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Eurozone

Fitch Criticizes European Stress Tests

The rating agency argues that there is still a lack in technical details. Regarding the robustness of the stress tests, Fitch demonstrates skepticism.

February 6, 2014

Croatia: Monetary Interventions to Stabilize Kuna

On Friday the Croatian national bank sold € 240.2m to commercial banks.

January 31, 2014

Hungary: Stable Economy, Weak Currency

According to Prime Minister Orban the volatility of the Hungarian Forint is based on global factors.

January 31, 2014

Austrian Industrial Sector only Sees Weak Recovery

The Federation of Austrian Industries (IV) warns about a fragile economic recovery.

January 30, 2014

WKO Rejects Further Financial Burdens for Banks

According to the Austrian Chamber of Commerce (WKO), the financial burdens of banking institutes in Austria are significantly higher than those of their competitors in other EU member states.

January 29, 2014

Euro-Introduction: Cutting Debts Precondition for Poland

Finance Minister Mateusz Szczurek stressed that cutting debts was a key condition for Poland before it could be admitted to the single currency union.

January 29, 2014

Spindelegger: “No Exploitation of Resolution Funds”

Among the finance ministers in Europe, there are still different perceptions regarding the bank resolution fund.

January 28, 2014

Restrained Optimism in Polish Financial Market

According to Finance Minister Szczurek, the Polish Financial Market will have to face another challenging year.

January 27, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

CEE: Economic Sentiment at Lowest Level

ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE at lowest level.

January 24, 2014

Eurozone: Highest Economic Growth in Two Years

The purchase manager index for the private economy increased to 53.2 points up by 1.1 points, as published by Markit research institute on Thursday.

January 23, 2014

CESEE: Recovery Remains Modest

The European Bank for Reconstruction and Development (EBRD) has published a report on the regional economic prospects. The economic recovery in CESEE remains fragile.

January 23, 2014

Eurozone: Number of Banks Declining Fastly

The decline in the number of euro area monetary financial institutions (MFI) continued in 2013, according to ECB’s (European Central Bank) reports.

January 22, 2014

Erste Group: Moderate Economic Recovery in Eurozone

Euro area sentiment indicators point to a continuation of the moderate recovery, according to Erste Bank.

January 20, 2014

Kotian: “Growth in CEE is Accelerating“

In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.

January 20, 2014

Czech Republic: Euro Introduction Has no Priority

In an interview with Bloomberg, designated prime minister Bohuslav Sobotka said that there will be no date for entering the Eurozone in the current term.

January 17, 2014

$ 1.0trn Capital Shortfall in European Banking Sector?

According to U.S. economists, the stress tests carried out by the European Central Bank are too soft.

January 16, 2014

Expansion Course of Austrian Banks Slowed Down

After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.

January 16, 2014

Citizens from CEE Major Benefit for EU

A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.

January 15, 2014

CESEE: Number of NPL Declining

According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.

January 14, 2014

Nowotny Sees Growth Potential in Eurozone and CEE

According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.

January 14, 2014

Eurozone: Further Capital Injections at Banks Expected

The Council of the European Central Bank (ECB) is holding a summit today. The low inflation rate in the Eurozone is still a dilemma for the monetary authorities.

January 9, 2014

RBI Expects Growth to Accelerate in 2014

2014 marked by growth recovery, according to RBI Research.

January 9, 2014

European Savers in Danger

Already this year, savers in the Eurozone may fear a compulsory tax on deposits, the Danish Saxo Bank says.

January 4, 2014

Eurozone: Number of Bank Credits Keeps Declining

The financial institutes in the Eurozone have been cutting back on granting credits. The lending for both business corporations and private persons has dropped by 2.3 percent.

January 3, 2014

CEE: Economic Sentiment Cautiously Optimistic

The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.

January 2, 2014

Austria: Unemployment Rate at Record High

Last year the unemployment rate in Austria recorded its highest level in 60 years.

