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Analysis: Austrian Economy Falls Behind Eurozone Average

The latest "Attractiveness Survey" from consultancy Ernst & Young Global Limited shows, that espite strong fundamentals, Austria’s economy lost some ground on the Eurozone average in 2014, with growth of just 0.4% compared with 0.9% for the Eurozone as a whole. This comparative weakness will also continue in 2015, with Austria’s GDP growth estimated at 1.1%, against 1.5% in the Eurozone. This is despite a boost from lower energy prices, quantitative easing from the European Central Bank (ECB) and a weaker euro.

June 1, 2015

List of National Days of the home countries of all foreign Missions and Delegations in Vienna, Austria

The Vindobona table below is an updated list of National Days of all nations, which belong to at least one of following categories: Foreign Missions and Delegations in Vienna, Austria; Diplomatic Corps and other representations in Austria; International Organizations in Vienna and Permanent Missions; Missions and Delegations to the OSCE.

February 11, 2015 · Updated: February 7, 2018; 08:12

Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area

At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.

October 23, 2014

Austria: Hypo Group’s Investigation Committee Ready for Action

The group of foreign experts at the investigation commission for Hypo Group Alpe Adria is supposed to guarantee the required objectivity. The first results are expected to be published at the end of the year.

April 10, 2014

Final Time-Out for Austrian Bank Secret

During the EU Summit the final time-out for the Austrian bank secret for foreigners was decided. Both Austria and Luxembourg agreed to give up their banking secrets.

March 21, 2014

Austria: Banking Secret for Foreigners to be Abolished Forever

From 2017 on, the banking secret for non-Austrian residents will be abolished completely.

March 11, 2014

EUSD: Austria “Ready to Agree“

Despite earlier statements to the contrary, Austria could now agree to the extension of the European Saving’s Directive (EUSD) during tomorrow’s ECOFIN meeting in Brussels.

March 10, 2014

Austrian Bank Secret Remains Until 2017

Austrian Finance Minister Spindelegger will present proposals for amendments of the EUSD tomorrow.

March 10, 2014

Austrian Bank Secrecy to be Abolished by 2016

EU Commissioner Algirdas Semeta recently stated that bank secrecy in Austria will expire since by then the automatic exchange of information will be implemented as a standard.

February 24, 2014

Bulgaria: FDI Keeps Increasing

FDI (foreign direct investments) increased by € 1,229.4m in Bulgaria in 2013 while equity capital came at € 953.4m last year.

February 18, 2014

Spindelegger Insists on Austrian Bank Secret

On Friday the Finance Ministry confirmed to the Austrian Press Agency (APA) that there is “momentum in the field” in regard to disclosure of information about bank accounts of foreigners.

February 10, 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

Bank Austria Generates Fresh Capital

On Monday, January 13, UniCredit Bank Austria issued its first mortgage bond for 2014 to strengthen its capital base.

January 14, 2014

Orco Property Group: Cut in Number of Board Members

Shareholders of Luxembourger real estate company Orco Property Group voted to cut the number of board members from nine to five on Monday.

January 8, 2014

Austria: Tax Increases Contemplated by Government

During the coalition negotiations increases of taxes on tobacco and alcohol is currently considered by the Social Democrats (SPÖ) and the People’s Party (ÖVP).

December 9, 2013

WKO: Better Framework Conditions for SMEs

Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.

November 26, 2013

EU Commission Criticizes Austria Once More

The EU Commission has again criticized Austria and Luxembourg and demands the countries to stop blocking the extensive exchange of tax data.

November 15, 2013

ESM Charges € 262 From Every Austrian

The establishing of the European Stability Mechanism (ESM) burdens every Austrian citizens with an average amount of € 262. Luxembourg is the country contributing the most per capita followed by Ireland.

September 24, 2013

Austria: Unemployment Rose By 9.5 Percent

In total, 330,309 persons were looking for a job in May. Austria still has the lowest unemployment rate within the European Union.

June 3, 2013

Croatia: PM Anxious About Country’s Image

Prime Minister Zoran Milanovic announced that Croatia had to fight hard for its reputation within the European Union.

