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Greece

„The end of the Euro would mean Europe´s Explosion“

Ewald Nowotny, governor of the Austrian Central Bank (OeNB) reaffirms that Europe needs the Euro.

June 25, 2012

Treichl: „Europe Does Not Need the Euro“

Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.

June 25, 2012

Fekter Declines Mercy for Greece

Austria´s Finance Minister Maria Fekter is poised for amending several points oft he Greek austerity program. This is no accomodation, Fekter emphasizes. In the future, the EU should be completely centralized, Fekter says.

June 21, 2012

CESEE Banks: Small Exposure in Southern Europe

The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.

June 20, 2012

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

Gloomy Growth Prospects for Austria

Bank Austria cuts its growth prospects for Austria. Instead of a GDP growth of 2.0% in 2013, the analysts now expect economic growth to reach 1.5%.

June 16, 2012

Fitch: „AAA Endangered in Case of Greek Exit“

The U.S. rating agency warns the remaining AAA-Eurozone members of the consequences of a Greek exit.

June 13, 2012

Can Greece be Saved?

In a era where it feels as though the stability of the Euro and its included nations teeters on the brink of chaos, everyone is looking to Greece as the tipping point.

June 13, 2012 · Updated: August 19, 2013; 10:13 · Sponsored Content

Austerity: „There is No Alternative“

The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.

June 12, 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

Spain: „ESM would be a Better Safeguard“

Austria´s Minister of Finance Maria Fekter wants Spain to call for aid via the ESM.

June 11, 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

Moody´s Warns Austria of Another Downgrade

The U.S. rating agency may downgrade European AAA-countries like Austria, Germany or France soon.

June 9, 2012

Kommunalkredit Sale: Austria Hires Morgan Stanley

The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.

June 6, 2012

Keuschnigg: „Raising ESM for Italy and Spain“

Christian Keuschnigg, director of the Austrian Institute of Advanced Studies (IHS) argues for raising ESM funds to € 1,000bn.

June 4, 2012

Treichl: „Spain Needs Help“

The CEO of theAustrian Erste Group Andreas Treichl is in doubt whether Spain may conquer the crisis without help. Regarding Greece, Europe has to pay anyway, Treichl thinks.

June 1, 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

Nowotny: „Keeping Greece in Eurozone Has Highest Priority“

The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny thinks that ECB does not plan a new bond purchase program.

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

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

Nowotny: „Austria is Safe“

The governor of Austria´s Central Bank (OeNB) Ewald Nowotny asserts that the economic stability in Austria is substantially better than in other regions of the Eurozone.

May 23, 2012

Fekter Warns of Greek Exit

Austrias Finance Minister Maria Fekter sees enormous difficulties in the case of an exit out of the Eurozone. The Financial Market Authority (FMA) supports Fekter.

May 23, 2012

The Euro – A Big Error (Part 2)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 23, 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

Rothensteiner: Return to Drachma would be „Utter Chaos“

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

May 21, 2012

The Euro – A Big Error (Part 1)

The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.

May 20, 2012

Greek Exit: € 5.0bn Costs for Austria „In the Best Case“

Bank Austria´s chief economist Stefan Bruckbauer warns of exorbitant costs in case of a Greek exit out of the Eurozone. A common solution would be the better alternative.

May 19, 2012

Austrian Interest Rate Reaches a Record Low

The interest rates for German and Austrian sovereign bonds are as deep as never before. Thus, in Europe, the gap widens further.

May 18, 2012

„ECB Must Help Spain“

If real estate price in Spain fall further, Spanish banks were not able to bear that risk. A Greek exit could cost Austria up to € 10bn.

May 18, 2012

Austrian Economy Grows Slowly

After a period of stagnation, the Austrian economy showed a small growth rate of 0.2% in the first quarter of 2012.

May 15, 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

Greek Exit: Costs of € 7.7bn for Austria

Austria could have to bear costs of up to € 7.7bn if Greece leaves the Eurozone. Austrian guarantees amount to € 3.1bn.

May 14, 2012

Keuschnigg: „Problem Countries Must Cut Wages“

The designated director of the Austrian IHS (Institute of Advanced Studies) thinks that a drastic wage cut in Greece, Portugal and Spain is inevitable.

May 12, 2012

Stable Development of Austrian Economy

The Austrian Institute of Economic Research (WIFO) forecasts a decent, but stable economic growth in 2012.

May 10, 2012

Greece: „The Markets were too Euphoric“

In an interview with the Austrian newspaper “Standard”, the Austrian analyst Friedrich Mostböck thinks that the European debt crisis will remain a major challenge.

May 7, 2012

Kommunalkredit: Search for Buyer Goes on

In 2008, the former interest of VBAG was nationalized. The market environment would be too insecure, CEO Steinbichler says.

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

Kommunalkredit: Losses Reach € 150m

The nationalized Austrian lender had to write down Greek sovereign bonds. Write-offs totaled € 176m.

April 30, 2012

Business Insolvencies Expected to Increase

After two years of decreasing business insolvencies, the Austrian economy faces a rising number of business insolvencies again.

April 26, 2012

Agrana Aims for Expansion into Balkan Region

The Austrian sugar and starch company Agrana is looking for acquisition targets in the Western Balkans.

April 23, 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

Casinos Austria International Records Massive Losses

Casinos Austria Group posts minimal profits. Losses of the subsidiary Casinos Austria International could be offset by the Austrian division.

April 14, 2012

Bank Austria Considers Leaving East European Markets

UniCredit´s subsidiary may leave Baltic countries as well as Kazakhstan. CEO Cernko is optimistic to achieve more than € 1.0bn in profits this year.

March 30, 2012

Economic Upswing for Austria?

The economic research institutes IHS and WIFO anticipate that the Austrian economy accelerates by summer 2012. Both warn of “too much euphoria”, however.

March 29, 2012

Bank Austria: Higher Profits than Expected

Bank Austria posts net profit of € 209m despite burdens of € 1.2bn resulting from Greece, goodwill impairment and bank levies.

March 28, 2012

Keuschnigg: „Greece Must Leave Eurozone“

The Austrian Economist and designated director of HIS, Christian Keuschnigg advised Greece to leave the euro zone.

March 26, 2012

Nowotny: “Portugal in Much Better Shape Than Greece”

The Governor of the Austrian Central Bank (OeNB) and ECB Council Member Ewald Nowotny is optimistic on Portugal´s medium-term prospects. The country faces much less liquidity constraints than Greece.

March 21, 2012

Modest Economic Spring With Upward Potential

Bank Austria Business Indicator for February confirms that the economic turnaround has already begun. The outlook is positive.

March 19, 2012

Bawag to Refund Bank Aid in 2014 by Earliest

The U.S. owned bank was the only one in Austria which could increase its profits last year. The restructuring is successfully completed.

March 17, 2012