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Austria-European Union Business & Diplomatic Relations

Brexit and Its Consequences for Austria

Like any other economy within the euro area, Austria will also be confronted with challenges following the Brexit vote, according to the latest analysis by RBI Research analysts. However, the economic momentum should not experience any noticeable weakening, even though one should expect considerable declines in exports to the United Kingdom.

July 1, 2016

CESEE Outlook: Modest Recovery - EU is Obstacle to Growth – BREXIT Poses Uncertainties

According to the latest prognosis of the Vienna Institute for International Economic Studies, the countries of Central, East and Southeast Europe (CESEE) will have a trend growth rate of up to 3% in the period of 2016-2018. This is 1-1½ percentage points higher than average growth in the eurozone. Consumption will be the main growth driver. The Austrian economy is still benefiting from its economic ties with the region. Direct effects of BREXIT on the region will be limited – indirect effects for the European economy as a whole may be considerable.

June 29, 2016

Agenda Austria Recommends Campaign Against Öxit

Think tank Agenda Austria recommends the government in Austria to devise a large campaign against an Austrian exit ("Öxit”), highlighting the benefits of EU membership, since the experts anticipate an increase in discussions concerning this issue.

June 27, 2016

Stock Markets Including Vienna Stocks Nosedive on Brexit Vote

The Vienna stocks are plummeting on Friday, in line with historic losses on other European and international markets, after the Brits voted to leave the EU in Thursday's referendum.

June 24, 2016

20 Years Comprehensive Nuclear-Test-Ban Treaty (CTBT): Ministerial Meeting at VIC

Marking the 20th anniversary of the signing of the Comprehensive Nuclear-Test-Ban Treaty (CTBT), a Ministerial Meeting was held at Vienna International Center. Hosting some 40 international organizations, Austria is a hub for the promotion of peace, safety and security, sustainable development and the fight against crime, drug abuse and terrorism.

June 20, 2016

Mogherini Visits Vienna to Discusses Migration and Nuclear Disarmament Issues with Kurz

EU High Representative Federica Mogherini met with Sebastian Kurz in the margins of the CTBT Ministerial in Vienna on 13 June. Mogherini und Kurz stressed their support for the entry into force of the CTBT and the importance of nuclear disarmament and non-proliferation.

June 13, 2016

Austrian Presidential Candidate Hofer Admits Defeat

Austria's presidential candidate Norbert Hofer admitted his defeat in the election via his Facebook site.

May 23, 2016

Final Results of Austria Presidential Election - Alexander van der Bellen Becomes New President

700,000 votes from polling stations have now been counted. Alexander Van der Bellen has won ahead of his rival Norbert Hofer by 50.3 to 49.7 percent. Thus Alexander van der Bellen, who has the support of the Greens, will become the first Green President of the Republic of Austria.

May 23, 2016 · Updated: May 23, 2016; 16:55

Harald Mahrer Pans Planned Abolition of EUR 500 Banknote

Austria’s State Secretary at the Federal Ministry of Science, Research and Economics Harald Mahrer (Austrian People’s Party) pans the planned abolition of the EUR 500 banknote, agreed by the ECB council. The originators of the plan say it is an important step in the fight against money-laundering, corruption and terrorism, but, as central bank OeNB’s director Kurt Pribil explained on Wednesday evening, there is no evidence that the abolition of the 500-banknote can reduce those crimes.

May 6, 2016

Austria's EU-Turkey Refugee Agreement Payment to Be Made in Autumn

Austria wants to pay its contribution to the EU-Turkey refugee agreement in autumn. The first installment is to be paid in Q4 2016, a spokesperson of the Finance Ministry said. Austria is to contribute EUR 45.6 million to the scheme.

April 21, 2016