managers Lose Confidence in EU

Only a third of the Austrian managers believes that the problem in the Eurozone can be solved.

October 29, 2012

Polish Government: Austerity in Order to Enter Eurozone

The Polish Minister of Foreign Affairs Radoslaw Sikorski says that Poland will fulfill the Maastricht Criteria in 2015.

October 19, 2012

Austria: Economic Sentiment Low

Despite solution to eurozone crisis taking shape, sentiment of consumers and producers still trending down. More optimistic outlook for 2013 after stagnation in second half of 2012.

October 17, 2012

Debt Crisis Weighing Down on Euro Zone more than on US

According to Austrian Erste Group Research, the economic development in the Eurozone remains subdued.

October 17, 2012

Hungary Reaffirms Not to Enter Eurozone

After the meeting with Germany´s Chancellor Angela Merkel, Hungary´s Prime Minister Viktor Orban explained that the euro must offer a perspective again.

October 16, 2012

Austrian Economy Stagnates

According to Austrian National Bank (OeNB), the economic growth rate will be slightly negative. A recession is not excluded.

October 12, 2012

Orban Rejects Joining Eurozone

The Hungarian Prime Minister Viktor Orban thinks that the introduction of the euro in Hungary would be “irresponsible”.

October 10, 2012

IMF Issues Optimistic Forecast for Slovakia

According to IMF, Slovakia´s economy will grow by 3.3% this year. However, the forecast had to be reduced compared to the prior forecast.

October 10, 2012

Fekter Welcomes Entry into Force of ESM

Austria´s Minister of Finance "No cause for celebration, however, as we are still in the middle of stabilising the Eurozone."

October 10, 2012

Fekter: “Greece Shows Progress”

Austria´s Finance Minister praises Greece's efforts to improve its situation.

October 2, 2012

CEE Remains Europe’s Growth engine Despite Slow-Down

CEE with 2012 GDP growth of 2.4 per cent – GDP in Eurozone to shrink to minus 0.5 per cent in 2012 . In terms of reforms, CEE tops Eurozone peripherals

September 28, 2012

Klaus: Exit Will Not Destroy Eurozone

The Czech President Vaclav Klaus says that a reduction of the member states will not destroy the Eurozone.

September 27, 2012

Stronach Founds New Party: „Historical Event“

The former CEO of the Canadian automotive group Magna has presented his new party “Team Stronach” today.

September 27, 2012

Latvian Government Intends to Join the Eurozone in 2014

Despite the skeptical citizens of Latvia and the crisis in the Eurozone, the Latvian government wants to introduce the euro in 2014.

September 26, 2012

“European Union Not Endangered”

Austrian Vice-Chancellor Michael Spindelegger defends the euro at the renowned US university Harvard and emphasises Austria’s performance on the international stage

September 26, 2012

Poland: Joining Eurozone After Crisis

For the governor of the National Bank of Poland Marek Belka, entering the Eurozone is conceivable as soon as the Eurozone has recovered.

September 25, 2012

Austrian Elections 2013: Stronach Confirms Candidacy

This week, the former CEO of Magna Frank Stronach will present the program of his party. The name of the party is not fixed yet.

September 25, 2012

Croatian EU-Accession: Slovenia as Obstacle

Slovenia may put a veto on Croatia´s EU accession. Croatia should withdraw lawsuits against the biggest Slovenian bank NLB, Slovenia says.

September 22, 2012

Latvia: Introduction of the Euro Wobbles

The majority of the Latvians are against joining the Eurozone. The Latvian government is under pressure.

September 22, 2012

Bulgaria Aims to Join the Eurozone

Ivan Iskrov, governor of Bulgaria´s National Bank explains that entering the Eurozone would be a long-term priority for the country.

September 22, 2012

Moody´s Retains Austrian Triple A

The U.S. rating agency also confirms the negative outlook. Austria´s strengths are the growth rates and the low unemployment rate.

September 22, 2012

Croatia Wants to Join the Eurozone

In July 2013, Croatia becomes the 28th member of the EU. After the accession, the Croatia should join the Eurozone too, the government says.

September 19, 2012

National Bank of Slovakia Adapts GDP Growth Forecast

According to NBS, the Slovak economic growth is expected to reach 2.7%. This is higher by 0.2 percentage points than NBS forecasted in June.

September 19, 2012

Fekter: “Spanish Banks Need € 60bn”

According to Austria´s Minister of Finance Maria Fekter, the European Union focuses on Spain. A Greek exit would be no issue anymore.

September 18, 2012

Banking Supervision: Nowotny Warns of Over-Ambition

According to the governor of OeNB (Austrian Central Bank), it would be dangerous to establish new institutions without a democratic legitimization.

