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Spain

Alpine Can Take A Breather

Alpine’s liabilities amount to € 450m. Spanish parent company FCC is supposed to provide a capital injection of € 150m.

June 13, 2013

Dispute About Tender for Orient Express

The Orient Express once led through Romania. These days, this section is cause for legal disputes in connection with the tender in the amount of € 330m.

June 13, 2013

Alpine’s Fate Hanging By A Thread

The fate of Austrian construction company Alpine is hanging by a thread. If negotiations fail Alpine has to face its ruin.

June 13, 2013

Austria: Alpine to Require More Funding

Selling of affiliates will be postponed.

June 7, 2013

FCC Wants Guggenheim Partners As Financial Ally

With debts having amounted to more than € 8bn, Spanish parent company of Alpine is now looking for potential financial partners.

May 24, 2013

MotoGP™ and bwin Continue Partnership Until 2015

Commercial rights holder of the MotoGP™ World Championship, Dorna Sports, and bwin, Europe’s largest sports book, announce a two-year extension of their longstanding partnership which began in 2004.

May 22, 2013

Alpine Denies Bankruptcy Rumors

The Austrian construction company is to sell its affiliates. However, the expected sale earnings are disproportionate, according to experts. Spanish parent company FCC is said of not being able to raise any further aid money.

May 17, 2013

Alpine: Dispute in Poland About to Escalate

A dispute about the construction of a bridge has intensified. The construction company Alpine has withdrawn from the contract for the building of a highway segment in Poland.

May 15, 2013

Slovenia Likely To Require More State Funds Than Expected

According to Morgan Stanley, the Slovenian national treasury will need a further amount of € 11bn until 2016. Slovenian Finance Minister Cufer is expected to present the new program in Brussels today.

May 13, 2013

FCC in the Reds Again

High Losses in first quarter for Alpine’s parent company FCC.

May 7, 2013

CEO of Alpine: „Hubris Led to Losses“

Schiefer, new CEO of Alpine, explained in an interview why Alpine made losses in 2012.

April 25, 2013

Slovenia to Emerge From Quagmire By Itself?

A recent report by the OECD paints a dim picture of the country’s economic future.

April 17, 2013

Bad Outlook for Slovenia’s Economy

Slovenia receives bad marks in a report by the EU Commission. Together with Spain, Slovenia’s economy is endagered to collapse in case measures will not be made in the next few weeks.

April 11, 2013

Household Assets in Austria Lower Than in Spain

The proportion of owned homes in Austria and Germany is below 50 % and one of the reasons why household assets are on the lower end of the scale.

April 10, 2013

Austria: Tax Burden Lessens With Higher Income

According to an OECD study only three industrialized nations (Austria, Germany and Spain) show a degressive tax system.

March 26, 2013

Austria: Alpine’s Future Sealed

The restructuring contract has been signed by banks and insurance companies. Shareholders are not affected by a haircut.

March 26, 2013

Austrians Poorer Than Italians or Spaniards?

According to a study carried out by the German Central Bank (Bundesbank) assets of private households in Austria is less than in Italy or Spain.

March 22, 2013

FCC to Cut Down On Manpower

Alpine’s parent company, Spanish construction enterprise FCC is going to cut back on 1,000 jobs. Furthermore, company shares that are not part of the core business in the amount of € 2.2bn are supposed to be sold.

March 20, 2013

Austria: Alpine Turns Out a Big Burden For FCC

The construction company has avoided bankrupcy and is save – for the time being.

March 5, 2013

Austrian Construction Group Alpine Rescued

For the time being, Alpine´s bankruptcy could be prevented. The creditors agreed on a partial waiver.

March 4, 2013

Alpine: Austrian Ministry of Finance Rejects Waiver

Although the banks reached an agreement, the restructuring of the Austrian construction group may collapse.

March 1, 2013

Alpine: Future Still Highly Uncertain

Today, Alpine´s creditors decide whether the financially stricken construction company will be restructured.

February 28, 2013

Austria: Final Talks about the Future of Alpine

Everything revolves around the debt cut and the Future of Construction Company.

February 25, 2013

Austrian Exports Reach new All-Time High

The Austrian Chamber of Commerce (WKO) today presented the foreign trade results of 2012. This year, WKO´s President Christoph Leitl expects s moderate increase in exports.

February 21, 2013

Alpine: Creditors Face Haircut

The financially stricken Austrian construction company wants its creditors to contribute to the restructuring.

February 2, 2013

Alpine to Cut a Third of its Workforce

The Austrian financially stricken construction company has to implement radical restructuring measures.

December 21, 2012

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
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