May 27, 2013

Banking Secret until 2015 in European Union

The banking secret for tax foreigners in the European Union could finally be completely aborted by 2015. There is an ambiguity about Luxembourg’s position in advance to the EU mini-summit over the extended EU Savings Directive (EUSD).

May 22, 2013

Austria to Give Up Bank Secret for Foreigners

After years of blocking, Austrian Finance Minister Maria Fekter gave green light to the abandoning of the bank secret for foreigners.

May 14, 2013

Semeta Confident Austria and Luxembourg Stop Blocking

EU Tax Commissioner Algirdas Semeta does not expect any blocking by Austria for the loosening of the bank secret for foreigners and the transition to the automatic exchange of information.

May 6, 2013

Bulgaria: FDI Increased by € 40.3m

Largest investments from Greece (€ 9.4m). Austria ranks 4th (€ 6.1m) in investors.

April 18, 2013

Meeting of German-speaking Finance Ministers in Berlin

On Wednesday, 13 March 2013, German Finance Minister Dr Wolfgang Schäuble welcomed the German-speaking Finance Ministers of Europe to talks in Berlin. The talks focused on current finance and fiscal policy issues.

March 15, 2013

Austria Records Highest Unemployment of All Times

With 410,000 job-seekers, unemployment has never been higher. Nevertheless, Austria has the lowest unemployment quota in the EU.

February 1, 2013

EU Wants Austria to Give Up Bank Secret

Commissioner Algirdas Semeta threatens with a complaint against Austria. According tom him, Austria and Luxembourg are blocking the automatic information exchange.

January 25, 2013

Euro Exchange Rate: Nowotny Contradicts to Juncker

According to Eurogroup-chief Jean-Claude Juncker, the exchange rate of the euro is “dangerously high”. Nowotny disagrees with Juncker.

January 16, 2013

Bank Secret: Brussels Increases Pressure on Austria

EU-Commissioner Algirdas Semeta calls Austria and Luxembourg to give up their blockade against the reform of the interest taxation directive.

January 14, 2013

Juncker´s Succession: Faymann Out of the Race

The talks about the succession of Jean-Claude Juncker as chairman of the Euro-Group are going on. Austria´s Chancellor has only little prospects.

December 6, 2012

Austrian Purchasing Power Stagnates

Next year, the purchasing power will only grow by 0.5%, the Austrian market research institute RegioData Research says.

November 29, 2012

Allianz: Austria´s Economic Position Improves

According to the German insurance group, the economic situation of ten out of 17 Eurozone member countries has worsened. Austria could make up one place.

November 26, 2012

Austrian Presents Piorities for the “EU budget of the future”

State Secretary Lopatka in the EU Sub-Committee of the National Council.

October 10, 2012

ESM: Slovakia Pays € 264m

In October, the Slovak government will transfer € 264m to ESM. This will be the first two installments.

October 4, 2012

Bank Secret: Semeta Criticizes Austria´s Position

According to the EU Commissioner Algirdas Semeta, Austria´s bank secret is “out-dated”. He criticizes that Austria and Luxembourg still reject to give up the bank secret.

October 1, 2012

Bankruptcy Prevented: Schlecker Austria Becomes „daily“

The Austrian investment funds TAP 09 acquires the financially stricken chemist chain. Schlecker Austria should become a local grocer.

July 31, 2012

Bank Secret: EU Commission is Frustrated

The European Commission is dissatisfied with Austria´s and Luxembourg´s blockage of the interest taxation directive.

May 16, 2012

Austria´s Bank Secret Endangered

„I will withstand.“ Maria Fekter, Austria´s Minister of Finance said. The resistance against the EU directive on the taxation of interest will not be given up, Fekter reaffirmed.

May 15, 2012

Bronze Medal for Austria’s Economy

According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.

June 21, 2011

Christof Holding AG Takes over BEA Electrics from bluO

With the acquisition of 100 % of Vienna-based BEA Electrics, the Styrian Christof Holding AG, which is wholly owned by the Christof family, continues its expansion.

April 27, 2011
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