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Labor Market Policy

Annual Report of the European Commission: How did Austria do?

The European Commission presented its annual reports on 27 EU member states. How did Austria do? Well, it kinda ended up with a black eye. The report took a pop at Vienna for a number of structural shortcomings, including tax burden on labour, pension and healthcare expenditures, house prices, restrictive regulation in the services markets, stagnating productivity and and not enough action on spreading digital technologies. That isn’t a particularly good report card for the previous coalition government of ÖVP und SPÖ. Let’s see if the new coalition government of ÖVP und FPÖ can make the grade the next time around.

March 11, 2018

“Romania Can Never Become the China of Europe”

Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.

May 15, 2014

Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI

The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).

May 7, 2014

Pewag Striving for Larger Market Share in US

The Austrian snow chain manufacturer appreciates the label “Made in USA”.

May 6, 2014

Federation of Industries: “Industrial Compact“ for European Competitiveness

The Austrian Federation of Industries (IV) considers the EU entry of Austria as the basis of prosperty and economic growth in the past years. However, now reforms are required to catch up to a global level.

May 5, 2014

Majority of Czech Entrepreneurs Want Euro

According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.

April 30, 2014

Austria: Is Spindelegger Suitable as Finance Minister?

On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.

April 28, 2014

Serbia: New Government Taking Drastic Measures

New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.

April 28, 2014

Austria: Difficult Market Situation for Selling Bawag

The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.

April 24, 2014

Eder: Policy-Makers Have to Make Decisions

Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.

April 24, 2014

Serbia: “Huge Challenges Ahead”

President Tomislav Nikolic appointed Aleksandar Vucic to form a new Serbian government.

April 23, 2014

Austrians Cautiously Observant

Despite economic recovery the Austrian citizens are still cautiously observant.

April 22, 2014

Industrial Location Austria Losing Attractiveness

Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.

April 16, 2014

Slovakia as a Role Model?

In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.

April 16, 2014

IMF Upgrades Growth for Slovenia

In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.

April 9, 2014

Fitch: Polish Rating Foundations Very Solid

As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.

April 8, 2014

Hungarian Electorial Law Supports Major Parties

Orban is the clear winner of the parliamentary elections in Hungary. He stressed that there are no more conflicts with the EU than any other member state had.

April 7, 2014

Serbia: Effective Measures for Economy

The Serbian Chamber of Commerce considers the measures for economic growth “a very big thing”.

April 7, 2014

Serbian Future Government Needs to Be “Compact”

According to the deputy leader of SNS, Aleksandar Vucic “shall introduce iron discipline in the Government.”

April 3, 2014

VIG: Takeover of Donaris Successful

Acquisition of the Moldovan insurer Donaris completed

April 3, 2014

Austria: “Financial Crisis is Not Yet Over”

Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.

April 2, 2014

Leitl: “Growth Must Not Mean Less Reforms”

Economic growth is now weaker than in the previous phases of upturn.

March 28, 2014

Austria: Economic Growth Slowly Getting in Gear

Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.

March 27, 2014

Hungary: Orban Striving to Become PM Again

In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.

March 26, 2014

Austria: Unemployment Rate to Remain at Record High

The Austrian unemployment rate is expected to remain at a record high even in 2015.

March 25, 2014

Serbia to Continue Talks with IMF

Serbia's Minister of Finance Lazar Krstic announced that an International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement shortly after a new government is formed.

March 21, 2014

Fitch: Elections Command Fiscal Consolidation and Reforms

Vucic appears to acknowledge the need for reforms in Serbia.

March 20, 2014

Serbia: Economic Activity Increases Speed

Since the beginning of 2014 economic activity has started to accelerate.

March 19, 2014

Wifo Warns European Council of Economic-Policy Standstill

The Austrian Institute of Economic Research sharply criticizes the current economic policy of the European Union and calls for a change of course to reach the self-defined targets.

March 19, 2014

Serbian President: Vucic is New PM

Serbian President Tomislav Nikolic named Aleksandar Vucic as new Prime Minister.

March 17, 2014

Belka: Poland Should Not Haste into Eurozone

Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.

March 17, 2014

Recovery of Austrian Economy Continues

Austrian economy continues its recovery despite weaker upswing.

March 17, 2014

Serbia: Vucic Stands Good Chances of Becoming PM

Vucic is regarded new Serbian Prime Minister in the parliamentary elections.

March 15, 2014

Austria: DiTech to be Taken Over by Investor

Insolvent computer equipment trader DiTech is supposed to be taken over by a German investor with Polish roots.

March 13, 2014

Serbia to Continue Path towards EU

Even after the elections the new government intends to continue the path towards an EU membership.

March 13, 2014

Serbia: Economic Changes Urgently Needed

Economic Forum highlights need for reforms.

March 5, 2014

Slovenia: NLB to Break Even in 2014

As part of the restructuring plan, the Slovenian bank is closing branch shops all over the country and downsizing its personnel.

March 4, 2014

Austria: Unemployment Rate Rises Once Again

Once again the unemployment rate in Austria saw a significant rise. More than 440,000 persons were registered jobsless in February.

March 3, 2014

Poland: Fastest Growing Economy in EU

According to the EU Commission, Poland will see the fastest growth in 2014 among the largest former communist countries of the European Union.

February 26, 2014

Serbia: Full EU Member by 2020?

Aleksandar Vucic, Deputy Prime Minister of Serbia, said on Thursday evening that the country had full political stability and announced that the country’s aim is to become an EU member in 2020.

February 22, 2014

EU Commission to Examine Slovenian Bank Restructuring Plan

Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.

February 20, 2014

Czech Republic: New Government Passed Vote of Confidence

The new Czech government under Prime Minister Bohuslav Sobotka has passed the vote of confidence in parliament yesterday.

February 19, 2014

Czech Republic: Government Asks for Vote of Confidence

The new Czech government was appointed at the End of January. On Tuesday Prime Minister Bohuslav Sobotka and his cabinet will ask for a vote of confidence in parliament.

February 18, 2014

Romania: Fit for Eurozone?

According to estimates by the Romanian government, the country is fit for joining the single currency union.

February 17, 2014

Poland: Economic Growth in 2013 above Expectations

GDP growth in Poland came at 1.6 percent year-on-year in 2013 which is 0.1 percent above expectations.

January 31, 2014

NLB Closing Moscow Office

The step is part of the restructuring and downsizing procedure.

January 27, 2014

“Croatia Going through Very Difficult Period“

The World Bank calls for structural reforms in the Western Balkan state.

January 27, 2014

Croatia: S&P Downgrades Rating

Standard&Poors; has downgraded Croatia’s rating to “BB”. The outloock on the long-term rating for the country is at least “stable”.

January 24, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Slovenia: NLB Facing Downsizing Measures

Slovenian NLB is facing severe downsizing measures. As part of the restructuring process, the country’s biggest bank has to lay off personnel.

January 24, 2014