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Loss for Vienna: Relocation of Saudi Center to Lisbon Finalized
The controversial KAICIID (King Abdullah Bin Abdulaziz International Centre for Interreligious and Intercultural Dialogue), which is largely financed by Saudi Arabia and is currently based in Vienna, will relocate to Lisbon.
October 25, 2021
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Call for Solidarity for China Sanctioned States Including Taiwan
A motion for a resolution was filed in the Austrian Parliament calling for the Austrian government to support countries, such as Taiwan, sanctioned by China for supporting democracy, human rights, and other global values. Read about the motion and the reasoning behind it.
October 21, 2021
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Covid-19 in Austria: These Are the Updated Entry Rules
Due to today's amendment of the Austrian "COVID-19 Entry Regulation 2021", we bring you an update on the regulations for entering Austria.
July 20, 2021
Weekly Briefing: End of Lockdown for Vienna and Lower Austria Stirs Up Hope
Now Vienna has also officially confirmed that on May 19 the long-awaited opening will take place. The end of the lockdown in Vienna and Lower Austria and nationally reaching 3 million Covid-19 vaccinations are not the only indications that the Austrian economic recovery gets off the starting blocks. Find out more about this week's developments.
May 6, 2021 · Updated: May 6, 2021; 17:05
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Portugal and Austria Mutually Interested in "Green Passport"
Portugal's high-ranking politicians, including President Rebelo de Sousa and Foreign Minister Santos Silva, and Austria's National Council President Sobotka have held discussions about the European "Green Passport". What they had to say about the IPU Conference in Vienna and the Conference on the Future of Europe, can be read below.
May 4, 2021
Edtstadler in Madrid and Lisbon: Talks About "Green Passport"
Austria's Federal Minister for European Affairs Karoline Edtstadler has travelled to Spain and Portugal in order to discuss the fight against Covid-19, coordination in reconstruction and the "Green Passport". She demands an economic comeback that is characterized by green and digital transformation.
April 28, 2021
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Czech, Slovakian, Portuguese, and Austrian Foreign Minister Demand EU Accession of Western Balkans
In a meeting of the Slavkov Trio, namely Foreign Minister from Slovakia, the Czech Republic and Austria, and the Portuguese Foreign Minister, EU accession of the Western Balkans were discussed. Additionally, Portugal is currently heading the EU Council and the Portuguese Foreign Minister was therefore able to inform the three others about current issues.
March 10, 2021
Covid-19: Austria Offers Admission of Portuguese Patients
To alleviate the current health crisis in Portugal, Austria accepted to admit ten patients that will be treated in Vienna and other provinces. Due to the slightly improved situation in Austrian intensive care units, the Portuguese Covid-19 patients and other patients with serious illnesses will be transfered to hospital in Austria.
February 5, 2021
Portuguese Foreign Minister Met Schallenberg
Portuguese Foreign Minister Santos Silva welcomed his Austrian counterpart Schallenberg for a working meeting in Portugal's capital Lisboa. The two ministers met prior to Portugal's upcoming EU Presidency to discuss the key issues that will be addressed during that time. These include the transatlantic relations as well as relations with the African continent, accession negotiations with Western Balkan countries and the social and economic impacts of the Covid-19 pandemic.
December 14, 2020 · Updated: December 21, 2020; 10:55
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Mandatory Quarantine for Austrians in UK & Norway
The United Kingdom and Norway introduced a travel warning for Austria which leads to a mandatory quarantine for people coming from Austria. Both countries are thus reacting on the highly increasing numbers of infections in Austria.
August 21, 2020
Austria Lifts Landing Bans for Airplanes from All 18 Countries that were Previously Banned
The previous landing bans for aircraft from 18 countries expired on 1 August 2020. From now on, new entry regulations will apply, requiring a mandatory Covid 19 test. There are exceptions for diplomats and some other groups.
August 1, 2020
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Landing Ban at Austrian Airports Extended from 10 to 18 Countries
In the fight against the coronavirus pandemic, Austria will reinforce the landing bans for aircraft from COVID-19 risk areas as of Thursday, 16 July. Thus, landing bans will apply to aircraft from the following countries: Albania, Belarus, Bosnia and Herzegovina, Bulgaria, China, Egypt, Iran, Kosovo, Moldova, Montenegro, North Macedonia, Portugal, Romania, Russia, Serbia, Sweden, United Kingdom and Ukraine.
July 14, 2020
Diplomats for the International Day Against Homophobia, Transphobia and Biphobia 2019
More and more embassies, delegations and permanent representations to international organisations supported this day (IDAHOBIT), that raises awareness of LGBT rights violations and stimulate interest in LGBT rights work worldwide, as well as EuroPride 2019 in Vienna.
May 29, 2019
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
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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
Poland: Lending Activity to Increase Significantly
Lending activity in the Polish finance sector is expected to increase significantly this year.
