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 […]
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The European Commission (EC) has appealed to Austria to abolish the various hindrances immigrants are facing on the country’s labour market. EC officials decided yesterday (Mon) to issue a warning to the Austrian government coalition of Social Democrats (SPÖ) and People’s Party (ÖVP) as well as to Austrian private economy decision-makers. EC experts said highly […]
Cars lacking eco-friendly engine systems should be kept out from Vienna form 2013, a Green Party official has suggested. Rüdiger Maresch said today (Fri) owners of cars with excessive carbon emissions could be blocked from entering the federal capital in less than two years by creating a new motorised traffic rules system. The Vienna Greens […]
After 130 years of exposure to the weather, the facade of Vienna’s town hall is to be renovated as a whole for the first time. The general renovation of the façade will cost at least 35.7 million Euros but so far undiscovered damage could increase costs. No other building on Vienna’s Ring street has used […]
Günter Verheugen has launched a scathing attack on German Chancellor Angela Merkel over her actions in the European debt crisis. The former vice president of the European Commission (EC) told Austrian magazine profil the situation would be different today had Merkel said from the start that Europe would let no member of the European Union […]
One of Europe’s most influential economists has unleashed an extraordinary attack on the continent’s political elite. Hans-Werner Sinn – who heads the Institute for Economic Research (IFO) in Munich, Germany – has become one of the most outspoken critics of the European Union’s (EU) steps in reaction to the debt crisis of Eurozone members like […]
Austrian People’s Party (ÖVP) Finance Minister Maria Fekter has emphasised that private companies should get on board to rescue Greece. The cash-strapped Eurozone and European Union (EU) member state is seen on the brink of bankruptcy by a growing number of financial market experts. Many commentators fear the southern country will be unable to pay […]
Austrian banks strongly engaged in Italy
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Austrian banks have a lot to lose in debt-ridden Italy, figures released today (Tues) show. Financial market authorities announced that bank institutes based in the Alpine country invested 15.8 billion Euros in the struggling Eurozone member state which borders it in the south. They pointed out that Austrian banks’ exposure in Greece – which has […]
A German politician has been accused of acting “bizarrely and hysterically” by calling on his fellow countrymen to shun Denmark this summer in favour of Austria. Jörg-Uwe Hahn, the minister for European affairs in the German state of Hessen, suggested Germans willing to go abroad this summer should pick Poland or Austria due to Denmark’s […]
Austria’s biggest travel agency has revealed that bookings of trips to Greece are up despite the turmoil in the country. Hundreds of thousands downed tools and took to the streets in Athens and elsewhere in the Eurozone member to voice their disagreement with the government’s fiscal decisions. Greece has received hundreds of millions of Euros […]