Bank Austria (BA) CEO Willibald Cernko has warned from letting Greece go bust. Cernko said at the weekend Europe “should consider very well whether it would be a good idea to dismiss a country from the Eurozone.” The banker claimed such a move “would put the European project into question.” The BA chief warned that […]
Tag: country
Milanovic makes job pledge
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Croatian Prime Minister Zoran Milanovic has identified creating jobs as his chief priority. The head of the Social Democratic Party of Croatia (SDP), who became prime minister of the former Yugoslavian country after the general election last December, said in Vienna yesterday (Thurs) his main goal was to consolidate the Croatian budget and improve its […]
An economist has rubbished claims that only the financial sector is to blame for the crisis. Stefan Bruckbauer, the chief economist of Bank Austria (BA), said on Saturday: “I don’t claim that banks are totally innocent since they financed the debtors.” Bruckbauer told the Kurier the Republic of Austria had to invest 1.7 billion Euros […]
Johannes Hahn, the European commissioner for regional policy, has made clear that Greece will not receive any additional financial support by his department before the year after next. The former Austrian People’s Party (ÖVP) science minister told the Salzburger Nachrichten on Saturday that it had been previously agreed how much money the European Union’s (EU) […]
The Association of Austrian Taxpayers has spoken out against the creation of a list of tax dodgers. The organisation said yesterday (Weds) that a decision like that would mean a “step backwards” in modern civil society. It stressed that not everyone accused of tax evasion was a criminal. “Many people whose names may be found […]
Fitch confirms Austrian AAA
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Another leading credit rating agency has confirmed Austria’s excellent financial condition. US American rating agency Fitch said yesterday (Tues) it decided to keep Austria’s rating at AAA, the best possible estimation agencies issue on the financial trustworthiness and stability of a country or a company. Some experts warned that Fitch might consider downgrading Austria due […]
Hotels cut down investments
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Austrian hotels are reducing their investments, according to a bank focusing on financing tourism projects. The Austrian Hotels and Tourism Bank (ÖHT) said yesterday (Tues) it provided hotels across the country with loans worth 880 million Euros in 2011. The tourism industry businesses financed 1,800 renovation, restoration and expansion projects with the funds, according to […]
Warm weather lowers jobless rate
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The latest labour statistic has dished up good and bad news for Austria’s lawmakers and employees. Around 360,500 people had no job last month, according to Statistik Austria. The agency said yesterday (Mon) this was a decline of 0.8 per cent compared to December 2010. It pointed out that the number of people sitting re-education […]
Rating agencies ‘expect clear signal’
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Bernhard Felderer has explained why the Austrian government is well advised to fight for a two-third majority approval of its debt limit project. Social Democrats (SPÖ) and People’s Party (ÖVP) are currently trying to convince the Greens and the rightist Alliance for the Future of Austria (BZÖ) that its stricter budget path until 2020 was […]
People’s Party (ÖVP) Vice Chancellor Michael Spindelegger has warned it would be a “disaster” if Austria lost its AAA credit rating. Austria’s soundness is currently given the best-possible rating by the world’s leading credit rating agencies, Moody’s, Standard & Poors (S&P) and Fitch. Economist Bernhard Felderer recently warned that they could downgrade their outlook for […]