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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
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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
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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
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
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Poland: Lending Activity to Increase Significantly
Lending activity in the Polish finance sector is expected to increase significantly this year.
March 3, 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
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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
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
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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
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
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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
Polish Road Authority As Tardy Payer
Prime Minister Tusk seems unimpressed about ambassadors from six countries filing a complaint.
June 19, 2013
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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
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
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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
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
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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
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
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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
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
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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
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
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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
Economic Report: „Reducing Dependence on Europe“
Today, the Austrian government published its "Economic Report 2012".
July 9, 2012
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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
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
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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
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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
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
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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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Keuschnigg: „Problem Countries Must Cut Wages“
The designated director of the Austrian IHS (Institute of Advanced Studies) thinks that a drastic wage cut in Greece, Portugal and Spain is inevitable.
May 12, 2012
Kommunalkredit: Search for Buyer Goes on
In 2008, the former interest of VBAG was nationalized. The market environment would be too insecure, CEO Steinbichler says.
May 5, 2012
ESM: The Final Ruin of Europe
Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.
May 2, 2012
Austrian Banks Only Reached Minor Profits in 2011
Last year, consolidated profits of Austrian banks were down by 85%. In total, profits after taxes amounted to € 0.71bn. At the moment, Spain and Portugal are not regarded as risk factors.
May 2, 2012
Nowotny: “ECB Uses Bond-Buying Program Extremely Cautiously”
The governor of Austrian Central Bank (OeNB) Ewald Nowotny said the bank only buys government bonds in certain situations and with “extreme” caution.
April 21, 2012
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Felderer: „Women Must Have More Children”
The director of the Austrian Institute of Advanced Studies (IHS) sees a demographic problem in Austria as well as in Europe. Migration cannot solve the problem, Felderer says.
April 19, 2012
Big Exposure in Spain and Portugal
In total, Austrian banks have an exposure of € 4.3bn in the financially stricken EU-countries Spain and Portugal.
April 19, 2012
OeNB: “Nationalizations Are Clean Up”
Austria’s central bank (OeNB) said that the nationalization of three of the nation’s lenders helped clean up the structure of the domestic banking industry.
April 17, 2012
Economic Upswing for Austria?
The economic research institutes IHS and WIFO anticipate that the Austrian economy accelerates by summer 2012. Both warn of “too much euphoria”, however.
March 29, 2012
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