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Austrian Coalition to Take Stock of Legislative Period
In a joint interview with several leading Austrian newspapers, Austrian Chancellor Werner Faymann and Deputy Chancellor and Foreign Minister Michael Spindelegger take stock of the legislative period so far.
June 28, 2013
Leitl: „Austrian Enterprises Need Further Growth Impulses“
The Austrian Chamber of Commerce (WKO) commits to budget consolidation but growth is the basis for a balanced state budget.
June 27, 2013
Hungary: New Tax for Banks
According to a legislative proposal by Economy Minister Varga, banks would have to face a further burden of around € 250m.
June 27, 2013
Hungary: Taxes to Be Raised
Shortly before the parliamentary summer recess taxes were raised by the government of Viktor Orban.
June 18, 2013
Croatia’s EU Accession as a Chance For Austria
Soon, there are more than 1,000 Austrian businesses operating in Croatia and the volume of trade is supposed to increase.
June 18, 2013
EU Abandons Quarterly Reports
Listed enterprises in the European Union do not have to present quarterly reports from 2015 on.
June 12, 2013
Ukraine Leaps to Business Deregulation
One of the reform priorities for Ukraine in 2012 has become the deregulation of business activity.
June 11, 2013
Croatia to Expect Disciplinary Procedure by EU
The Ex-Yugoslavian country has to face harder scrutinizing than its CESEE peers which joined the EU in the last decade.
June 5, 2013
Slovenia: Bailout As An Option
Prime Minister Bratusek announced her consent to introduce fiscal rule in 2015.
June 4, 2013
Romania: Erste Forecasts Economic Growth at 1.8 Percent
Erste keeps Romania's economic growth forecast for 2013 unchanged at 1.8 %.
June 3, 2013
Slovenia: NKBM Still In the Reds
Particularly high risk provision caused the bank a net loss of € 8.5m. Even for the whole of 2013, losses are expected.
May 31, 2013
Austria: Fekter Signed OECD’s Multilateral Assistence Agreement in Tax Matters
Fekter described the signing as a “further important step in the fight against tax evasion and tax fraud”.
May 29, 2013
Commission to Publish Reform Recommendations
24 countries, among them Austria, will receive recommendations for reforms by the EU Commission.
May 28, 2013
Hungary: EDP to Be Dropped.
Hungary can count on the termination of the Excessive Deficit Procedure (EDP) by the European Union.
May 27, 2013
Austria: Faymann Proposes Extension of Bank Levy
Not only the federation and taxpayers should avow for the losses at Hypo Group. This week the restructuring plan has to be handed to the EU Commission.
May 27, 2013
Austria: New CEO for RBI to Be Announced "In The Coming Days"
On Monday, the supvising boad will negotiate about the filling of the post for the CEO of listed Raiffeisen Bank International (RBI).
May 27, 2013
RBI: Meeting About Stepic’s Successor on Monday
Today, Herbert Stepic announced his resignation as CEO of Raiffeisen Bank International (RBI) due to personal reasons.
May 24, 2013
Slovenia: Fiscal Rule to Be Introduced in 2015
Prime Minister Bratusek announced her consent to introduce fiscal rule in 2015.
May 23, 2013
Poland: Hold on Tax to Attract Investors
Hydrocarbons tax on hold till 2020 to enhance investments in shale gas.
May 23, 2013
Austrian Top Banker to Appear in „Offshore-Leaks“
For the first time, a European top banker appears in the “Offshore-Leaks” database. CEO of Raiffeisen Bank International (RBI) Herbert Stepic is coming under massive pressure.
May 23, 2013
Austria: Special Commission to Trace Tax Evaders
Finance Minister Maria Fekter announced the establishing of a special commission which is supposed to use data distributed by the US tax authority.
May 23, 2013
Leitl: „EU Has To Deliver Clear Confession to Business Location Europe”
According to Leitl, the EU Summit has to deliver a “clear confession to business and industrial location” Europe.
May 22, 2013
Slovenia Taking Drastic Measures
NLB plans to cut workforce by 20 percent. The Slovenian government signed an agreement with unions to cut wage costs and is discussing to raise VAT. The country is hoping for € 1bn for the selling of state-owned enterprises.
May 22, 2013
Orban’s „Derailment“ Causes Indignation in Germany
Hungary’s head of government Viktor Orban seems to love the confrontation. However, with the accusation of Germany using Nazi-methods he overstepped the mark in terms of tact.
May 21, 2013
Austrian Government Desperate to Sell Hypo Group
Without an agreement for a new plan and without more time for the selling of the Eastern affiliates, the crisis-struck banking institute Hypo Alpe Adria Group will not be able to make up the balances anymore, according to Austrian newspaper Presse.
