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Eurozone

RBI: Grexit Still an Option

RBI analysts conclude in their latest risk analysis, that today’s summit agreement should not be taken as end to the risk of Grexit yet. If the agreement fails to clear the necessary parliamentary hurdles, the ECB could soon withdraw its support for Greek banks, forcing Greece out of the Euro. Even after a successful conclusion of negotiations the risk of Grexit could soon resurface: If the willingness of the Greek government to implement reforms declines again after the current pressure is reduced, todays crisis summit would be followed be new ones, whenever a new aid tranche has to be paid out.

July 13, 2015

Greece - Austria May Lose Up to EUR 10 Billion

Following a clear "No” of the Greeks to the savings and reform proposals of creditors the likelihood of Greece's exit from the Eurozone has increased substantially. In case of bankruptcy of the Greek state and Greek banks the maximum loss for Austria would amount to almost EUR 10 billion (USD 11.1 billion).

July 6, 2015

Grexit: Maximum Loss for Austria EUR 9.3 Billion, According to FAZ

The maximum loss in case of Greece's default amounts to EUR 317 billion - this is the total value of the Greek state's debts. According to "Frankfurter Allgemeine Zeitung", which relied on data from UBS, Ifo and Eurostat, Germany would have to bear most of the burden, i.e. EUR 87.6 billion. According to the newspaper, Austria could lose up to EUR 9.3 billion (USD 10.328 billion).

July 3, 2015

Nowotny: Situation in Greece Dramatic

Austria’s central bank head Ewald Nowotny commented, while participating in a conference in Vienna, that the situation in Greece was certainly dramatic, since banks and stock exchanges would be closed for a week, and that people could only hope that the referendum in Greece would yield a reasonable solution.

June 29, 2015

Austrian Economy is Underperforming the Eurozone Average

Ernst & Young's latest analysis on the Eurozone forecasts that the Austrian economy is to grow 0.7% in 2015, underperforming the Eurozone as a whole for the second consecutive year. Investment is expected to remain subdued, while the contribution of exports will be only marginal as a consequence of the modest external environment.

June 24, 2015

EBRD Sees Mixed Outlook for CESEE Countries in 2015-16

The outlook for economies in central and south eastern Europe is improving on the back of eurozone monetary easing but prospects further to the east of the transition region have worsened, as the impact of Russia’s recession intensifies.

May 14, 2015

Austrian Parliamentary Budget Commission Discusses EFSF

Capital liabilities of Austria owed to the European Financial Stability Facility (EFSF) have been discussed by Austria’s parliamentary budget commission. The amount provided by Austria to the EFSF totalled EUR 10.17 billion as of the end of June 2014. Austria’s payments to the European Stability Mechanism amounted to EUR 2.23 billion.

September 18, 2014

Austria: Right-Winged Extreme Party Buoyed by Tailwind

The Austrian right-winged Freedom Party (FPÖ) is using the disappointment over the grand coalition’s inability to tackle major economic issues to its advantage.

May 21, 2014

“Romania Can Never Become the China of Europe”

Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.

May 15, 2014

Croatia to Place New Eurobond by June

The Croatian government plans to issue a Eurobond until the beginning of June.

May 9, 2014