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WIFO: South Europe Needs New Industrial Policy
The Austrian Institute of Economic Research (WIFO) stresses that Spain, Greece and Portugal need new growth measures instead of austerity cuts.
December 15, 2012
“Eurozone On Stable Ground”
Austria´s Minister of Finance Maria Fekter is optimistic. Spain, Portugal and Ireland are making substantial progress. However, the crisis is not over yet, she notes.
December 1, 2012
Alpine: Funding is Secured
The financially stricken construction company has reached an agreement with its creditors.
November 10, 2012
IHS: Collapse of Eurozone would Cost 157,000 Jobs
The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.
November 5, 2012
FCC Considers Downsizing Alpine
The financially stricken Austrian construction company may sell several business units. A sale of Alpine seems unlikely.
October 20, 2012
Alpine: CEO Dotter Resigns
The management of the financially stricken Austrian construction group reshuffles. The holding company FCC decided to change the management.
October 17, 2012 · Updated: October 17, 2012; 19:15
Alpine Confirms „Substantial Losses“
The Austrian construction company is in severe difficulties. The management demonstrates optimism.
October 15, 2012
Spain: Kapsch Achieves Major Order
Austrian Kapsch CarrierCom successfully completes another project in Spain: Kapsch equipped 80 kilometers of the short-line network of the state railway operator Adif in Bilbao.
October 15, 2012
Alpine Needs Help from Banks
The Austrian construction company faces liquidity constraints. Talks with banks were started already.
October 11, 2012
Erste Group´s Core Shareholder Sells 14 million Shares+
Erste Stiftung, the core shareholder of Austrian Erste Group, remains the biggest shareholder, though.
October 2, 2012
Public Debt: New EU Members Are More Flexible
Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012
Fekter: “Spanish Banks Need € 60bn”
According to Austria´s Minister of Finance Maria Fekter, the European Union focuses on Spain. A Greek exit would be no issue anymore.
September 18, 2012
Euro-Crisis Enters Austria
In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.
September 10, 2012
Fekter: „Spain is No Bail-Out Candidate“
Austria´s Finance Minister Fekter says that only Spain´s banks may need help from the EU.
August 31, 2012
Austrian Guarantees Total € 80bn
In the worst case, Austria´s public debt quota may increase up to 100%, the Austrian opposition warns.
August 27, 2012
Declining Real Income: UBS Defends Report
Paul Donovan, author of the controversial study, was criticized by Austria´s Central Bank and Bank Austria. Donovan underlines that his study is correct.
August 24, 2012
Grexit: Aiginger Warns of Shock in the Balkan Region
Wifo´s (Austrian Institute of Economic Research) director Karl Aiginger thinks that a Greek exit would not only cause big problems for Greece itself, but for the whole Balkan region.
August 21, 2012
Austrian Real Income Fell Dramatically
Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.
August 20, 2012
Kommunalkredit´s KA Finanz Needs New Guarantees
Because of its exposure in Greece, the nationalized Austrian lender needs further guarantees from the Austrian state.
August 6, 2012
Government Puts Kommunalkredit for Sale
The nationalized Austrian lender Kommunalkredit should be sold until 2013. Offers must be to submit to Morgan Stanley until August 16.
July 26, 2012
Nowotny Wants Bank License for ESM
The governor of OeNB (Austrian Central Bank) Ewald Nowotny told the news agency Bloomberg that there would be some good reasons for this solution.
July 26, 2012
Insolvencies in CESEE on the Rise
In 2011, the number of business insolvencies rose by 25% in the CESEE region. Hungary ranks first.
July 25, 2012
Aiginger: „Feeding Banks Makes No Sense“
The director of WIFO (Austrian Institute of Economic Research) thinks that Spanish banks must be able to become insolvent.
July 24, 2012
Fekter: Greek Exit is „No Issue“
Austria´s Finance Minister Maria Fekter thinks that a Greek exit is no option for the time being. „We wait for the report of the Troika.“
July 24, 2012
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 its "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
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