May 16, 2013
Slovenia Pressed to Take “Swift and Decisive” Actions
On Monday Eurozone Finance Ministers warned Slovenia to take “swift and decisive” action to address its economic imbalances.
May 14, 2013
Indian Srei Group to Acquire Austrian Hypo?
Austria is looking for a buyer for the domestic Hypo affiliates. Indian Srei Group seems to have good chances.
May 13, 2013
EU Commission Expects Austria to Agree To EUSD
Head of Eurogroup Jeroen Dijsselbloem expects a constructive approach of Austria in the debate about the automatice exchange of data of tax foreigners in Europe.
May 13, 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
Austrian Bank Secret: Faymann Vs. Fekter
Austria‘s agreement to an automatic exchange of data has become a personal match between Chancellor Faymann and Finance Minister Fekter.
May 13, 2013
Slovenia to Raise VAT and Sell 15 State Enterpises
Slovenia has announced to put 15 state companies up for sale and raise VAT in order to acquire revenues and avoid international bailout.
May 10, 2013
Maria Fekter: Hot-Tempered Lady At the Fireplace
Raiffeisen Centralbank (RZB) organized a „fireplace chat“ with Finance Minister Maria Fekter which took place on May 7 in Vienna.
May 8, 2013
Semeta Confident Austria and Luxembourg Stop Blocking
EU Tax Commissioner Algirdas Semeta does not expect any blocking by Austria for the loosening of the bank secret for foreigners and the transition to the automatic exchange of information.
May 6, 2013
Slovenia: No Agreement on Fiscal Rule
Coalition and opposition remain divided over the question on when to implement the new fiscal law.
May 6, 2013
Hypo Group to Get a Bad Bank?
Chancellor Faymann confirmed negotiations about the establishing of a bad bank for non-performing loans.
April 30, 2013
„Slovenia Can Manage On Its Own“
In an interview with Austrian newspaper Kurier, President of the Slovenian Bankers Association France Arhar stresses that Slovenia is not the new Cyprus.
April 29, 2013
Eurozone: Household Savings Rate Decreased Significantly
Household saving rate down to 12.2% in the euro area and to 10.7% in the EU27. Household real income per capita fell by 1.1% in the euro area.
April 29, 2013
Tax Burden: Austria Above EU Average
The overall tax-to-GDP ratio in the EU27 up to 38.8% of GDP in 2011. Labour taxes remain major source of tax revenue.
April 29, 2013
Austria: Solution for Bank Secret Issue Until May 22
After the recent turbulances within the Austrian government coalition, Chancellor Werner Faymann hopes to find an agreement with the EU concerning the bank secret until May 22.
April 29, 2013
Austria: Green’s Motion of Censure Denied
The Green Party’s motion of censure against Finance Minister Fekter was denied by almost all parties in the National Assembly.
April 25, 2013
Austrian Greens Put Forward Motion of Censure Against Fekter
The Austrian Greens intend to file a motion of censure against Finance Minister Maria Fekter. Party Leader Eva Glawischnig announced a “match of Greens against Fekter”.
April 24, 2013
EU Commission Waiting For Austria’s Decision
The EU Commission expects a uniform stance in regard to Austria’s bank secret and the transition to automatic exchange of information.
April 23, 2013
Austria: National Assembly to Vote on Bail-Out Package for Cyprus
In order for Cyprus‘ bail-out package to become effective, many national parliaments have to vote in favor of it. Austrian’s opposition is against it.
April 22, 2013
Cyprus: Increase of Taxes Resolved
The Cyprian parliament has voted for an increase of taxes. Among other things, business taxes will increase from 10 % to 12.5 %.
April 19, 2013
Spar: Expanding in Hungary
Spar Austria Group intends to expand the meat plant near Budapest and the entire branch network in Hungary.
April 18, 2013
Forbes: “Austere Baltic States Outgrow Their European Neighbors”
Forbes magazine has dedicated a comprehensive article about how the Baltic countries manage to conquer the financial crisis.
April 17, 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
Austria: Number of Small-Business Owners Increased Marginally
In 2012, there were around 251,000 one-person-businesses in Austria which is 11,000 more than in 2011.
April 16, 2013
Austria: Hypo Group to Come Under Fire
Pressure from Brussel grows for a fast selling of Hypo Group.
April 16, 2013
Bulgaria: New Coca-Cola Headquarters in Sofia
The world’s largest soft drink producer Coca-Cola is to relocate one of its competence centers from Belgium to Bulgaria.
April 15, 2013
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