Page 1/20


Austria’s Parliament Okays Greece Bailout Negotiation Mandate

The Nationalrat, Austria’s parliament, passed on Friday in a special session the negotiation mandate for another Greek bailout package. The opposition opposed the decision, as expected, and the motions was adopted only thanks to the votes of coalition parties SPÖ and ÖVP.

July 17, 2015

Austrians Want to Consume Less - Greek Crisis Spoils Sentiment

Despite increasing income expectations Austrians want to consume less. According to the current GfK economic trend survey this is associated with the hard negotiations in the Creek debt crisis. The conflict had a strong impact on the sentiment of consumers in most European countries in the second quarter GfK Austria reported on Wednesday.

July 15, 2015

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

Wifo Head Aiginger Relieved About Greece’s Decision

Head of research institute Wifo, Karl Aiginger, expressed his relief about the agreement on the Greek bailout, reached on Monday. A failure to reach a compromise would threaten the European project, he opines, adding that the ‘Grexit’ is no longer an issue.

July 13, 2015

Fourteen CEE Countries Sign MoU on Integrated Gas Market

Austria and thirteen other European Union and Energy Community countries in Central Eastern Europe and South East European regions signed a memorandum of understanding in Dubrovnik on joint efforts to build up gas infrastructure links and resolve technical and regulatory issues in order to create an integrated energy market in the region.

July 10, 2015

Voestalpine CEO: Grexit Economically Feasable

According to Voestalpine CEO Wolfgang Eder the crisis in Greece is not an economic problem, but a political one, because Greece’s economy constitutes merely 1.3 percent of the EU’s GDP. It does not matter, he argues, what decision is made on Sunday, since the EU will be able to manage after the Grexit.

July 10, 2015

Nowotny: Austria's Financial Market Stability Not at Risk from Greece

Austria's financial market stability is not facing any risks from the ongoing Greek debt crisis, central bank OeNB governor Ewald Nowotny assured on Wednesday as the presentation of the latest financial market stability report.

July 8, 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

Immigration: Austria Keeps Gates Closed for Croat Workers

Eight EU member states, Belgium, Cyprus, France, Germany, Greece, Italy, Luxembourg and Spain have opened their borders to workers from Croatia. Austria, Malta, the Netherlands, Slovenia, the UK keep their gates closed though, for another three years, the EC announced.

July 1, 2015