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Michael Spindelegger

Hypo Group Alpe Adria: Austrian Government Becomes Nervous

Although the participation of the private banking sector is unrealistic, the Austrian government does not give up. However, the time pressure grows week by week.

January 18, 2014

Austria: What Happened to the Budget Gap?

The question remains even after the government was confirmed and the first tax package presented.

January 16, 2014

Austria: Expert Paper for Hypo Group’s Bad Bank

An expert paper about possible downsizing options for state-controlled problem bank Hypo Group Alpe Adria is expected to be handed in to the government until the middle of the week.

January 13, 2014

Austrian Budget Planning to be Completed in May

The six groups in the National Assembley have agreed to the parliamentary plan for the first half year of 2014.

January 13, 2014

Austria: VBAG Not to Receive Further Aids

Ailing banking institute VBAG of the Austrian Volksbanken Group will not be granted further state aids.

January 13, 2014

Austria: First Tax Package to Be Presented

The Austrian government intends to present the first tax package tomorrow.

January 8, 2014

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: Austrian Government Seems Aimless

Although the restructuring of the nationalized Austrian lender is one of the most pressing issues, the Austrian government could not present a sound concept yet.

December 27, 2013

Austria Bought Time for Examining Hypo Deal

Austria was granted more time for a possible appeal of the purchase of problem bank Hypo Group Alpe Adria from former parent company BayernLB.

December 23, 2013

„No Debt-Backed Tax Reform“

Austrian Finance Minister Michael Spindelegger underlines that Austria has to put more effort into fiscal consolidation measures.

December 23, 2013

Austria: New Government Already Disappoints in the First Week

In 2014, Austria will not achieve its fiscal objectives, new Minister of Finance Michael Spindelegger admitted. Austria´s fiscal situation is observed critically. The country faces a new austerity package.

December 23, 2013

Austria: Options of Bad Bank for Hypo under Examination

Finance Minister Spindelegger intends to meet with experts to discuss options of a bad bank for Hypo Group Alpe Adria.

December 20, 2013

Austria: Opening Balance Reveals Massive Mountain of Debt

Public debts exceed the federal assets by more than double the amount, as revealed by the opening balance published by outgoing Finance Minister Maria Fekter last weekend.

December 16, 2013

Austria: Spindelegger Replaces Fekter

The designated cabinet members were presented to the public today. Maria Fekter will not be a cabinet member anymore.

December 13, 2013

Austria´s Government: Old Turns into New

The leaders of the old government, Chancellor Werner Faymann and Deputy Chancellor Michael Spindelegger, announced to form a new government.

December 12, 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

Hypo Alleged of Having Hoarded Assets of Former Serbian Regime

A Serbian NGO suspects assets of former Serbian President Slobodan Milosevic at Hypo Group Alpe Adria. The Austrian bank strongly rejects this allegation.

December 6, 2013

Faymann: “No Outstanding Issues That Cannot Be Solved“

In an interview with Austrian daily “Kurier“ Chancellor Werner Faymann rejects the idea of early elections and underlines that there were no unsolvable issues.

December 4, 2013

Spindelegger: Reforms Remain “Watchword“

Today Deputy Chancellor Michael Spindelegger has reported to President Heinz Fischer about “difficulties” in the coalition negotiations, as announced by Spindelegger publicly.

December 4, 2013

Austria: Insolvency of Hypo Group Still an Option

Both the center of government and the Austrian National Bank (OeNB) reject Hypo Group’s bankruptcy. However, insolvency options are currently being assessed by the Finance Ministry and the Federal Law Office.

December 4, 2013

Faymann: Austrian State Finances are Stable

Chancellor Werner Faymann rejects the opposition’s claim that Austria is on its path to national bankruptcy.

December 3, 2013

Austria: Government Rules Out Hypo Group’s Insolvency

Chancellor Faymann referred to incalculable economic and political consequential effects due to the liabilities assumed by Hypo Group Alpe Adria.

December 3, 2013

RBI Approves Participation in Bad Bank for Hypo

CEO of RBI Sevelda expects Austrian government to set a time limit for bank levies until the end of 2016.

November 18, 2013

Hypo Bad Bank Not to be Established Before 2014

Insiders do not expect the downsizing unit for state-owned Hypo Group Alpe Adria to be established before 2014.

November 15, 2013

Austria: Fekter Indicates Resignation

Even before the general elections in September rumors were circling around about Finance Minister Maria Fekter’s withdawal from her position.

November 14, 2013

Austria: Bad Bank For Hypo As Good As Guaranteed.

Chancellor Faymann and Deputy Chancellor Spindelegger are in favor of creating a bad bank for Hypo Group.

November 14, 2013

Austrian Budget Gap „Only € 18.4bn“

The Austrian government has re-calculated the fiscal shortfall. Scheduled Bank aids come at € 5.8bn. There will be no austerity package, the government claims.

November 14, 2013

Austria: Budget Gap Smaller than Expected

The budget gap will, according to the latest reports, comes at an amount between € 21bn and 25bn until the year 2018. Earlier there had been talk of a shortfall amounting up to € 30bn to € 40bn.

