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“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 2014
Hypo Group: Shady Deals with Balkan Diplomats
The Austrian problem bank Hypo Group has troubles recovering debts.
May 3, 2014
Fitch Upgrades Rating for Slovenia
Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.
May 2, 2014
Majority of Czech Entrepreneurs Want Euro
According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.
April 30, 2014
Spindelegger: “Arsonists Are to Blame Not Fire Brigade”
The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.
April 29, 2014
Hypo Group: Huge Burden for Austrian Budget
The downsizing of problem bank Hypo Group Alpe Adria is a huge burden for this year’s budget.
April 29, 2014
Austria: Is Spindelegger Suitable as Finance Minister?
On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014
Poland: Budget Deficit Soaring
Last year the budget deficit amounted to 4.3 percent of GDP.
April 17, 2014
Slovakia as a Role Model?
In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.
April 16, 2014
Fitch: Polish Rating Foundations Very Solid
As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.
April 8, 2014
Hypo Group: Heavy Burden for Austrian Fiscal Position
The Austrian National Bank, however, expects the structural medium-term budgetary objectives to be achievable.
April 7, 2014
Czech Republic: Euro Support Still Weak
Almost a quarter of Czech citizens support the idea of joining the single European currency union.
April 2, 2014
Slovenia: Danger of Tax Increase
Because of the failed introduction of the property tax Finance Minister Uros Cufer suggested an inrease in VAT to compensate for the losses in revenue.
March 31, 2014
Austria: Economic Growth Slowly Getting in Gear
Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.
March 27, 2014
Poland: Pension Reform Not to Affect Rating
According to rating agency Fitch, Poland’s country rating will not be affected by the pension reform.
March 25, 2014
Slovenia Looking for New Investors
In an attempt is looking for new investors the small Eurozone member country is starting a series of roadshows in Europe starting from Monday.
March 24, 2014
Serbia to Continue Talks with IMF
Serbia's Minister of Finance Lazar Krstic announced that an International Monetary Fund (IMF) mission will visit Serbia for talks on a new three-year arrangement shortly after a new government is formed.
March 21, 2014
Slovenia: Exuberant Public Spendings
Public finances in Slovenia have gone wild as only after two months almost half of the total deficit planned for 2014 was spent.
March 20, 2014
Poland: “Time for Belt-Tightening”
Poland is required to cut the deficit in the public finance sector.
March 13, 2014
Serbia: “Reforms Are Social Responsibility”
According to economic advisor and former director of the International Monetary Fund (IMF) Dominique Strauss-Kahn, Serbia’s efforts to improve state finances and push through with reforms, was visible.
March 12, 2014
Hypo Group: Losses Expected to Run into Billions
Hypo Group Alpe Adria is expected to reveal losses of around € 2bn in the balance sheet for the business year 2013. Up to now, losses in the amount of € 1.3bn were expected.
March 12, 2014
Austria: Hypo Group Disaster with Exorbitant Costs
The extent of the disaster of Austrian problem bank Hypo Group Alpe Adria only starts to unfold bit by bit. A further capital injection of € 750m is needed only for the ailing bank to complete its balance sheets.
March 11, 2014
Hypo Group: Further State Aid Necessary This Year
Finance Minister Spindelegger fears that nationalized problem bank Hypo Group Alpe Adria will require further state aids for its downsizing still within this year.
March 10, 2014
Austria: State Aids for Banks Almost Exhausted
The financial framework for the banking aid for Hypo Group Alpe Adria is almost exhausted. So far the federal state of Austria has spent up to € 6.2bn.
March 8, 2014
Hypo Group: Risk Identified Already in 2009
Three months after a report on the risk and susceptibility to fraud of Hypo Group’s leasing affiliates was published by PwC, ailing Hypo Group was nationalized.
March 3, 2014
Hypo Group: Decision about Future Delayed
The decision about the future of Austrian problem bank Hypo will be delayed.
February 28, 2014
Austria: Tax Increases to be Resolved
The Austrian National Assembley will resolve tax increases.
February 24, 2014
Austria: Wifo Projects Gloomy Economic Outlook
A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.
February 21, 2014
Fitch Keeps Rating for Austria at High Level
According to the Rating agency the downsizing of Hypo Group will burden the debt rate. However, the outlook for the country’s credibility was left at a “stable” outlook.
February 21, 2014
Austria: Rating Endangered
US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.
February 20, 2014
Government Downplaying Effects of Hypo Group Desaster
Today, both Chancellor Werner Faymann and Finance Minister Michael Spindelegger had to explain their actions in regard to Hypo Group Alpe Adria in parliament.
February 17, 2014
IHS Rejects Hypo Group’s Bankruptcy
According to Keuschnig, it is also a question about a “national bankruptcy“.
February 13, 2014
Hypo Group: Bad Bank Active at Least 10 Years
Austria’s rating by Standard & Poor’s (“AA+”, stable outlook) is currently not compromised. Because of the establishing of the bad bank the debt rate will rise four to six percent.
February 12, 2014
FMA: Hypo Group Bankruptcy Incalculable Risk
The government does not dismiss the idea of a bankruptcy of ailing Hypo Alpe Adria. However, the Financial Market Authority (FMA) has expressly warned of this form of downsizing of the state bank.
February 10, 2014
Euro-Introduction: Cutting Debts Precondition for Poland
Finance Minister Mateusz Szczurek stressed that cutting debts was a key condition for Poland before it could be admitted to the single currency union.
January 29, 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
Kotian: “Growth in CEE is Accelerating“
In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.
January 20, 2014
Slovenia Attracting FDI from US and UK
The Slovenian Ministry of Finance is taking great efforts to attract investors from the US and the UK.
January 17, 2014
Slovenia: 2014 Credit Line of € 7.7bn
On Thursday the Slovenian government adopted a budget financing plan which includes this year’s credit line of up to € 7.7bn.
January 10, 2014
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
Fekter: Austrian Budget Gap Based on Unfavorable Economic Forecast
Yesterday afternoon current Finance Minister Maria Fekter and State Secretary of Finances Andreas Schieder met with the parliamentary budget committee. The opposition parties demanded answers and clarification in regard to the budget gap.
November 19, 2013
Austria: Bank Aids Burden State Budget
Since the beginning of the financial crisis, Austria has lost billions of Euros.
October 22, 2013
Austria: State Debts Could Amount to 74.5 Percent of GDP
The statistical office of the European Union, Eurostat, raised doubts about the Austrian budget deficit and public debts because of the financial scandal of the government of the province of Salzburg.
October 21, 2013
Bratusek: “We Are Paying for Your Debts”
On Tuesday Slovenian Prime Minister Alenka Bratusek presented the budget draft for 2014 and 2015 to the members of parliament.
October 9, 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: 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
Austria Pays Less Interest
Despite the lost „AAA“, Austria´s interest rate on recently issued bonds is on a record low.
April 10, 2012
Opposition Not Convinced: „Debt Brake“ Fails
The Austrian government´s plans to introduce a “debt brake” in the constitution has failed. The three opposition parties are against the idea.
December 5, 2011
„Debt Brake“ for Austrian Government
As the Austrian government fears a downgrade of its rating, the coalition partners agreed to install a „debt break“. Reactions are ambiguous.
November 15, 2011
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