Grasser says Greece rescue was ‘worst decision’

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Politics

Former Freedom Party (FPÖ) Finance Minister Karl-Heinz Grasser has branded the rescue plan for ailing Greece the “biggest mistake of the European Monetary Union”.Grasser said in a newspaper interview today (Tues) he would have forced the economically struggling country to leave the Eurozone. This term describes the 16 European Union (EU) member states which have […]

Greens want creditors to contribute to EU stability package

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Politics

Green parliamentary whip Werner Kogler called today (Weds) for creditors to make a contribution to the financing of the EU stability package for Euro-zone countries.He said they needed to do that before they dumped bonds issued by countries high in debt on the European Central Bank (ECB), thereby transferring their financial risk to EU tax-payers.Banks […]

Spindelegger deplores ‘EU enlargement fatigue’

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Politics

Austrian People’s Party (ÖVP) Foreign Minister Michael Spindelegger has called for an end to “EU enlargement fatigue”.”The economic crisis should not be an excuse for enlargement fatigue,” he said today (Weds), adding that closer relations between states in the western Balkans and the European Union were in “Austria’s own interest.”He called on the European Union […]

Chancellor wants ‘clear signal’ from EU summit

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Politics

Social Democratic (SPÖ) Chancellor Werner Faymann has said he expects this evening’s (Fri) summit of Euro zone heads of state and government “to send a clear signal to the markets and to people in Europe.”Faymann’s spokesman Leo Szemeliker added today that the chancellor wanted the summit to agree on a rescue package for bankrupt Greece […]

Austrian exports rose in February

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Business

Austrian exports rose in February by 5.5 per cent year on year to 7.82 million Euros, according to Statistik Austria.The agency added today (Fri) that imports had grown by 3.4 per cent year on year to 8.08 billion Euros in February. Both exports and imports had declined year on year in January.For the two months […]

EC says Austrian economy will rise above EU average

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Business

The European Commission (EC) said Austria’s economy is to grow stronger than it had expected half a year ago.EC officials forecasted a 1.3 per cent year on year rise today (Weds) after giving a 1.1 per cent growth prediction last December.The new prediction matches the forecasts of Austria’s two leading think tanks.The Institute for Higher […]

Austrian banks ‘will not flee Greece’

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Finance

The chiefs of Austria’s biggest banks ensured they would not reduce investments in financially struggling Greece.Raiffeisenzentralbank (RZB) boss Walter Rothensteiner said after a meeting with the heads of Austria’s other four major banks and People’s Party (ÖVP) Finance Minister: “We will not speculate against Greece, and we won’t reduce our investments in the country.”Austrian banks […]

Pröll wants banks on board in helping Greece

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Finance

Austrian People’s Party (ÖVP) Finance Minister Josef Pröll has said he is planning to get banks on board to help financially struggling Greece.Pröll said yesterday evening (Sun) he would speak with the heads of Austria’s main banks about whether they could imagine getting involved in the international subsidisation plan for the financially struggling European Union […]

Anger as Iranian Minister ignores Holocaust query

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Politics

Iranian Foreign Affairs Minister Manouchehr Mottaki failed to speak out about the Holocaust in Vienna yesterday (Sun).Mottaki met with Austrian People’s Party (ÖVP) Foreign Minister Michael Spindelegger for talks in which Austria warned the Iranian regime of possible sanctions by the United Nations (UN) over the country’s controversial uranium enrichment programme.Asked by an Israeli journalist […]

Austria misses EU research investment target

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Politics

Austria failed to reach the European Union’s (EU) research investments benchmark of three per cent, it has been exposed.Federal statistics agency Statistik Austria said today (Thurs) it expected the government to spend 7.805 billion Euros on research and development this year. This figure would make only 2.76 per cent of the country’s gross domestic product […]