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Fiscal Policy
“EU administration must be screened for savings potential”
Austrian State Secretary Lopatka repeats Austria’s central demands at the General Affairs Council in Brussels.
September 25, 2012
Public Debt: New EU Members Are More Flexible
Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012
Waiglein Becomes Director of ESM
Austria´s Minister of Finance Maria Fekter mandates Harald Waiglein as member of the board of directors.
September 22, 2012
Serbia Attempts to Stop Rise in Public Debt
The Serbian government aims to achieve a balanced buget in 2014. Austerity measures should be sharpened.
September 22, 2012
Serbia to Privatize Publicly Held Companies
In order to reduce the budget deficit, the Serbian Minister of Finance Mladjan Dinkic plans to sell a part of the state-owned companies.
September 22, 2012
Austria Claims Financial Transaction Tax
State Secretary Lopatka presents Austria’s positions to EU Commissioner Lewandowski.
September 21, 2012
Austrian Industry Claims Tax Cut
The Federation of Austrian Industries (IV) wants a tax relief. In the coming years, the tax quota should be reduced to 38%.
September 20, 2012
Westerwelle and Sikorski Want a Stronger EU
The German and the Polish Ministers of Foreign Affairs wrote a common article in The International Herald Tribune.
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
IMF-Loan: Orban Demonstrates Optimism
According to Hungary´s Prime Minister Viktor Orban, the negotiations with IMF are proceeding on schedule.
September 18, 2012
Poland Rejects Joining Banking Union
According to Poland´s Minister of Finance, a common supervision for banks is “not interesting”.
September 17, 2012
Faymann Demands Property and Inheritance Tax
Austria´s Chancellor Werner Faymann calls for a re-introduction of a property and inheritance tax.
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
Hungary Becomes Tax Haven for Czech and Slovak Enterprises
In the last three years, the number of Czech enterprises with head office in Hungary was up by 41%.
September 15, 2012
Czech Public Debt Growing Rapidly
Until the end of the year, public debt is expected to increase to € 63.77bn. At the end of 2011, the public debt level came at € 58.5bn.
September 14, 2012
Czech Republic Threatened of Downgrade
Because of its instable political situation, the Czech Republic may be downgraded. Debt service costs may increase substantially.
September 14, 2012
Hungarian Central Bank Against Bank Taxes
According to the governor of Hungary´s Central Bank, the bank taxes are causing the lending freeze.
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
Infringement Proceedings Against Hungary?
The Commission of the European Union is said to start infringement proceedings against Hungary because of the introduction of financial transaction taxes.
September 13, 2012
Hungary: Difficult Negotiations with IMF
The relation between Hungary´s Prime Minister and IMF is chronically tensioned. Another delay of the conclusions of the negotiations is likely.
September 12, 2012
Fekter: “Relieved to have a clear Judgement”
Austrian Finance Minister Maria Fekter delighted at decision on ESM by German constitutional judges.
September 12, 2012
Orban to Visit Germany
In October, Hungary´s Prime Minister will be on an official state visit in Berlin in October.
September 12, 2012
Serbia Lifts VAT Rate
In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.
September 11, 2012
Hungary: Bank Tax Intake Lower than Expected
The bank tax proceeds only reach 40% of the planned volume.
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
Hungary: Orban Rejects IMF´s Conditions
This week, a list containing IMF´s conditions for a € 15bn loan became public. However, it is not known whether the list is a counterfeit. Not at this price and not in this way.” Hungary´s Prime Minister Viktor Orban said.
September 8, 2012
Temporary Surplus in Serbia´s Budget
Due to the VAT intake, Serbia faced a budget surplus in July. In June, Serbia recorded a massive deficit.
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
Poland Adapts Austerity Targets
Due to the economic crisis in Europe, the Polish government gives up its aim to reach a budget deficit below 2.2% of GDP.
September 5, 2012
Merkel Meets Austrian Government
This Friday, Germany´s Chancellor Angela Merkel will have talks with the top of the Austrian government in Vienna.
