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Werner Faymann

Austria: Budget Gap Smaller than Expected

The budget gap will, according to the latest reports, comes at an amount between € 21bn and 25bn until the year 2018. Earlier there had been talk of a shortfall amounting up to € 30bn to € 40bn.

November 13, 2013

Austria: President Prefers Grand Coalition

President Heinz Fischer has confirmed his wish for the formation of a grand coalition as this would be “the most reasonable solution”, according to him. Other possibilities were afflicted with too many uncertainties.

October 7, 2013

Austria: Pussyfooting around Forming Government Coalition

The Austrian People’s Party is picky in regard to choosing a coalition partner. So far the ÖVP has shown no interest in starting coalition talks with former partner SPÖ. However, there are not many options left.

October 2, 2013

Austrian Elections 2013: Government Punished by the Voters

The two governing parties SPÖ and ÖVP have reached their worst results ever. Nevertheless, nothing will change in Austria.

September 29, 2013

Austrian Elections 2013: Governing Parties Lose Moderately

The Austrian political landscape has changed. New parties will enter the Austrian Parliament. Nevertheless, there is no realistic alternative to the “grand coalition” between SPÖ and ÖVP.

September 29, 2013 · Updated: September 29, 2013; 17:59

Austrian Bank Tax Paid By Bank´s Customers

The Austrian Institute of Advanced Studies (IHS) reports that it is “likely” that banks shift the burden to their customers.

September 26, 2013

Austria: SPÖ and ÖVP Hold Slight Majority of Votes

According to the latest survey, the Social Democrats (SPÖ) and the Austrian People’s Party (ÖVP) will have to face losses in the elections of the National Assembly on Sunday. However, they should be able to hold the majority.

September 24, 2013

Leitl: “Grand Coalition Did Not Fulfill Expectations“

Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), favors a change in the governing parties as the grand coalition has not realized the necessary reforms.

September 24, 2013

Faymann: Austria as Role Model for Investments and Employment Programs

The Austrian Chancellor calls for a fair distribution of wealth and lower taxes on wages.

September 20, 2013

Austria: ÖVP Rejects Tax Reforms by Social Democrats

Chancellor and Leader of the Social Democrats Werner Faymann is in favor of lower taxes on wages. His model includes reliefs of up to € 1,011 annually. However, coalition partner, the Austrian People’s Party (ÖVP) rejects the plans.

September 18, 2013

Leitl Recommends Parties Not to Raise Hopes

President of the Austrian Chamber of Commerce, Christoph Leitl considers the demand of the Social Democrats and Chancellor Werner Faymann for a tax relief as soon as 2015 utopian.

September 17, 2013

Faymann: New Government Will Be Smaller

In an interview with Austrian daily “Österreich“ (Sunday issue) Chancellor Faymann announced that the new government will be reduced by two members of parliament.

September 16, 2013

Austria: Chancellor and Deputy Chancellor Lose in Trust Index

Compared to the results of last month, both Chancellor Werner Faymann and his Deputy Michael Spindelegger have lost the voters’ trust according to the APA/OGM Trust Index that was carried out on a sample of 500 persons.

September 13, 2013

Hypo Needs € 700m in Capital Increase

The ailing banking group needs a further capital injection in order to fulfill the lawful capital adequacy requirements.

September 12, 2013

Austria: Spindelegger Confident About Becoming New Chancellor

The intense elections campaign for the Austrian People’s Party (ÖVP) has officially started on Tuesday. Deputy Chancellor and party leader Spindelegger promised more jobs and housing space.

September 11, 2013

Faymann Underlines Necessity of Property Taxes

Austrian Chancellor Werner Faymann (SPÖ) calls for new taxes. In total, property taxes should bring tax revenues of more than € 2.0bn.

September 9, 2013

Austria: Spindelegger in Favor of “Creative Model“ for Banks

Deputy Chancellor Spindelegger seems willing to lead open discussions about the extension of bank levies.

September 6, 2013

Haselsteiner as Candidate for NEOS

Austrian party NEOS has added former CEO of Strabag Hans-Peter Haselsteiner as top candidate for the parliamentary elections. Haselsteiner has so far supported the party behind the scenes.

September 5, 2013

Faymann: “Banks Should Pay for Hypo”

Austrian Chancellor Werner Faymann does not consider a new austerity package necessary despite of the threatening billions of Euros for the selling and winding-up of the ailing bank.

September 5, 2013

Hypo Group Considers IPO

The Austrian nationalized bank takes an IPO of its Eastern subsidiaries into account.

August 31, 2013

Survey: Faymann Best Chances of Becoming Chancellor

According to a survey carried out for Austrian daily “Standard”, the Social Democrats are gaining in votes while the Austrian People’s Party is slightly falling behind.

August 30, 2013

Austria: Faymann Mocks Schwarzenberg

The Austrian Chancellor reacts to Schwarzenberg’s criticism against Foreign Minister Spindelegger.

