A German economist has warned from “dangerous monopoly circumstances” in the global rating business. Karl-Heinz Brodbeck told Viennese newspaper Die Presse that the world’s leading credit rating agencies were issuing better grades the more money they made with the rating. He called the situation “dangerous” and called for more transparency. The renowned economic expert – […]
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Standard & Poor’s (S&P) analyst Alois Strasser has warned that a crisis worse than the most recent one could “totally demolish” Austrian finance institutes’ capital. Strasser – who is in charge of the US American rating agency’s economic estimations for the Austrian economy – told Die Presse today (Fri) that the Republic of Austria could […]
One of the world’s leading credit rating agencies has confirmed the Austrian AAA. US American agency Fitch announced yesterday (Tues) it decided to reaffirm the alpine country’s top credit rating. Fitch also gave a stable outlook on Austria’s economic development. The Austrian economy strongly depends on tourism, its retail trade – which employs more than […]
Vienna plans pension age initiative
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The Viennese city coalition plans to crack down on early retirement. Social Democratic (SPÖ) Mayor Michael Häupl announced yesterday (Tues) that he wanted to increase the average pension age of the capital’s public servants from the current 56 to 60 years. Häupl did not disclose when the four-year increase should be achieved. His announcement came […]
Upper Austrian People’s Party (ÖVP) Governor Josef Pühringer has put the federal government’s cost reduction course into question. Pühringer said today (Tues): “Everybody who thinks that subsidies could be reduced by billions of Euros is wrong.” The ÖVP wants to reduce the state’s annual spending on private and public companies, cultural institutions and various organisations […]
The feud of the government parties is intensifying after People’s Party (ÖVP) whip Karlheinz Kopf accused the chancellor of engaging in a class war. Kopf told the Kurier yesterday (Sun) that Werner Faymann would have to accept the main responsibility for a possible failure to agree to a savings package within the agreed deadline. Social […]
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 […]
Fitch confirms Austrian AAA
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Another leading credit rating agency has confirmed Austria’s excellent financial condition. US American rating agency Fitch said yesterday (Tues) it decided to keep Austria’s rating at AAA, the best possible estimation agencies issue on the financial trustworthiness and stability of a country or a company. Some experts warned that Fitch might consider downgrading Austria due […]
Austria keeps top rating
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Moody’s has confirmed Austria’s credit rating. The influential rating agency said on Friday it decided not to lower the country’s rating from the best-possible grade of AAA. Moody’s added that it did not touch the Austrian economy’s outlook either. The rating agency explained Austria’s economy was doing well thanks to its muscular export industry. Moody’s […]
Placebo worries tarnish debt limit talks
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Alliance for the Future of Austria (BZÖ) boss Josef Bucher has labelled the government’s debt limit bill a “placebo brake” as chances for an accord between the coalition and one of the parliament’s three opposition parties are decreasing. The right-winger said today (Thurs) he was willing to fight for an agreement until Monday but also […]