September 18, 2012

Klaus: Czechs Against Banking Union

The Czech President notes that the Czech Republic cannot achieve anything without a recovery of the European economy. However, it would be advantageous to stay outside the Eurozone.

September 18, 2012

Latvia: Fit for the Eurozone

According to Latvia´s Central Bank, the country will fulfill the Maastricht criteria by the end of the year.

September 18, 2012

Bulgarian President Wants to Attract Austrian Investors

On the occasion with a meeting between the Bulgarian President Rosen Plevneliev, the Austrian President Heinz Fischer and Lower Austria´s governor Erwin Pröll, Plevneliev underlined the importance of Austrian investors for Bulgaria.

September 17, 2012

Implementation of Banking Union to be Postponed

Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.

September 17, 2012

Austrian Economy at a Standstill – "But probably not for long"

Bank Austria's Business Indicator sinks to -0.7 points in August, the third decline in a row. 2012 as a whole expected to be up to 1 percent, in spite of stalled economic activity in the second half of the year.

September 17, 2012

Slovenia´s ESM Contribution to Reach € 137m

Until the end of October, Slovenia has to pay € 137m to the European Stability Mechanism.

September 15, 2012

Klaus Does Not Want European Federation

The Czech President Vaclav Klaus rejects the idea of the head of the EU-Commission José Manuel Barroso.

September 14, 2012

Austrian Inflation Rate Below EU Average

In August, the official consumer price inflation rate increased by 2.2%. In the Euro area, annual inflation was up to 2.6%.

September 14, 2012

ESM: Austrian Budget Has Already Appropriated the funds

Austria´s share in the ESM comes to € 19.5bn. The capital share is about € 2.2bn. The Austrian Finance Ministry underlines the importance of the ESM.

September 14, 2012

Banking Union: Austrian FMA Wants to Integrate Eastern European Countries

According to the board of Austria´s Financial Market Authority, not only the banks of the Eurozone should be supervised.

September 13, 2012

Nowotny: Not Overcharging ECB

Ewald Nowotny, governor of Austrian Central Bank (OeNB) argues that ECB should not control all banks.

September 13, 2012

„Banking Union Must Not Become Burden for Real Economy“

The Federation of Austrian Industries (IV) underlines that the banking union must be competition-neutral. Above all, the real economy must not face liquidity constraints, IV says.

September 13, 2012

Austrian Chamber of Economics Supports ESM Decision in Germany

Austria´s Minister of Economics Reinhold Mitterlehner: “The decision of the German Constitution Court is an important signal for investments and will promote growth.”

September 12, 2012

„I´m Concerned About the Atmosphere in Southeastern Europe“

In an interview with the Austrian newspaper “Presse”, the Croatian Minister of Foreign Affairs Vesna Pusic explains that Croatia still aims to become a member of the Eurozone. The Maastricht Criteria would not be fulfilled yet, she says.

September 11, 2012

Kapsch Against Excluding Greece

The President of the Federation of Austrian Industries (IV) thinks that the Austrian pension system shows a substantial savings potential.

September 10, 2012

Slovenia: Juncker Calls for Reforms

The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”

September 10, 2012

Euro-Crisis Enters Austria

In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.

September 10, 2012

Nowotny Hopes for ESM

The governor of OeNB (Austrian Central Bank) thinks that the bond purchases are not sufficient. Politics must help ECB, he argues.

September 10, 2012

Austerity Package: Czech Government Asks for Vote of Confidence

After the austerity package was disapproved by the Czech Parliament, the government resubmits the bill to the Chamber of Deputies.

September 10, 2012

Merkel and Faymann Reaffirm their Commitment to the Euro

The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.

September 8, 2012

Czech Republic: No VAT Increase

The governing coalition failed in seeking approval by the parliament. In order to lower the budget deficit, the government intended to lift the VAT rates.

September 7, 2012

Austrian Growth Above EU Average

Unlike the Eurozone, Austria faces no recession. In the Eurozone, GDP was down by 0.2%.

September 6, 2012

Latvia: Majority Rejects Euro

According to a opinion poll by “Latvijas fakit”, 59% of the Latvians does not want to join the Eurozone.

September 5, 2012

Industrial Producer Prices Most Stable In Austria

July 2012 compared with June 2012: Industrial producer prices up by 0.4% in both euro area and EU27. In Austria, the lowest annual increase was observed.

September 4, 2012

Slovakia: Budget Deficit Reached € 2.67bn

In August, Slovakia´s budget shortfall increased to € 2.675bn from € 2.239bn in July.

September 4, 2012