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SPOE

Government´s Plans on Bank Insolvency Law Failed

The Austrian government initially planned to initiate a bank insolvency law in order to liquidate financially stricken banks without major difficulties. Now, the plan has failed.

June 22, 2012

Uncertain Future for ÖIAG

After CEO Markus Beyrer announced to resign, a new debate about the future of the publicly held Austrian industrial holding emerged.

June 19, 2012

A “Speech to Austria”? No.

The disenchantment with politics in Austria is as big as never before. An ambitious, but meaningless speech of Vice-Chancellor Spindelegger will not change the misery.

May 15, 2012

Labor Time: Resistance Against SPÖ´s Plans

The governing Social-Democrats want to reduce labor time. Industrialists, the Chamber of Commerce and FPÖ decline that idea.

April 17, 2012

Austria and Switzerland Signed Tax Treaty

Austria´s Finance Minister Fekter signed the tax treaty with her Swiss colleague Eveline Widmer-Schlumpf. In 2013, additional tax intake of € 1.0bn is expected.

April 14, 2012

Telekom Austria: Pecik Denies Sales Talks

The Austrian investor Ronny Pecik is said to have had sales talks with China Mobile. Pecik reaffirms to remain at Telekom Austria as “long-term investor”.

March 19, 2012

Wirtschaftsbund: Leitl Re-Elected

Christoph Leitl, President of the Austrian Chamber of Commerce, has been re-elected as chairman of Wirtschaftsbund. 92.7% of the delegates voted for Leitl.

March 10, 2012

Public Dispute Over Privatizations

The two government parties disagree to the sale of further publicly held companies. ÖVP pushes for privatizations, for SPÖ the idea is inacceptable.

February 29, 2012

Austrian Government Presents € 27bn Austerity Package

The largest austerity package in Austria´s history mainly consists of cuts in expenditures. The government emphasized the socially balanced measures and the necessity due to reasons of competitiveness.

February 11, 2012

Austrian Government Resolves Austerity Package

Speculation terms on real estate will be abolished, the tax privilege on 13th and 14th salary too. Inheritance taxes or enrollment fees will not be re-introduced.

February 9, 2012

Austerity Package Takes Form

Although negotiations over the austerity package are not finished, first details are already known.

February 7, 2012

Government: Dispute Over Pensions

The Austrian government parties SPÖ and ÖVP disagree over contributions by retirees. The austerity package is far from being resolved.

February 6, 2012

Austerity: ÖVP Becomes Impatient

Negotiations between the coalition partners SPÖ and ÖVP are going on. ÖVP´s chairman Spindelegger locates an “incredibly big need of consolidation”.

January 31, 2012

ÖVP Does Not Exclude New Taxes Anymore

Against previous statements, the head of the Austrian conservatives, Michael Spindelegger, considers to introduce new taxes.

January 9, 2012

Austerity Package: Business Association Warns of New Taxes

New taxes would be an “attack against the economy”, general secretary Peter Haubner says.

January 4, 2012

Government: Different Opinions on Taxation

The social democrats want to re-introduce the inheritance tax. The people´s party plans to raise tax quotas for the 13th and 14th salary.

January 3, 2012

Austrian Enterprises Fear Nationalization in Hungary

Nationalization plans induce fierce criticism against the Hungarian Government. The Austrian waste management industry would be hit hard.

January 2, 2012

Austrian Government Wants to Save € 10bn

The coalition partners agreed to cut expenses by € 2.0bn per year until 2016. Details were not published.

December 27, 2011

Debt Brake: Government Tries Again

In order to install the „debt brake“ into the constitution, the Austrian government tries again to persuade the opposition parties.

December 12, 2011

Austrian „Debt Brake“ Resolved

Due to the lack in approval by the opposition parties, the „debt brake“ will only be resolved as a simple act.

December 8, 2011

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

Austerity Measures or New Taxes?

The Austrian government has to reduce its deficits, after having announced the “debt break”. The social democrats call for property taxes.

November 19, 2011

Verbund´s Subsidiary APG Going Public?

The IPO of Verbund´s subsidiary Austrian Power Grid is being discussed.

October 25, 2011

Dispute Over A-Tec´s Liquidation

After the Sale of the insolvent Austrian A-Tec has failed, the subsidiaries will be sold separately. Austrian politicians warn of the loss of jobs, technology and tax revenue.

October 3, 2011

Austrian Telekom: Social Democrats Warn of „Unfriendly Takeover“

For the executive director of the SPÖ, Günther Kräuter, “a new major shareholder from Egypt or Russia would be problematic.”

September 12, 2011

“Telekom, Post and OMV Could Be Privatized Immediately”

Karlheinz Kopf calls for privatizations in the infrastructure sector. Last year, the Austrian state earned € 244m from its shareholdings.

