The recession still has the European construction sector in its grip, a leading building company has warned.Linz-based Swietelsky, Austrias fifth-biggest construction firm, said today (Tues) that it would give a “careful” outlook due to the “insecure situation” in the Eurozone. The term describes the 16 European Union (EU) members which use the Euro as their […]
Tag: Eurozone
OECD forecasts economic recovery
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The Austrian economy will develop better than the Eurozone average, the Organisation for Economic Co-operation and Development (OECD) has predicted.The international organisation said today (Fri) that the Austrian gross domestic product (GDP) will grow by two per cent annually between this year and 2012.The OECD added it expected the Eurozones economy to grow by just […]
Austrian banks ‘will not flee Greece’
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The chiefs of Austrias 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 Austrias other four major banks and Peoples Party (ÖVP) Finance Minister: “We will not speculate against Greece, and we wont reduce our investments in the country.”Austrian banks […]
Austrian Peoples 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 Austrias main banks about whether they could imagine getting involved in the international subsidisation plan for the financially struggling European Union […]