Greece

Bulgarians Pessimistic about Own Future

More than 90 percent of Bulgarian citizens deem the country to be in an economically bad situation.

February 20, 2014

Austria: Debt Rate Rises Unstoppably

In the third quarter last year the Austrian public debt rate increased significantly compared to the previous quarter.

January 22, 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

Croatia: Real Estate Market Crisis Goes On

After the collapse of the Croat real estate market in 2009/10, the price decrease still holds on.

December 30, 2013

Austrian Public Debt Reaches New High

The total size of public debt was never before so high. In the next years, the public debt ratio will come close to 80% of GDP.

December 30, 2013

Hypo Group Alpe Adria: Liebscher Against Haircut

Klaus Liebscher, chairman of Hypo Group’s supervisory board, is strictly against a debt cut at the nationalized bank. He expects a decision about a bad bank only in the first quarter next year.

December 10, 2013

Albania: Governor Calls For Measures for Balanced Financial System

Financial institutes in Albania are struggling with a weak demand in credits as the country has been affected by the economic and financial crisis.

November 20, 2013

Half of Austrians Consider the Country Stuck in Recession

According to an online survey, the Austrians are confident and not concerned by the most recent recession in the Eurozone. With a total of 87 index points consumer’s confidence remained stable in the third quarter of 2013.

November 12, 2013

Albania: Domestic Banks Struggling to Keep Up

According to a report by the European Bank for Reconstruction and Development (EBRD), the Albanian financial sector is dominated by foreign banks. Domestic banks are struggling to keep up with the internationally operating competition.

November 8, 2013

Greek Banks Want to Leave Western Balkans

According to “Kathimerini”, the exit of Greek banks froms the Western Balkan region is a difficult undertaking.

October 29, 2013

IMF: „Banks and Companies in a Vicious Circle“

Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.

October 11, 2013

Austria: Better off within Eurozone

Economic experts claim that since the beginning of the single currency union, Austria has seen an additional economic growth of 0.4 percent. According to them, a collapse of the Eurozone would lead to a massive decline in exports.

October 2, 2013

Eurogroup: Greece Requires Further Aids

Crisis-struck Greece will require further support by Eurozone member countries, according to head of the Eurogroup Jeroen Dijsselbloem.

September 5, 2013

Strache: „No New Aids for Greece“

Heinz-Christian Strache, leader of the Austrian Freedom Party (FPÖ), demands that further bail-out funds for Greece should be stopped immediately.

August 27, 2013

Austria: Fekter Reserved About Further Aids for Greece

In the debate about a third bail-out package for Greece worth billions, Austrian Finance Minister Fekter presented herself restrained.

August 22, 2013

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

Industrial Production Rose in Romania and Greece

In June 2013 compared with May 2013, seasonally adjusted industrial production grew by 0.7% in the euro area (EA17) and by 0.9% in the EU27, according to estimates released by Eurostat, the statistical office of the European Union.

August 13, 2013

20,000 Bank Shops Have Closed Since Beginning of Crisis

60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.

August 12, 2013

Slovenia Likely to Overcome Problems in Banking Sector

Slovenia’s problems in banking sector are controllable, according to experts.

July 31, 2013

Slovenia: Economy to Shrink Despite of Austerity Measures

Slovenian economy expected to contract 2.2 percent in 2013. Prior forecast: -1.9 percent.

July 26, 2013

Fekter: Eurozone More Stable Than A Year Ago

Austrian Finance Minister Maria Fekter has described the condition of the Eurozone as “better” than compared to a year ago.

July 9, 2013

TAP to Deliver Greece, Italy and CESEE

Shah Deniz targets Italian and Southeastern European gas markets through Trans Adriatic Pipeline.

July 1, 2013

Latvia Joining The Eurozone As 18th Member

Today the heads of states and governments of the European Union gave their blessing to Latvia’s entry to the Eurozone in 2014.

June 28, 2013

Austria: Harsh Blow for OMV

The pipeline “Nabucco”, a project with Austrian energy enterprise OMV taking the lead, will not receive gas from the gas field Sha Deniz II. This was announced by the mineral oil company on Wednesday.

June 26, 2013

Cyprus Demands Further Capital Aid

In a letter to the European Union, President of Cyprus Nikos Anastasiades demands further capital support for the Bank of Cyprus, the “Wallstreet Journal” reports. According to him, Cyprus’ economy depended on it.

June 19, 2013

Greece: Public Broadcast Station Shut Down

Greece has pulled the plug for the public broadcast station ERT yesterday.