August 28, 2013

Austria: First Chancellor’s Duel

Chancellor Werner Faymann (SPÖ) and Deputy Chancellor Michael Spindelegger (ÖVP) had their first official chancellor’s duel on TV on Monday. However, people waiting for a major dispute had been disppointed.

August 27, 2013

Faymann: Joint Combat against Unemployment

During a meeting with Slovenian Prime Minister Bratusek and Croatian Prime Minister Milanovic and Austria’s second biggest city Graz, Austrian Chancellor Faymann pointed out the governments’ key tasks.

August 23, 2013

Leitl: “Austria Screwed Up”

If the US, as the perpetrator of the financial and economic crisis, shows two percent in economic growth, while Austria only 0.2 percent, then this was a “disgrace”, Leitl announced during the economic forum in Alpbach.

August 21, 2013

Austria: Kranebitter to Leave Hypo Group

After three and a half years, Gottwald Kranebitter steps back as CEO of nationalized Hypo Alpe Adria. Tax payers are left with a burden running in the billions in the years to come.

August 19, 2013

Faymann to Surpass Spindelegger at Trust Index

The APA/OGM trust indest for federal policits in Austria showed an increase of trust for Chancellor Faymann of 2 while Deputy Chancellor and Foreign Minister Spindelegger slips to minus 2.

August 16, 2013

Schieder: “Successful Employment and Regional Economic Policy Has to Be Continued“

Austrian State Secretary rejects unreliable surveys “talking down” Austrian economy.

August 14, 2013

Austria: Banks Indignant At Chancellor Faymann

Chancellor Werner Faymann has started the election campaign with an attack against the banks. However, CEO of Bank Austria Willibald Cernko points out that the banking industry secures 70,000 jobs in Austria.

August 9, 2013

Hypo Group: Reason for “Budget Lie”

The situation of ailing bank Hypo Alpe Adria may be worse than assumed. The supervisory board of the bank and the taskforce are discussing about the half-yearly report.

August 7, 2013

Bad Bank for Hypo Group?

According to market rumors, Austria´s government wants domestic banks to participate in a bad bank for the nationalized Hypo Group. Finance Minister Maria Fekter denies such reports.

August 5, 2013

Fekter: Horror Figures with Hypo’s Restructuring Plan.

The restructuring plan for Hypo Alpe Adria involves several scenarios, which Finance Minister Fekter does not want to mention. The “horror figures” tax payers are burded with are set up “in an apocalyptical way”, according to her.

July 15, 2013

Faymann: Croatians Realistic With EU Membership

Austrians have a positive attitude towards Croatia’s new membership.

July 1, 2013

Hypo Group: Government Hopes For Expansion of Deadline

The restructuring plan for Hypo Group has been handed in to Brussels. It is still unclear whether the deadline will be expanded.

July 1, 2013

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

Austria Pulling Back Peacekeepers from Syria-Israel Border

Austria announced to pull back its around 380 peacekeepers from the 1,000-strong UN force out of the Golan from the UNDOF mission after grave incidents occurred in Syria.

June 7, 2013

Austria: Liebscher as Chairman of Hypo Group’s Supervisory Board

Liebscher is to take over Ditz’ position after the meeting of bodies on June 21.

June 5, 2013

Austria: Finance Ministry Regrets Ditz’ Withdrawal

Johannes Ditz, chairman of Hypo Group’s suvervisory board, announced his withdrawal yesterday.

June 4, 2013

Hypo: Ditz to Resign

Chairman of Hypo Group’s supervising board Johannes Ditz might soon resign, according to media reports.

June 3, 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: Faymann Positive About Extension for Hypo Group

Chancellor Werner Faymann presented himself restrained yet confident about the extension granted by the Commission regarding the deadline for the winding-down of Hypo Alpe Adria Group.

May 24, 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

Austria: Hypo Group Dilemma Requires Highest Form of Diplomancy

Before the deadline of handing in the new restructuring paper, talks with the top of EU Commission are supposed to take place with Austrian politicians.

May 10, 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

Austria: Government Shows Unanimity About Banking Secret

Fekter criticized Social Democrats.

April 30, 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: Faymann Betrays Ignorance

Chancellor Faymann claims not to have known about the controversial letter which has reached the media yesterday. He fears that Austria would now become a “laughingstock”.

April 26, 2013

Austria: Four Conditions For Commission In Return for Bank Secret

In a letter to Tax Commissioner Semeta Austrian Finance Minister Fekter and Chancellor Faymann set the conditions for the agreement of a negotiation mandate with third countries about the exchange of information.

April 25, 2013

Austria About to Lose Fiscal Secret

The Austrian government declared to negotiate with the EU about the abanonment of the fiscal secret.

April 9, 2013

Commission Criticizes Austria on Keeping Bank Secret

EU Tax Commissioner Algirdas Semeta considers Austria’s position to hold on to the bank secret and unwilligness to reform as “impossible”.

April 9, 2013