Austrian People’s Party (ÖVP) Finance Minister Maria Fekter has launched an attack on the new French president. The former interior minister branded Francois Hollande’s targets as “nonsense”. Speaking to the Oberösterreichische Nachrichten newspaper, Fekter said ambitions to add aspects guaranteeing economic growth in struggling countries to the planned European Union (EU) fiscal pact were outdated. […]
Tag: Eurozone
Austrian Vice Chancellor Michael Spindelegger has promised that the European Union (EU) will not let Greece down. The head of the People’s Party (ÖVP) said there was no alternative to helping Greece in its current situation. The member state of the EU and the Eurozone is in a serious political crisis after the leaders of […]
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 […]
Weak growth ahead, WIFO warns
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It will take another two years until the Austrian economy grows by two per cent, a Viennese institute has warned. The Institute for Economic Research’s (WIFO) five-year forecast – which was presented yesterday (Mon) – shows that the Austrian economy could grow by two per cent from 2013 to 2014. WIFO research reveals that the […]
Austria benefited the most by the introduction of the Euro, according to an investigation. The German department of internationally operating consulting group McKinsey examined the economic performance of the 17 members of the Eurozone to determine which nation prospered the most. Twelve European Union (EU) states including Austria are the Eurozone’s founding members as they […]
Entrepreneurs gear up for trouble
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Young businesspeople expect a worsening of the economic climate – but they are also convinced of being able to weather the turmoil. The Association of Young Entrepreneurs said yesterday (Tues) it interviewed 2,200 self-employed Austrians in the past weeks. Around seven in 10 of them expect a new crisis but only two per cent fear […]
Austrian jobless rate lowest in EU
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Austria remains Europe’s model pupil as far as unemployment rates are regarded. The country, which joined the European Union (EU) in 1995, had a jobless rate of 4.1 per cent in October, according to research by Eurostat. The agency carries out research for the European Commission (EC). Eurostat said today (Weds) Luxembourg registered the second-lowest […]
Kubilius backs EU’s disputed duo
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Lithuanian Prime Minister Andrius Kubilius has claimed the leadership position of Germany and France “is not a bad development.” Kubilius told Austrian daily Die Presse today (Mon): “I don’t think it is a bad development that France and Germany take leading roles trying to solve this crisis. Solving crises needs new ideas and leadership. (…) […]
Alfred Gusenbauer has revealed details of his engagement at one of the best universities in the world. The former Social Democratic (SPÖ) chancellor told newspaper Die Presse yesterday (Mon) he was about to become a permanent lecturer at Harvard University. The institute – which is located in Cambridge, Massachusetts, in the United States – is […]
Fitch sees Greek ruin risk
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An analyst has warned of a “high” risk of a second Greek bankruptcy. The southern European country, which is part of the Eurozone and the European Union (EU) asked the EU, the International Monetary Fund (IMF) and the European Central Bank (ECB) for financial support for the first time last year to avoid state bankruptcy. […]