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Maastricht Criteria

Poland: Economic Upswing not before 2014

Poland´s National Bank NBP expects that the country´s economic performance will not improve visibly this year.

July 16, 2013

Poland Sharpens Austerity Measures

In order to fulfill the Maastricht Criteria sustainably, Poland wants to reduce the budget deficit to 1.0% of GDP in 2015.

March 15, 2013

Latvia: Letter Requesting the Convergence Report is Signed

The Baltic country wants to become a member of the Eurozone by 2014.

March 5, 2013

Latvia: Eager for the Euro. But ready?

Latvia’s leadership considers adopting the Euro in 2015 or 2016. Despite of showing the fastest economic growth rate at 5.1 % in Europe, there is scepticism Latvian population.

March 4, 2013

Czech Republic: CNB Fights Against Recession

As the interest rate was cut to a technical zero, the Czech National Bank considers intervening against the crown.

March 4, 2013

Austria Become Second Most Important Trading Partner for Hungary

Last year, only the foreign trade volume between Hungary and Germany was higher. Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz says.

February 23, 2013

Austria: Budget Deficit Lower than Anticipated

The Austrian federal government's administrative deficit during 2012 was approx. € 7bn. Relative to the budgeted figure of approx. € 11.1bn, this represents a savings of approx. € 4.2bn.

February 1, 2013

„Whatever Happens to the Euro, Happens to Our Currency“

In an interview with the Austrian daily newspaper “Kurier”, Latvia´s Prime Minister Valdis Dombrovskis explains why Latvia joins the Eurozone. However, the Latvians are not convinced at all.

January 30, 2013

Slovenia Sharpens Austerity Measures

The Slovenian Parliament resolved the budgets for 2013 and 2014. The country tries to fulfill the Maastricht criteria.

December 8, 2012

Hungary: Next Austerity Package Resolved

The Hungarian government is caught between the need to lower the budget deficit and to support economic growth.

November 17, 2012

Austrian Budget: Experts Call for Further Reforms (Part 3)

Economists think that the budget does not contain enough reform steps. The opposition does not see any signs of progress.

October 16, 2012

Austria to Violate Maastricht Criteria in 2012

This year, the Austria budget deficit will not be below the 3.0% threshold. This is mainly due to the banking package.

October 15, 2012

Slovenia Resolves Financial Transaction Tax

The Slovenian government wants to introduce a 6.5% tax on securities trading. The financial industry criticizes the government massively.

October 9, 2012

Slovenia to Sharpen Austerity Measures

The Slovenian centre-right government announces new austerity cuts. The budget deficit should be lowered to 3.0% of GDP.

October 5, 2012

Austrian Public Debt at 75% of GDP

Public Finances 2011: Public deficit at 2.5%, Public debt at 72.4% of GDP. In the first half of 2012, Austria´s public debt level grew by € 6bn.

September 28, 2012

Latvia: Introduction of the Euro Wobbles

The majority of the Latvians are against joining the Eurozone. The Latvian government is under pressure.

September 22, 2012

Latvia: Fit for the Eurozone

According to Latvia´s Central Bank, the country will fulfill the Maastricht criteria by the end of the year.

September 18, 2012

Bulgarian President Wants to Attract Austrian Investors

On the occasion with a meeting between the Bulgarian President Rosen Plevneliev, the Austrian President Heinz Fischer and Lower Austria´s governor Erwin Pröll, Plevneliev underlined the importance of Austrian investors for Bulgaria.

September 17, 2012

„I´m Concerned About the Atmosphere in Southeastern Europe“

In an interview with the Austrian newspaper “Presse”, the Croatian Minister of Foreign Affairs Vesna Pusic explains that Croatia still aims to become a member of the Eurozone. The Maastricht Criteria would not be fulfilled yet, she says.

September 11, 2012

Austerity Package: Czech Government Asks for Vote of Confidence

After the austerity package was disapproved by the Czech Parliament, the government resubmits the bill to the Chamber of Deputies.

September 10, 2012

Slovakia: Budget Deficit Reached € 2.67bn

In August, Slovakia´s budget shortfall increased to € 2.675bn from € 2.239bn in July.

September 4, 2012

Majority of Poles Against Joining Eurozone

About 58% of the Polish citiczens are against the introduction of the euro, TNS Polska reports. Only 12% think that joining the Eurozone would be good for Poland´s economy.

August 24, 2012

Maastricht Criteria: Austria in the Middle Field

In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.

April 23, 2012

VBAG´s Rescue Endangers Austerity Targets

In 2012, savings should reach € 576m. However, only write-offs in VBAG cost € 700m. The Austrian government seeks for additional revenues.

February 29, 2012

Austrian Government Debt Quota Declining Slightly

Euro area government debt down to 87.4% of GDP in the third quarter 2011 compared with second quarter 2011.

February 6, 2012

Austrian „Debt Brake“ Resolved

Due to the lack in approval by the opposition parties, the „debt brake“ will only be resolved as a simple act.

December 8, 2011

Austrian Budget: 3.2% Deficit in 2012

Today, the Austrian Minister of Finance, Maria Fekter, presented the budget for 2012. The debt quota rises further until 2015.

October 19, 2011

New High for Austria´s New Indebtedness

Austria´s budget deficit for 2010 is at 4.6%, which is the highest one in the last 15 years. However, the average of EU-countries is even higher.

April 27, 2011

Austrian Public Deficit up to 4.6%

Public Finance 2010: Public deficit at 4.6%, public debt at 72.3% of GDP

April 1, 2011

Leitl Demands Reduction of Public Debt

The President of the Austrian Economic Chamber sees potential for efficiency in the administration, as well as in the health and pension system

April 1, 2011

Budget-saving Measures in Austria are Insufficient

According to the WIFO, budget deficit and public debt are lower than the EU average; central potential savings have been neglected however.

January 26, 2011

Nowotny Calls for Consistent Budget Consolidation

The Governor of the OeNB draws balance at the end of the year and gives his outlook on the challenges for 2011

December 30, 2010

Raiffeisen Foresees a Weak Decade for Europe

RLB Niederösterreich-Wien expects hardly any economic growth, particularly in the euro countries. Austria is however relatively well positioned.

December 28, 2010

Austrian Official Debt Level Rises

Due to the EU-wide commitment to a more transparent presentation of liabilities, the official debt ratio of Austria will continue to increase.

December 21, 2010

Austria's Tax Revenues are Higher than Expected

As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.

December 17, 2010

Bank Austria´s Economic Analysis: 2% Growth in 2011

The analysis of the Austrian economy forecasts a strong recovery. Improvements in the labour market will continue, but the positive trend weakens.

December 16, 2010

Extra-budgetary Debts Grow Unabated

Debt levels which are not attributed to the Austrian Federal Budget rise exorbitantly. Above all, the ÖBB and Asfinag are responsible.

November 30, 2010

The ÖBB is a Risk Factor for the State Budget

While the investment projects for the ÖBB are being reduced by Transport Minister Doris Bures, a fiasco is threatening on the revenue side.

November 15, 2010

New Budget: Details and Reactions

The entire tax package will bring additional revenues for around 1.2 billion euro. There are further saving measures for 1.6 billion euro. Reactions from the economic actors are ambivalent.

October 25, 2010

Austrian Federal Railways in Debt Crisis

Several infrastructure projects will increase the debt burden of the Federal Railways dramatically. This could bring considerable effects for the financial situation of the whole Federation.

October 19, 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

Austria exceeds the Maastricht GDP reference value by 0.5%

Public Finances 2009: Public deficit increases to 3.5% due to the economic and financial crisis.

September 30, 2010
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