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 […]
The head of Austria’s leading finance institute has shown understanding for the latest bank tax hike and confidence concerning more severe equity ratio regulations. Andreas Treichl, the CEO of Erste Bank Group AG (Erste Bank), said yesterday (Weds) he was not surprised by the government’s decision to jack up the bank solidarity charge by 25 […]
A finance institute the state rescued from ruin in 2008 is in need of more money, according to the finance minister. People’s Party (ÖVP) Finance Minister Maria Fekter admitted yesterday (Tues) that Kommunalkredit – which was nationalised shortly after the collapse of US investment bank Lehman Brothers caused a global crisis – must be funded […]
The government is confronted with mounting criticism after presenting plans to lower the number of parliamentary delegates (MPs). The government coalition, formed by the Social Democrats (SPÖ) and the conservative People’s Party (ÖVP), said earlier this month the number of MPs should shrink by 13 to 165 after the coming election. Viennese SPÖ Mayor Michael […]
Volksbank International (VBI) will continue to have its headquarters in Vienna, the vice chairman of the finance institute’s new owner has promised. Sergey Gorkov, the deputy head of Sberbank’s executive board, said today (Mon) VBI would not leave the Austrian capital. He told the Kurier newspaper the plan was to increase the number of staff […]
Viennese Social Democratic (SPÖ) Financial Affairs Councillor Renate Brauner has stressed that “immense challenges” are ahead for the city. Brauner told the Kurier today (Fri) that the Viennese SPÖ-Greens coalition would try to avoid a decrease of service quality to citizens despite the need to save one billion Euros in the coming five years. Brauner […]
Almost one out of five Austrians consider investing in real estate within the next 12 months, according to an investigation. Public opinion agency Integral found that 19 per cent of Austrians planned to spend money on properties in the coming 12 months – five per cent more than in the previous quarter. The research group’s […]