June 12, 2013

Gazprom Withdraws from Greek Privatization Offer

The months of courtship were in vain. The Russian enterprises Gazprom and Sintez allowed the period prescribed for the privatization of Greek gas company Depa to expire.

June 12, 2013

Latvia: Euro to Be Introduced 2014

Latvia will be able introduce the Euro on January 1 2014. According to diplomats, this is what the EU Commission will recommend on Wednesday in Brussels.

June 4, 2013

Slovenia Hoping for Soon Recovery

Crisis-struck Slovenia intends to make more room financially by starting to privatize its state-owned banks. Experts regard the process to be carried out too slowly.

May 21, 2013

Croatia: Greece As A Threat To 2013 Tourism

Last year Croatian tourism proceeds increased 3.2 % on a year-on-year comparision. However, with Greek tourism expected to rebound to pre-crisis standards, the country fears to be left behind in the competition.

April 22, 2013

Forbes: “Austere Baltic States Outgrow Their European Neighbors”

Forbes magazine has dedicated a comprehensive article about how the Baltic countries manage to conquer the financial crisis.

April 17, 2013

Poland: Favorable Forecast Despite of Recession in 2013

Poland’s economy is the biggest among the younger member states and continues to grow even with the current recession.

April 17, 2013

Slovenia to Emerge From Quagmire By Itself?

A recent report by the OECD paints a dim picture of the country’s economic future.

April 17, 2013

Investigation Report Incriminates Managers of Bank of Cyprus

Mass purchase of Greek state bonds and removing of data.

April 5, 2013

Turkey’s Hopes of a Reunited Cyprus

The financial crisis in Cyprus is, according to Turkish President Abdullah Gül, an important opportunity to overcome the seperation of Cyprus.

April 4, 2013

Cyprus: 37.5 % Tax on Assets

The compulsory levy on bank assets exeeding € 100,000 has now been fixed. Assets above the amount will be taxed with 37.5 %.

March 30, 2013

EU’s Austerity Cuts Adverse to Health

EU’s austerity measures negatively affect citizen’s health, is the result of a health study carried out by “The Lancet”. The Commission was supposed to examine the political effects.

March 27, 2013

Austria Pays Almost € 300m in Greek Aid

Eurosystem gives away profits from support operations of Greek government bonds. € 281m comes from Austria.

March 16, 2013

EU Commission: Austrian Growth Above EU Average

Unlike the Eurozone, Austria will record a positive growth rate this year. Within the EU, the situation is highly different.

February 22, 2013

Klaus Recommends to Split Eurozone

According to the outgoing Czech President, the separation of the eurozone would be cheaper than maintaining the currency union.

February 7, 2013

WIFO: South Europe Needs New Industrial Policy

The Austrian Institute of Economic Research (WIFO) stresses that Spain, Greece and Portugal need new growth measures instead of austerity cuts.

December 15, 2012

Fekter: “We Have to Avoid Another Haircut”

Austria´s Minister of Finance Maria Fekter argues that another haircut would “constitute abuse of public office.”

November 28, 2012

„Greece Has No Future in Eurozone“

The Czech President Klaus thinks that the Eurozone could bear a Greek exit without any problems.

November 15, 2012

State Visit: Klaus Received by Fischer

Today, the Czech President Vaclav Klaus has met his Austrian counterpart Heinz Fischer in Vienna. The commonalities are rather small.

November 13, 2012

South Stream Pipeline: Construction Works to Begin in December

The pipeline projects of Russia´s gas group Gazprom makes substantial progress. Europe´s dependence on Russia is growing further.

November 12, 2012

IHS: Collapse of Eurozone would Cost 157,000 Jobs

The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.

November 5, 2012

Nowotny: Greek Haircut for ECB “No Issue”

The governor of Austria´s National Bank (OeNB) Ewald Nowotny thinks that ECB would not participate in a haircut.

October 29, 2012

IHS: „Greece Needs Haircut“

Christian Keuschnigg, head of the Austrian Institute of Advanced Studies thinks that another haircut will be inevitable.

October 24, 2012

„Nabucco Is not Dead at All“

The EU-Commissioner of Energy Günther Oettinger is optimistic that Nabucco will be successful. According to Austria´s Minister of Economics Reinhold Mitterlehner, the prospects of success are “50+”.

October 9, 2012

Fekter Rejects Deposit Protection in EU

At the Alpbach Financial Symposium, Austria´s Minister of Finance Maria Fekter underlined to reject the European deposit protection.

October 4, 2012
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