November 13, 2013

Austria: New Fiscal Difficulties

Austria´s state budget 2014 is not resolved yet. Moreover, a number of assumptions are highly uncertain.

October 17, 2013

Austria: President Prefers Grand Coalition

President Heinz Fischer has confirmed his wish for the formation of a grand coalition as this would be “the most reasonable solution”, according to him. Other possibilities were afflicted with too many uncertainties.

October 7, 2013

Austria: Pussyfooting around Forming Government Coalition

The Austrian People’s Party is picky in regard to choosing a coalition partner. So far the ÖVP has shown no interest in starting coalition talks with former partner SPÖ. However, there are not many options left.

October 2, 2013

Austrian Elections 2013: Government Punished by the Voters

The two governing parties SPÖ and ÖVP have reached their worst results ever. Nevertheless, nothing will change in Austria.

September 29, 2013

Austrian Elections 2013: Governing Parties Lose Moderately

The Austrian political landscape has changed. New parties will enter the Austrian Parliament. Nevertheless, there is no realistic alternative to the “grand coalition” between SPÖ and ÖVP.

September 29, 2013 · Updated: September 29, 2013; 17:59

Does Austria Need Further Privatizations?

Voestalpine´s CEO Wolfgang Eder wants to support the Vienna Stock Exchange. Without further privatizations, the stock market in Vienna could be history soon.

September 24, 2013 · Updated: September 25, 2013; 11:30

Austria: SPÖ and ÖVP Hold Slight Majority of Votes

According to the latest survey, the Social Democrats (SPÖ) and the Austrian People’s Party (ÖVP) will have to face losses in the elections of the National Assembly on Sunday. However, they should be able to hold the majority.

September 24, 2013

Leitl: “Grand Coalition Did Not Fulfill Expectations“

Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), favors a change in the governing parties as the grand coalition has not realized the necessary reforms.

September 24, 2013

Austria: ÖVP Rejects Tax Reforms by Social Democrats

Chancellor and Leader of the Social Democrats Werner Faymann is in favor of lower taxes on wages. His model includes reliefs of up to € 1,011 annually. However, coalition partner, the Austrian People’s Party (ÖVP) rejects the plans.

September 18, 2013

Faymann: New Government Will Be Smaller

In an interview with Austrian daily “Österreich“ (Sunday issue) Chancellor Faymann announced that the new government will be reduced by two members of parliament.

September 16, 2013

Austria: Chancellor and Deputy Chancellor Lose in Trust Index

Compared to the results of last month, both Chancellor Werner Faymann and his Deputy Michael Spindelegger have lost the voters’ trust according to the APA/OGM Trust Index that was carried out on a sample of 500 persons.

September 13, 2013

Hypo Needs € 700m in Capital Increase

The ailing banking group needs a further capital injection in order to fulfill the lawful capital adequacy requirements.

September 12, 2013

Austria: Spindelegger Confident About Becoming New Chancellor

The intense elections campaign for the Austrian People’s Party (ÖVP) has officially started on Tuesday. Deputy Chancellor and party leader Spindelegger promised more jobs and housing space.

September 11, 2013

Austria: Spindelegger in Favor of “Creative Model“ for Banks

Deputy Chancellor Spindelegger seems willing to lead open discussions about the extension of bank levies.

September 6, 2013

Haselsteiner as Candidate for NEOS

Austrian party NEOS has added former CEO of Strabag Hans-Peter Haselsteiner as top candidate for the parliamentary elections. Haselsteiner has so far supported the party behind the scenes.

September 5, 2013

Faymann: “Banks Should Pay for Hypo”

Austrian Chancellor Werner Faymann does not consider a new austerity package necessary despite of the threatening billions of Euros for the selling and winding-up of the ailing bank.

September 5, 2013

Survey: Faymann Best Chances of Becoming Chancellor

According to a survey carried out for Austrian daily “Standard”, the Social Democrats are gaining in votes while the Austrian People’s Party is slightly falling behind.

August 30, 2013

Austria: Faymann Mocks Schwarzenberg

The Austrian Chancellor reacts to Schwarzenberg’s criticism against Foreign Minister Spindelegger.

August 28, 2013

Austrian Economy Minister: “No Time for Idle Complacency”

Austrian Minister of Economics and former general secretary of the Austrian Chamber of Commerce (WKO), Reinhold Mitterlehner avoids any dispute with Christoph Leitl, President of WKO but signals a different opinion.

August 27, 2013

Austria: First Chancellor’s Duel

Chancellor Werner Faymann (SPÖ) and Deputy Chancellor Michael Spindelegger (ÖVP) had their first official chancellor’s duel on TV on Monday. However, people waiting for a major dispute had been disppointed.

August 27, 2013

Schwarzenberg Criticizes Spindelegger

The former Czech Minister of Foreign Affairs Karel Schwarzenberg thinks that Austria´s Foreign Minister Michael Spindelegger mainly focuses on domestic politics. The CEE region should co-operate closer in future, he claims.

August 24, 2013

Austria: Spindelegger Demands Flexibility of Working Hours

Working hours have become the main issue of the election campaigns. The dispute was incensed by the claims of Minister of Economy Mitterlehner to allow up to twelve hours of work per day.

August 19, 2013
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