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Fiscal Policy

Volksbanken: State Aid to be Repaid

The Austrian Volksbanken (ÖVAG) will reportedly pay back more than the agreed € 300m of state aid in 2010.

December 8, 2010

Bawag is Profitable Again

The Austrian bank Bawag PSK, now owned by the U.S. fund Cerberus, is to have profits again this year: € 100m are expected.

December 2, 2010

The Budget is Finally Set

After weeks of discussions about the 2011Austrian Federal Budget, the final details were announced today. There are very few amendments to the original project.

November 30, 2010

OeNB Governor Nowotny "During the Crisis, the Euro Acted as a Protection Shield Beyond the Euro Area"

The Governor of the Austrian National Bank, Ewald Nowotny warns to fiscal discipline and talks about economic challenges and opportunities in Europe.

November 15, 2010

Bank Tax: Only 185 Million Remain for the Federation

In negotiations with the provinces, the federal government surprisingly yields to pressures: proceeds from the bank tax will be divided.

October 29, 2010

Risk of Default of Federal Investments for 330 Million Euro

The State bought high-risk securities in 2007 and 2008. These show a high risk of default since the financial crisis. The State wants to get rid of these securities by next year.

October 29, 2010

Bank Tax: Demands for Time Limit Becoming Louder

Financial politicians and banking representatives already argue before approval of the draft law, if the bank tax to be introduced in 2011 is going to have a time limit.

October 27, 2010

Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.

October 18, 2010
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