January 2, 2014

Serbia: Moderate Economic Growth in 2013

According to the release of the Serbian Statistical Office, GDP is estimated to have grown 2.4% in 2013.

January 2, 2014

„Such Growth Rates Will not Return“

In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.

December 30, 2013

CESEE: Dependence on Foreign Demand Remains Main Obstacle

In 2014, Central, Eastern and Southeastern Europe (CESEE) faces a slight upward trend. The structural difficulties persist, however.

December 21, 2013

Banking Union Completed

The Finance Ministers of the Eurozone have reached a compromise on the last pillar of the banking union. The deposit protection mechanism will come into power in 2015.

December 19, 2013

Wifo: Sluggish Growth Because of Weak Consumption

According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.

December 19, 2013

Slovenia: Three Arrestments at NLB

According to Slovenian authorities, three persons in the bank’s environment were arrested because of alleged malpractice.

December 18, 2013

Austria: Major Banks Exhibit Significant Shortages in Core Capital Quota

Both Erste Group’s and RBI’s core capital quota is below the European average.

December 17, 2013

Poland: Budget Bill Approved by Lower House

On Friday, the Polish lower house Sejm approved next year’s budget bill which schedules the budget deficit of PLN 47.6bn not to be exceeded.

December 16, 2013

No Major Progresses in Banking Union

Tuesday night the Finance Ministers of the European Union have gradually approached on the outstanding issues in the handling with banks threatened by bankruptcy.

December 11, 2013

OeNB Calls on Austrian Banks to Strengthen Their Capital Base Further

Presentation of the Financial Stability Report 26 of the Oesterreichische Nationalbank (OeNB).

December 11, 2013

Slovenia Still Wants to Solve Problems on Its Own

According to head of Eurogroup Jeroen Dijsselbloem, the highly indebted country intends to get a grip on the problems of its banking sector.

December 10, 2013

EU Demands € 55bn for Banking Union

The Finance Ministers of the European Union are still negotiating about a mechanism aimed at preventing states from having to take over financial difficulties from banks, the banking union.

December 9, 2013

Austria: Tax Increases Contemplated by Government

During the coalition negotiations increases of taxes on tobacco and alcohol is currently considered by the Social Democrats (SPÖ) and the People’s Party (ÖVP).

December 9, 2013

Wifo: Austrian Economic Growth Still Sluggish

Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.

December 9, 2013

Austria: Slight Increase in Exports

In spite of a continuing difficult international environment domestic exports increased by 0.7 percent. According to Economy Minister Mitterlehner the Austrian exports are on a record high.

December 6, 2013

Slovenia: Bank Stress Test Results Expected Earlier

According to a source within the European Union, the test results of the asset review of Slovenian banks will be published on December 12.

December 6, 2013

Austria to Raise Capital of up to € 30bn

In 2014, the Austria state will raise capital in the amount of € 28bn to 30bn from international capital markets. This year around € 29bn were raised.

December 6, 2013

Moody's: ECB Rate Cut Does Little for Economic Growth

ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.

December 5, 2013

ECB: Debates about Further Measures in Monetary Policy

Today the 23 member of the European Central Bank’s Council have initiated debates about the the stance of monetary policy. The base rate, lowered to 0.25 percent last month, is expected to remain unchanged.

December 5, 2013

PwC: Turbulent Years for Banks

According to a study by PricewaterhouseCoopers (PwC) the core capital of European banks need to be increased significantly.

November 28, 2013

Germany Claims Key Positions at EU Banking Regulator

The German federal government claims one key position in the European banking regulator.

November 28, 2013

ECB Considers Restricting Credits

The ECB takes the option of restricting banking to industrial enterprises only into consideration.

November 27, 2013

EU Financial Transaction Tax to Become a Flop?

Experts do not expect the financial transaction tax to become effective next year.

November 27, 2013
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