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Michael Spindelegger

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Austria Insists on Financial Transaction Tax

Despite Germany’s finance minister sees little chance of a European Union agreement on the levy, Austria is sticking to plans for a financial-transaction tax in Europe to help consolidate its budget.

March 27, 2012

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Telekom Austria: Pecik Denies Sales Talks

The Austrian investor Ronny Pecik is said to have had sales talks with China Mobile. Pecik reaffirms to remain at Telekom Austria as “long-term investor”.

March 19, 2012

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Wirtschaftsbund: Leitl Re-Elected

Christoph Leitl, President of the Austrian Chamber of Commerce, has been re-elected as chairman of Wirtschaftsbund. 92.7% of the delegates voted for Leitl.

March 10, 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

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Public Dispute Over Privatizations

The two government parties disagree to the sale of further publicly held companies. ÖVP pushes for privatizations, for SPÖ the idea is inacceptable.

February 29, 2012

Moody's Put Austria on Warning

The Austrian “AAA” rating has been confirmed by the U.S. rating agency. However, credit-watch is put on “negative”.

February 14, 2012

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Austrian Government Presents € 27bn Austerity Package

The largest austerity package in Austria´s history mainly consists of cuts in expenditures. The government emphasized the socially balanced measures and the necessity due to reasons of competitiveness.

February 11, 2012

Government: Dispute Over Pensions

The Austrian government parties SPÖ and ÖVP disagree over contributions by retirees. The austerity package is far from being resolved.

February 6, 2012

Austerity: ÖVP Becomes Impatient

Negotiations between the coalition partners SPÖ and ÖVP are going on. ÖVP´s chairman Spindelegger locates an “incredibly big need of consolidation”.

January 31, 2012

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Central Bank Act: Orban Gives In

Hungary waives the planned merger of the Central Bank and the Financial Market Authority. Yesterday, Austria´s Minister of Foreign Affairs visited Orban in Budapest.

January 21, 2012

Government to Sharpen Austerity Measures

After the downgrade of Austrian sovereign bonds from „AAA“ to „AA+“ by S&P, the Austrian government aims to reach its austerity targets earlier.

January 17, 2012

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Downgrade: „It´s Time to Take Action“

The downgrade of Austria´s rating from “AAA” to “AA+” caused mixed reactions. The Austrian economy urges for structural actions.

January 15, 2012

Downgrade: Government Surprised and Criticized

For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.

January 14, 2012

ÖVP Does Not Exclude New Taxes Anymore

Against previous statements, the head of the Austrian conservatives, Michael Spindelegger, considers to introduce new taxes.

January 9, 2012

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Austria Grants Highest Subsidies in Europe

In 2010, subsidies amounting to 6.5% of the Austrian GDP were distributed. The EU-average is only the half.

January 7, 2012

Austerity Package: Business Association Warns of New Taxes

New taxes would be an “attack against the economy”, general secretary Peter Haubner says.

January 4, 2012

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Austrian Government Wants to Save € 10bn

The coalition partners agreed to cut expenses by € 2.0bn per year until 2016. Details were not published.

December 27, 2011

Debt Brake: Government Tries Again

In order to install the „debt brake“ into the constitution, the Austrian government tries again to persuade the opposition parties.

December 12, 2011

Up to 3.36% Salary Increase for Civil Servants

Salaries for Austrian civil servants will increase by 2.68% to 3.36%. The government and the union came to an agreement on Sunday.

December 5, 2011

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Austrian Government Pushes for Further Austerity Measures

The Minister of Finance, Maria Fekter, did not exclude an austerity package. First effects should be seen already in 2012. However, it is not clear yet if economic forecasts for the next year will hold.

November 26, 2011

Spindelegger: Cost Cuts and Privatizations to Save Triple-A

Annual interest payments would grow by € 3bn if Austria was downgraded by one notch.

November 11, 2011

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Spindelegger Wants New Impetus for Nabucco

The Austrian Vice-Chancellor calls for a quick realization of the pipeline project which is stalling at the moment.

September 28, 2011

Austria Considers Lawsuit Against Hungary

The Austrian Minister of Foreign Affairs, Michael Spindelegger (ÖVP) threatens Hungary to file a lawsuit at the European Court of Justice. Hungary plans to stress banks massively.

September 12, 2011

Economic Council Met for the First Time

Representatives from business and politics came together in the Federal Chancellery. The round of talks will be held three to four times a year.

July 4, 2011

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Austrian Government Reshuffle has been Completed

The resignation of Josef Pröll triggered a reshuffle in the ÖVP. Most of the positions have been filled by now.

April 22, 2011

Maria Fekter is the New Finance Minister

As part of the changes in the ÖVP government team, Minister for Internal Affairs Maria Fekter changes over to the more prestigious Ministry of Finance

April 16, 2011

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Spindelegger New Vice-Chancellor and Head of ÖVP