September 5, 2011

Property Tax : € 25.000 for Every Rich Person?

The Austrian Socialist Party (SPÖ) claims to introduce property taxes. About 80.000 people in Austria would be concerned.

September 5, 2011

Mitterlehner with Plans for Reform of ÖIAG

The Minister of Economics intends to reposition the Austrian state holding company. Markus Beyrer, the new CEO, is currently evaluating new concepts.

July 25, 2011

Resistance to Privatization Plans

The SPÖ criticized the plans of its coalition partner ÖVP to reduce public participation in order to abate debt.

May 10, 2011

Vienna International Airport: Kirschner is the New Chairman of the Supervisory Board

Ewald Kirschner will temporarily lead the Supervisory Board until CEO Christoph Herbst takes over the chair again. Opinions are divided concerning the privatization of the company.

April 27, 2011

Lower Austria Seeks Airport Privatization

Lower Austrian Governor Erwin Pröll (ÖVP) intends to sell the 20% share of Vienna International Airport. The city of Vienna is not pleased at all.

April 23, 2011

Herbst’s Withdrawal is Imminent

The CEO of Vienna International Airport, Christoph Herbst, should be about to resign. He is considered to be seeking a position at the Constitutional Court.

April 22, 2011

Molterer Nominated as Vice-President of the EIB

Former Vice-Chancellor and Finance Minister Wilhelm Molterer is nominanted as candidate for Vice-President of the European Investment Bank (EIB).

February 23, 2011

SPÖ against expanding the ÖIAG

The expansion urged by Industrial Association and the ÖVP meets the resistance of the Social Democratic coalition partner.

February 15, 2011

WIFO Promotes Expansion of the State Holding

The Director of the Austrian Institute of Economic Research wants to concentrate all Austrian state-owned enterprises in the ÖIAG.

February 5, 2011

ÖIAG: Markus Beyrer is the New Chairman

The so far Secretary General of the Industriellenvereinigung (Industrial Federation), Markus Beyrer, is Peter Michaelis’s successor on the board of the ÖIAG.

February 2, 2011

Demand for Elimination of the ÖIAG

IAs part of the succession process for the CEO position at the Austrian industrial holding (ÖIAG) political representatives are increasingly imposing conditions.

January 27, 2011

ÖIAG: Industrialist Beyrer is Favorite

In the discussion about the succession for the state holding company OIAG, the Secretary General of the IV (Federation of Austrian Industries), Markus Beyrer, is a favorite.

January 25, 2011

Austria's Minister of Social Affairs Wants to Extend the Years of Employment

Rudolf Hundstorfer wants to see older workers work longer, and is trying to get the consensus of businesses.

December 31, 2010

State Secretary for Finance: Euro-bonds as a Medium-term Strategy

The Austrian State Secretary for Finance, Andreas Schieder, does not discard Euro-bonds, against the majority view of German and Austrian politicians.

December 31, 2010

ÖIAG: Sale of the Post and Telekom is possible

Peter Michaelis, the departing CEO of the Austrian state holding company (ÖIAG) is considering the sale of interest holdings.

December 20, 2010

Skylink: Resignation of Executive Board or Supervisory Board

The Vienna Airport Skylink debacle is becoming a political issue. Staffing decisions have been made.

December 14, 2010

Wikileaks: Criticism of Austrian Politicians by the U.S.

The critical view on Austria's leading politicians on part of the U.S. is written down in the recent revelations of the Wikileaks platform.

December 5, 2010

New Regulations for Bank Managers' Bonuses

Additional compensations for managers in the banking sector are subject to new regulations approved by the Austrian National Council. Payments will be deferred in time.

December 5, 2010

Michaelis Leaves Austria's State Holding Company

The contract of Peter Michaelis, Chairman of The State Holding Company OIAG, expires in June 2011. There is disagreement over the succession in the government.

December 3, 2010

Vienna International Airport: Decisions on Personnel are Postponed

The previously rumored change of leadership at Vienna International Airport is not taking place yet. There is time until mid-December for the board, highly criticized because of Skylink.

November 26, 2010

It is Official: Coalition Between SPÖ and Greens in Vienna

Vassilakou becomes Deputy Mayor under Häupl. The program aims to have a recognizable green handwriting.

November 12, 2010

Austerity Package: Resistance from the Federal Provinces

While cries for savings are getting louder in the provinces, declarations of both consensus and objections come from the provincial capital cities

November 8, 2010

Vienna: Negotiations Between the SPÖ and the Greens Almost Concluded

The last major points are budget issues. Both sides are however optimistic of reaching an agreement.

November 5, 2010

OMV: Republic of Austria Will Hold On to Its Stake

An informal consultation is said to have been held between the governing parties to keep the government stake in OMV, should there be a capital increase.

October 27, 2010