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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
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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
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
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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
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
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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
Nowotny: “Portugal in Much Better Shape Than Greece”
The Governor of the Austrian Central Bank (OeNB) and ECB Council Member Ewald Nowotny is optimistic on Portugal´s medium-term prospects. The country faces much less liquidity constraints than Greece.
March 21, 2012
No Further Rise in Insolvencies Expected
The bad debt insurers Euler Hermes and Prisma expect business insolvencies to stagnate in 2012.
February 2, 2012
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Austria Considers to Employ South Europeans
Especially the tourism and the construction industries are ready to take on high-skilled workers from Spain, Greece or Portugal.
December 8, 2011
Andritz Receives Major Order for Power Station in Portugal
The Austrian technology group was awarded an order for the supply and erection of the complete electromechanical equipment for the pumped storage project Foz Tua.
November 25, 2011
Kapsch TrafficCom Wins Order in Portugal
The Austrian technology company takes over installation, technical operation and maintenance of an electronic toll collection system.
July 26, 2011
Austrians Support Aid for Greece
The majority of the Austrian population does not want to let Greece down. 55% see the common currency at risk.
June 22, 2011
Bronze Medal for Austria’s Economy
According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.
June 21, 2011
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Stable PIGS-Exposure of Austrian Banks
The last quarter of 2010 has brought only minor changes in the total amount of lending to the four countries in southern Europe by Austrian banks.
June 6, 2011
Austria’s Exposure to Portugal: € 433m
France is clearly the larges creditor of the troubled country. Portugal owes Austria € 433m.
April 8, 2011
Andritz: Order in Portugal
The Austrian industrial plant manufacturer based in Graz reports an order for € 40m from the Portuguese power company EDP.
January 26, 2011
Austrian Resistance Against Euro Bonds
Massive criticism comes from Germany, the Netherlands and Austria against the proposal to implement euro bonds to stabilize the currency in the EU.
December 8, 2010
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