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Fiscal Policy

Fekter Approves Greek Election Results

The Austrian Minister of Finance Maria Fekter is happy with the „Pro-European „ statement oft he Greeks. Minor adjustments to aid packages would be possible.

June 18, 2012

Fekter Defends Euro Aids

Austria´s Finance Minister Maria Fekter underlines the „necessity of solidarity“ and stressed ist commitment to the common currency. The Austria opposition party FPÖ made a serious protest.

June 16, 2012

Tax Treaty with Switzerland Finally Confirmed

The second chamber oft he Swiss Parliament approved the tax deal with Austria, Germany and the U.K.

June 16, 2012

Austria Stresses Balance Between Growth and Austerity

At the negotiations on the EU financial plan 2014 – 2020 in Denmark, Austria proposes to establish a growth fund accessible to SMEs.

June 13, 2012

Monti Angry at Fekter

Italy´s Prime Minister Mario Monti is unhappy with the statement of Austria´s Finance Minister Maria Fekter on Italy. Fekter considered that Italy may need help by the EU.

June 12, 2012

„We Won´t Get Any Money Back“

The former director of the Austrian Institute of Advanced Studies (IHS) does not think that Greece is able to pay back its debt. Nevertheless, Felderer still believes in the euro.

June 9, 2012

„Bank Union is Still Far Away“

Ewald Nowotny, Governor of Austria´s Central Bank, thinks that a bank union in the Eurozone would still take some time. Erste Group´s CEO Andreas Treichl approves the idea.

June 6, 2012

Spindelegger: “Great respect for future-oriented decision taken by Ireland”

The Austrian Vice Chancellor congratulates his Irish colleague Eamon Gilmore on the outcome of the referendum.

June 4, 2012

Trade Unions Wants „Just Taxation“

The Austrian Trade Unions warn of a strict austerity policy and pushes for growth stimulating measures.

June 2, 2012

EU Calls on Austria to Accelerate Reforms

Austria has to put more effort in reforms. In the fields of education, labor market, retirement plan and budget consolidation, Austria shows deficits.

June 1, 2012

Austrian Business Location: Further Slump in Competitiveness

According to the Swiss Management Institute IMD, Austria only ranks 21th among 59 analyzed countries. The Austrian tax policy is the absolute weak point.

May 31, 2012

The Euro - A Big Error (Part 4)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 31, 2012

Switzerland Ratifies Tax Treaty with Austria

The Swiss National Council approved the tax deal with Austria. Illegal funds of Austrian nationals in Switzerland will be taxed.

May 30, 2012

Austrian Budget Target Endangered

In spite of decreasing revenues and rising expenses, Austria´s Minister of Finance Maria Fekter expects to reach the budget target.

May 30, 2012

Austrian Proposal for EU Growth and Innovation Fund

In-depth discussion at the General Affairs Council on the multi-annual financial framework of the EU. Austria pushes for more economizations.

May 30, 2012

Switzerland: Resistance Against Tax Deal with Austria

Swiss parties are against the tax agreement with Austria. The social democrats and the Swiss People´s Party oppose the plan.

May 29, 2012

The Euro - A Big Error (Part 3)

The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.

May 29, 2012

Vienna´s Indebtedness Grows

Austria´s capital ignored the warnings of the Audit court and lets the debt burden grow further.

May 26, 2012

"Europe Needs Economic Growth and Budget Discipline“

Structural reforms are necessary to make Europe sustainably more competitive, Christoph Leitl, President of Austria´s Chamber of Commerce (WKO) says.

May 26, 2012

Fekter Emphasizes: „Eurobonds Do Not Solve Debt Problem“

Maria Fekter, Austria´s Minister of Finance, thinks that the idea of common bonds is no real solution, but only symptom fighting.

May 26, 2012

Fekter: “Strengthen Partnership with Eastern Neighbours”

Austria´s Finance Minister Maria Fekter emphasizes the necessity of a closer political and economic integration needed with partners in the East.

May 26, 2012

Greece and Eurobonds Divide Austria

The Greek exit and the introduction of Eurobonds are discussed heatedly. In Austria, there is no clear tendency.

May 25, 2012

“Three Problems of Europe: Divergence, Indebtedness and Weak Banks”

The new director of the Austrian IHS (Institute of Advanced Studies) Christian Keuschnigg thinks that a Greek exit would have to take place suddenly.

May 21, 2012

Sorger Underlines Austrian Crisis Management

The President of the Federation of Austrian Industries Veit Sorger reaffirms the necessity of austerity and investments of the private sector.

