Vienna Uni: Budget deficit shocker

Categories
Education

The University of Vienna finished the last academic year with an unexpected deficit of 15 million Euros. Rector Heinz Engl said it had budgeted for a loss of 8 million but that the Constitutional Court’s decision to suspend student fees had blown the budget to pieces. The university had a positive balance in 2010 and […]

ÖVP NÖ wants to slow wind farm madness

Categories
Politics

The ÖVP wants to reduce wind farms in order not to spoil the image of the landscape. The government of Lower Austria decided to develop a new Planning Law and to keep the budget low. 460 wind farms will be put up in Lower Austria until the end of 2013. They deliver 14 percent of […]

Greece can survive, says Schieder

Categories
Politics

Social Democratic (SPÖ) Finance Secretary Andreas Schieder has claimed that Greece has the chance to rebuild its economy. Speaking to magazine profil, Schieder warned from speculating about the costs of a Greek Eurozone exit. He said it attempt of trying to evaluate the costs of such a scenario were “not serious”. The Social Democrat said […]

Finance minister determined about sanctions

Categories
Politics

Federal and provincial financial issues decision-makers have postponed their negotiations about the budget of the coming years. People’s Party (ÖVP) Finance Minister Maria Fekter said talks with the provincial governments’ finance councillors would continue next week. Fekter angered the politically muscular provincial parliaments by revealing plans to sanction provinces which breached the stricter new budget […]

Austria updates EC about financial strategy

Categories
Politics

The Austrian government has informed the European Commission (EC) and Eurozone financial issues watchdogs about its budget path. Social Democrats (SPÖ) and People’s Party (ÖVP) filed a document to the political institutions’ headquarters in Brussels, Belgium, and Strasbourg, France, today (Weds). The paper features all detail information about how the coalition intends to erase the […]

Fekter faces the axe, papers claim

Categories
Politics

Rumours that People’s Party (ÖVP) Finance Minister Maria Fekter will soon have to go are increasing following the most recent budget dispute. The finance minister was seen as a contender for ÖVP leadership following the resignation of Josef Pröll as chairman, vice chancellor, and finance minister last year. Economy Minister Reinhold Mitterlehner was given good […]

Schieder relentless about tax on financial transactions

Categories
Politics

A cross-country tax on financial transactions is anything but dead, Social Democratic (SPÖ) Finance Secretary Andreas Schieder has claimed. Schieder said today (Weds) that the Austrian government coalition of his faction and the conservative People’s Party (ÖVP) would keep up the pressure for the introduction of such a levy. He told the Kurier that the […]

Fekter under fire for fiscal warning

Categories
Politics

The Social Democrats (SPÖ) and regional power brokers have attacked Maria Fekter. The People’s Party (ÖVP) finance minister announced yesterday (Mon) she wanted to sanction provincial governments which breached the harsh new budget rules. Fekter said the agreement between the federal government and the provinces should not expire in 2017. The SPÖ-ÖVP coalition wants to […]

EU rules prevent tax on financial transactions, says Karas

Categories
Politics

Othmar Karas has claimed that there would already be a tax on financial transactions if the European Parliament (EP) had the final say. Karas – who heads the EP delegation of the Austrian People’s Party (ÖVP) – said today (Weds) current European Union (EU) regulations kept the union from acting efficiently. He told the Kurier […]

ÖVAG rescue followed by Kommunalkredit cash concerns

Categories
Finance

A finance institute the state rescued from ruin in 2008 is in need of more money, according to the finance minister. People’s Party (ÖVP) Finance Minister Maria Fekter admitted yesterday (Tues) that Kommunalkredit – which was nationalised shortly after the collapse of US investment bank Lehman Brothers caused a global crisis – must be funded […]