People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has revealed that Austria would acquire banking stocks to save the finance institutes from ruin in the worsening economic crisis. Mitterlehner told national broadcaster ORF yesterday (Sun) that the Republic of Austria was ready to buy bank shares in a worst case scenario. Assumption of liabilities and paying […]
Tag: Institutes
The international operations of the only Austrian bank which failed the most recent stress test on financial institutes in Europe have been taken over by Russia’s biggest bank. The contract between Volksbank AG (ÖVAG) and Sberbank was signed in Vienna yesterday (Thurs). ÖVAG and Sberbank agreed on a sale of Volksbank International (VBI) already in […]
BCR board ‘irresponsible’, say unionists
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Hundreds of staff of Erste Banks Romanian subsidiary took to the streets in Bucharest today (Fri) to demonstrate against the loss of certain rights in a controversial new labour contract proposal.Banca Comerciala Romana (BCR) unionists who represent 75 per cent of the banks employees accuse the financial institutes executive board of having an […]
Hungary is “playing with fire,” Raiffeisenzentralbank (RZB) boss Walter Rothensteiner has warned as the country plans to go ahead with introducing a bank tax.Hungarian Fidesz National Economy Minister György Matolcsy said after meeting with Austrian Peoples Party (ÖVP) Economy Minister Reinhold Mitterlehner today (Mon) his party would press on with setting up the controversial tax.The […]
Austrian students are interested in economics, but their knowledge about it is cause for concern, according to the Austrian Institute for Educational Research on Economics (ibw).The Institutes report released today (Fri) are the results of a test taken by 1,900 students in Austrian higher-educational institutions and shows that only half of them had an adequately […]