September 4, 2012
Czech VAT Increase to be Resolved
The Czech government wants to increase the tax intake by € 1.0bn. Economists warn of a deepening of the recession.
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
Slovenia: “Danger for Austrian Banks is Limited”
Although Austria would be most affected by a Slovenian national bankruptcy, the likeliness of this scenario is rather low, analysts say.
September 3, 2012
IMF: Austria Must Prevent Spillover Effects
The Executive Board of the International Monetary Fund (IMF) has concluded the Article IV consultation with Austria. The Austrian banking sector is “overly ambitious” in the CESEE region, IMF says.
September 3, 2012
EU Budget Proposal “Excessive” for Austria
EU multiannual budget 2014 – 2020 negotiated in Cyprus: Austria underlines its position as net contributor.
August 31, 2012
Barroso: “We Must Complete Europe” (Part 2)
At the Alpbach Economic Symposium 2012, the President of the EU-Commission José Manuel Barroso explained the “logics of integration”. In order to meet new challenges, the EU has to promote integration, Barroso says.
August 30, 2012
Austrian Budget Targets “Will be Met”
According to Austria´s Finance Minister Maria Fekter, Austria´s budget deficit will be below 3.0% of GDP. “Our domestic fiscal position is very strong now”. she underlines.
August 30, 2012
Fekter in Favour of Mechanism for Excluding Countries from Eurozone
Austria´s Finance Minister Maria Fekter: “It will take time to implement”. Fekter wants to address countries which constantly create financial burdens for other member states.
August 30, 2012
Faymann Against Breaking Up the Eurozone (Part 2)
At the Alpbach Economic Symposium 2012, Austria´s Federal Chancellor Werner Faymann underlines the “advantages of the EU”. Without the euro, Austria would face a dramatic recession, he warns.
August 30, 2012
Faymann Against Breaking Up the Eurozone (Part 1)
At the AlpbachE conomic Symposium 2012, Austria´s Federal Chancellor Werner Faymann underlines the “advantages of the EU”. Without the euro, Austria would face a dramatic recession, he warns.
August 30, 2012
Barroso: “We Must Complete Europe” (Part 1)
At the Alpbach Economic Symposium 2012, the President of the EU-Commission José Manuel Barroso explained the “logic of integration”. In order to meet new challenges, the EU has to promote integration, Barroso says.
August 30, 2012
FPÖ´s Strache Calls for Leaving Eurozone
Heinz-Christian Strache, chairman of the Austrian oppositional freedom party (FPÖ), suggests an Austrian exit.
August 29, 2012
Fekter Wants Tax Reform
In an interview with the Austrian newspaper „Presse“, Finance Minister Maria Fekter said to plan a tax reform. The entry tax rate should be lowered.
August 29, 2012
Serbians Push Government for Reforms
The support for an EU membership has fallen below 50%. However, more Serbians call for economic and social reforms.
August 27, 2012
No Leeway for Wage Tax Reduction
Austrian social democrats call for a relief of medium-income earners. Finance Minister Maria Fekter opposes to this idea.
August 27, 2012
S&P Confirms Czech Rating
The U.S. rating agency retained the rating for the Rczech Republic.
August 24, 2012
Fekter Does Not Exclude Further Bank Aids Anymore
Austria´s Finance Minister Maria Fekter admits that the three nationalized banks Hypo Group and Kommunalkredit/KA Finanz may need further capital injections. In the past, Fekter denied the need of further bank aids.
August 23, 2012
Fekter: Enhanced “debt burden check” to Prevent Cost Explosion
Fekter in favour of a law against financially onerous “election-year pork”.
August 23, 2012
New Property Tax in Croatia
Slavko Linic, Finance Minister of Croatia, confirmed that Croatia will introduce a property tax in 2013. There would be no need for an IMF loan, Linic argues.
August 21, 2012
Czech VAT to Increase
In order to increase public revenues, the Czech government may increase value added taxes.
August 21, 2012
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