March 3, 2014
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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
Croatia: Real Estate Market Crisis Goes On
After the collapse of the Croat real estate market in 2009/10, the price decrease still holds on.
December 30, 2013
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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
IMF: „Banks and Companies in a Vicious Circle“
Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.
October 11, 2013
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End of Recession Supports Stock Exchanges in Europe
The Eurozone seems to have finally left recession behind. This is one of the reasons why markets closed trades with a plus on Wednesday.
August 15, 2013
Bolivia: “We Don’t Need a US Embassy“
Bolivian President Morales is still infuriated over the flight incident and considers closing of US embassy in La Paz. He is supported by his counterparts from Venezuela and Ecuador.
July 5, 2013
Vienna: Bolivian President Allowed to Continue Journey
Bolivan President Evo Morales had to land in Vienna after several European countries – among them Spain, France and Portugal – refused the right to overfly.
July 3, 2013
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Polish Road Authority As Tardy Payer
Prime Minister Tusk seems unimpressed about ambassadors from six countries filing a complaint.
June 19, 2013
Poland: Favorable Forecast Despite of Recession in 2013
Poland’s economy is the biggest among the younger member states and continues to grow even with the current recession.
April 17, 2013
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WIFO: South Europe Needs New Industrial Policy
The Austrian Institute of Economic Research (WIFO) stresses that Spain, Greece and Portugal need new growth measures instead of austerity cuts.
December 15, 2012
“Eurozone On Stable Ground”
Austria´s Minister of Finance Maria Fekter is optimistic. Spain, Portugal and Ireland are making substantial progress. However, the crisis is not over yet, she notes.
December 1, 2012
IHS: Collapse of Eurozone would Cost 157,000 Jobs
The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.
November 5, 2012
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Austria Appreciates Portugal’s Efforts of Budget Consolidation
State Secretary Lopatka meets with Portuguese State Secretary for EU Affairs, Luis Miguel Morais Leitão.
October 8, 2012
Austrian Guarantees Total € 80bn
In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.
August 27, 2012
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Declining Real Income: UBS Defends Report
Paul Donovan, author of the controversial study, was criticized by Austria´s Central Bank and Bank Austria. Donovan underlines that his study is correct.
August 24, 2012
Grexit: Aiginger Warns of Shock in the Balkan Region
Wifo´s (Austrian Institute of Economic Research) director Karl Aiginger thinks that a Greek exit would not only cause big problems for Greece itself, but for the whole Balkan region.
August 21, 2012
Austrian Real Income Fell Dramatically
Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.
August 20, 2012
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Kommunalkredit´s KA Finanz Needs New Guarantees
Because of its exposure in Greece, the nationalized Austrian lender needs further guarantees from the Austrian state.
August 6, 2012
Insolvencies in CESEE on the Rise
In 2011, the number of business insolvencies rose by 25% in the CESEE region. Hungary ranks first.
July 25, 2012
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Aiginger: „Feeding Banks Makes No Sense“
The director of WIFO (Austrian Institute of Economic Research) thinks that Spanish banks must be able to become insolvent.
July 24, 2012
Fischer Wants to Check ESM
Austria´s Federal President Heinz Fischer does not sign the ESM approval by the Austrian Parliament yet. „I am not under time pressure.“ he says.
July 11, 2012
Austrian M&A Activity Faces Depression
Due to the global insecurities, the M&A activities in Austria decreased substantially in the last year. Against the prior year, the number of deals was down by 27%.
July 11, 2012
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Economic Report: „Reducing Dependence on Europe“
Today, the Austrian government published its "Economic Report 2012".
July 9, 2012
WIFO Wants Unlimited Firewall
According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.
June 28, 2012
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Austrian Banks Affected by European Crisis
Bank Austria´s CEO Willibald Cernko still believes in the common currency. Last year, earnings went down by 14.6%.
June 26, 2012
CESEE Banks: Small Exposure in Southern Europe
The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.
June 20, 2012
Fekter Defends Euro Aids
Austria´s Finance Minister Maria Fekter underlines the „necessity of solidarity“ and stressed ist commitment to the common currency. The Austria opposition party FPÖ made a serious protest.
June 16, 2012
Kommunalkredit Sale: Austria Hires Morgan Stanley
The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.
June 6, 2012
Keuschnigg: „Raising ESM for Italy and Spain“
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies (IHS) argues for raising ESM funds to € 1,000bn.
June 4, 2012
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The Euro - A Big Error (Part 4)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 31, 2012
The Euro - A Big Error (Part 3)
The common currency did not create convergence, but widened the gap between Northern and Southern Eurozone member states.
May 29, 2012
The Euro – A Big Error (Part 2)
The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 23, 2012
The Euro – A Big Error (Part 1)
The system of the common currency has failed to work, but is still kept alive artificially. The euro brings enormous difficulties to stronger as well as weaker European economies.
May 20, 2012
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