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Spain

New Supervisory Board at Alpine

Baldomero Falcones assumes the function of Chairman of the Supervisory Board at the Austrian construction company Alpine.

July 13, 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

Economic Report: „Reducing Dependence on Europe“

Today, the Austrian government published ist „Economic Report 2012“.

July 9, 2012

Alpine Strengthens Domestic Market Austria

The second-biggest Austrian construction group changes ist management for the biggest market. The new corporate strategy should be implemented now.

July 6, 2012

Strong Increase in Unit Labor Costs

Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.

June 29, 2012

Euro-Crisis Continues

According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.

June 29, 2012

Infineon to Invest € 250m in Austria

In 2012, Infineon Austria´s CEO Monika Kircher-Kohl wants to make investments of € 250m. The high tech company is already looking for new staff.

June 28, 2012

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

Fiscal Pact More Expansive for Austria than for Germany

According to the latest calculations, small Eurozone member states would have to pay higher transfers than Germany.

June 26, 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

Survival of the Euro Questionable

Regarding the future of the common currency, the Austrian economist Fritz Breuss is highly skeptical.

June 26, 2012

Treichl: „Europe Does Not Need the Euro“

Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.

June 25, 2012

Nowotny: „Bank Aids Rescue Economy“

The governor of the Austrian Central Bank OeNB underlines the necessity of the bail-out of Spanish banks.

June 23, 2012

New IV´s President Dissatisfied with Political System

The corruption scandals oft he past would damage Austria´s reputation as business location, Georg Kapsch thinks.

June 23, 2012

Fekter Declines Mercy for Greece

Austria´s Finance Minister Maria Fekter is poised for amending several points oft he Greek austerity program. This is no accomodation, Fekter emphasizes. In the future, the EU should be completely centralized, Fekter says.

June 21, 2012

Gloomy Growth Prospects for Austria

Bank Austria cuts its growth prospects for Austria. Instead of a GDP growth of 2.0% in 2013, the analysts now expect economic growth to reach 1.5%.

June 16, 2012

RZB Wants to Keep Austrian Deposit Protection

Raiffeisen Zentralbank´s CEO Walter Rothensteiner is skeptical of the European deposit protection proposal.

June 15, 2012

FPÖ: „Europe Has a Banking Problem“

The Austrian opposition leader Heinz-Christian Strache criticizes that European countries are downgraded due to their banks. Further bank aids would be likely.

June 13, 2012

Alpine: „Not Affected by Spanish Crisis“

The Austrian construction company, which is wholly-owned by Spanish FCC, does not worry about the tensioned situation in Spain.

June 13, 2012

Austerity: „There is No Alternative“

The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.

June 12, 2012

Spain: „ESM would be a Better Safeguard“

Austria´s Minister of Finance Maria Fekter wants Spain to call for aid via the ESM.

June 11, 2012

Austrian Banks Cut Exposure in Spain

Erste Group, Raiffeisen Bank International (RBI) and KA Finanz have the highest exposure among Austrian banks.

June 11, 2012

„We Won´t Get Any Money Back“

The former director of the Austrian Institute of Advanced Studies (IHS) does not think that Greece is able to pay back its debt. Nevertheless, Felderer still believes in the euro.

June 9, 2012

Moody´s Warns Austria of Another Downgrade

The U.S. rating agency may downgrade European AAA-countries like Austria, Germany or France soon.

June 9, 2012

Nowotny Pushes Spain to Call for Help

The governor of Austria´s Central Bank Ewald Nowotny appeals on the Spanish government to call for help and fears that the situation could become even worse for Spain otherwise.

June 9, 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

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

Treichl: „Spain Needs Help“

The CEO of theAustrian Erste Group Andreas Treichl is in doubt whether Spain may conquer the crisis without help. Regarding Greece, Europe has to pay anyway, Treichl thinks.

June 1, 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

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

Rising Revenues at Novomatic

The Austrian vending machine producer recorded a 17.2% in revenues. The gambling segment was Novomatic´s growth driver.

May 22, 2012

bwin.party: € 33m License Fees in Spain

The British-Austrian gaming company has to pay € 33m to Spain authorities.

May 21, 2012

Rothensteiner: Return to Drachma would be „Utter Chaos“

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

May 21, 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

„ECB Must Help Spain“

If real estate price in Spain fall further, Spanish banks were not able to bear that risk. A Greek exit could cost Austria up to € 10bn.

May 18, 2012

Austrian Economy Grows Slowly

After a period of stagnation, the Austrian economy showed a small growth rate of 0.2% in the first quarter of 2012.

May 15, 2012

Eder: „Not Making Mistakes of UK and USA“

The CEO of Austria´s largest steel producer voestalpine warns of a de-industrialization in Europe. Today, the UK and the USA would regret their decisions of the past.

May 14, 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

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

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

Waldner Wants Closer Cooperation with Spain

Austrian State Secretary Waldner is meeting his counterpart in the Spanish Foreign Ministry, State Secretary Gonzalo de Benito Secades, and EU State Secretary Inigo Mendez de Vigo today.

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

Alpine to Rebuild Railway in Macedonia

The € 7m contract to be fully financed by the European Bank for Reconstruction and Development.

April 11, 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

Alpine to Build Railroad Tunnel for Stuttgart 21

The Austrian construction company is involved in the German Railroad’s large-scale Stuttgart 21 project.

March 26, 2012