The money the state poured into nationalised banks is lost, according to an economic expert. Franz Hahn of the Institute for Economic Research (WIFO) said today (Weds) that the Republic of Austria might not see the billions of Euros it had poured into Hypo Group Alpe Adria (HGAA), Kommunalkredit and Volksbank AG (ÖVAG) ever again. […]
The People’s Party (ÖVP) has denied that it tries to enforce an early end to the parliamentary anti-corruption commission. The panel headed by Greens parliamentary member (MP) Gabriela Moser is investigating the various alleged corrupt connections between politicians and businesspeople since January. It suffered a setback when the ÖVP and its government coalition partner, the […]
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 […]
Volksbank AG (ÖVAG) suffered losses of more than 1.3 billion Euros last year. Bank officials announced yesterday (Thurs) that the Viennese finance institute sustained a loss of 1.34 billion Euros in 2011. The news means that the Republic of Austria is robbed of its chances to demand the one billion Euros of participation capital back […]
Rudolf Hundstorfer has said that “clarity, transparency and comprehensibility” were needed to improve the reputation of Austrian politics. The Social Democratic (SPÖ) labour minister was asked to organise the activities of a special group of government members. The panel, which consists of SPÖ whip Josef Cap and People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner among […]
The new governor of Vorarlberg has criticised the government for its “politics of announcements”. Markus Wallner of the People’s Party (ÖVP) – who succeeded Herbert Sausgruber as head of the western province in December 2011 – said yesterday (Thurs) the federal government coalition of Social Democrats (SPÖ) and ÖVP must reset its course. He appealed […]
Bank Austria (BA) chief Willibald Cernko has admitted being “proud” of how his finance institute performed in the past years. The banker pointed out that BA was the only leading Austrian bank which did not sustain annual losses since the collapse of Lehman Brothers in 2008. The bankruptcy of the US investment bank kicked off […]
The opposition has turned its guns on the government over the latest savings package. The Social Democrats (SPÖ) and the conservative People’s Party (ÖVP) hope to save around 28 billion Euros in the coming years thanks to the budget consolidation pact. The package was passed in parliament yesterday (Weds). The opposition did not approve the […]
The government wants to keep campaigning for a tax on financial transactions despite the German government’s policy shift. German Christian Democratic Union (CDU) Finance Minister Wolfgang Schäuble said earlier this week the attempts to implement such a levy in the European Union (EU) should be abandoned. Schäuble said there was a lack of support in […]
Viennese Social Democratic (SPÖ) Health Councillor Sonja Wehsely has a fifty-fifty divide of the General Hospital’s (AKH) expenditures. Around two thirds of the costs of Europe’s largest clinic are currently covered by the city hall. The Republic of Austria comes up for the remaining part of the hospital’s budget. Wehsely said the state must compensate […]