Public Debts

“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
Fast News Search