May 19, 2012

Androsch Criticizes Political Inactivity

The former Austrian Finance Minister and industrialist Hannes Androsch thinks that both austerity and growth strategies are needed and criticizes the government sharply.

May 18, 2012

Keuschnigg: „Austria Needs More Federalism“

The new director of IHS (Institute of Advanced Studies) considers that a decentralization of the fiscal policy would bring more competition between the provinces.

May 18, 2012

Keuschnigg Worries About Austria´s Competitiveness

The new director of IHS (Institute of Advanced Studies) Christian Keuschnigg suggests reforming the Austrian labor market. The welfare state would be too sophisticated.

May 15, 2012

A “Speech to Austria”? No.

The disenchantment with politics in Austria is as big as never before. An ambitious, but meaningless speech of Vice-Chancellor Spindelegger will not change the misery.

May 15, 2012

Austrian Stability Pact Signed

The Austrian Federation, the provinces and the municipalities agreed on the stability pact. Until 2016, a zero deficit should be reached.

May 10, 2012

Leitl: „EU Needs Budget Consolidation and Growth Measures“

The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.

May 5, 2012

ESM: The Final Ruin of Europe

Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.

May 2, 2012

Austrian Unemployment Still Lowest in EU

The EU unemployment rate rose to 10.9% in March 2012 from 9.9% the year before. Since 2000, taxes on labor rose dramatically in Austria.

May 2, 2012

Austria As High-Tax Country

According to the World Bank and PwC, enterprises have to bear a relatively high tax burden in Austria.

April 25, 2012

Austria Wants to Raise Efficiency in EU Funds

The Austrian State Secretary Waldner participates in the negotiations of the EU financial framework 2014-2020 and calls for setting a regional and environmental course.

April 25, 2012

Austrian Ministry of Finance Records Higher Tax Intake

In the first three months of 2012, tax proceeds were up by 3.8%. The Ministry of Finance registered revenues of € 16.2bn.

April 23, 2012

Fekter meets British Chancellor of the Exchequer Osborne

The Austrian Minister of Finance Maria Fekter and George Osborne talked about Basel III, the EU budget and taxation.

April 23, 2012

Maastricht Criteria: Austria in the Middle Field

In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.

April 23, 2012

Waldner: “Germany and Austria are Role Models in the Eurozone“

The Austrian State Secretary Wolfgang Waldner had a work meeting today with his colleague in the German Federal Foreign Office, Minister of State Michael Link.

April 23, 2012

Austrian Railways: € 33bn Investment Package Resolved

The Austrian National Council decided the infrastructure package for ÖBB (Austrian Railways). Until 2017, investments of € 33bn will be made.

April 19, 2012

Felderer: „Women Must Have More Children”

The director of the Austrian Institute of Advanced Studies (IHS) sees a demographic problem in Austria as well as in Europe. Migration cannot solve the problem, Felderer says.

April 19, 2012

Public Debt Increased to 71.8% of GDP in 2010

Austrian public finance 2010: Public deficit up to 4.6%, public debt grew by 2.3 percentage points.

September 30, 2011

RH Warns: Alarming Increase in Public Debt

Austrian government debt is growing rapidly. From 2006 to 2010, government expenditures went up by 18.2%.

September 15, 2011

IMF Puts Pressure on Austria

The IMF shows itself content with the Austrian post-crisis policies. But now, Austria has to reduce new indebtedness.

September 7, 2011

Significant Savings Potential by the Administration

Efficiency potential in public expenditure of over € 500 million. Felderer: "Significant savings potential”.

March 11, 2011

Austrian Clearingbank Concludes Activities

The activities of the Oesterreichische Clearingbank, founded in 2008 to handle liquidity shortages at commercial banks end presently.

March 5, 2011

Lopatka Demands Structural Reforms and Budgetary Discipline

The State Secretary for Finance at the German-Austrian Financial and Economic Forum.

February 11, 2011

Treichl: Massive Criticism on Austrian Government

Andreas Treichl, CEO of Erste Group criticizes the Austrian Government for its fiscal and structural policy. 2011 would be the last chance for reforms.

January 16, 2011

WKÖ endorses policy of the European Commission

The Austrian Economic Chamber welcomes the focus of the EU Commission on structural reforms, consolidation of public finances and competitiveness.

January 13, 2011

ÖVAG: Sales Process of East-holding is Under Way

For the coming year, the Austrian Voksbanken are planning to restructure the Group. A buyer is currently being sought for the East-holding.

December 30, 2010

Is Austria a Risk Country?

Due to its engagement in Eastern Europe, Austria is partially considered as a potential risk country. Lack of understanding for this assessment is shown by Austria.

December 10, 2010