Wednesday, 23. April 2014
30. 01. 14. - 11:00
Ailing Austrian bank Hypo Alpe Adria could receive 1 billion Euros from the government in 2014, Finance Minister and leader of the Austrian People's Party Michael Spindelegger has confirmed.
The news contradicts expectations that the bank would receive between 400 and 900 million Euros as part of a plan agreed to by the EU to give Hypo up to 5.4 billion in state aid over four years.
The bank has already received 1.75 billion Euros of this last year. With the 1 billion scheduled for 2014, the government is now left with 3.65 billion Euros that they can give the bank in aid.
Whether Hypo receives the full amount set aside for them this year depends on the level of support the government is hoping to they'll get from the healthy Austrian banks in dealing with the 13 billion Euros of bad assets held by Hypo.
The government is currently in talks with banks such as Erste Bank, Bank Austria and Raiffeisen Bank to see if they can absorb some of Hypo's toxic assets although it is not a popular plan as banks already feel under strain from a recent hike in a national bank levy.
ORF Watch To Probe State Broadcaster
Nine Austrian journalists, including the author of this article which is one of many published on my Tagebuch (diary), have got together to create a new website www.ORF-Watch.at.
Julius Meinl expands to UK
Austria's prestigious coffee brand Julius Meinl is launching its famous product in the UK, with the hope of challenging the British culture of taking coffee to go.
Indestructible Armoured Police Tank Damaged By Eggs And Tennis Balls
An Austrian manufacturer of a high-tech anti-riot water cannon costing almost 1 million EUR is facing some tough questions after one of the vehicles was badly damaged during a demonstration that involved eggs and tennis balls.
Wiener Linien grinds to a temporary halt Wednesday morning
Vienna's public transport will grind to a halt between 4 am and 6.30am on Wednesday morning as unions hold an emergency meetings to discuss the safety of Wiener Linien staff.
Vienna to host fashion awards
Since 2009, the Vienna Awards for Fashion and Lifestyle has played a big role in the Austrian fashion scene and has evolved itself into one of the country's most important events in the industry to date.
Angry business leaders say Austria is too expensive
Austria as an economic location is seriously under threat according to domestic business leaders.
Austrian architecture in the 20th Century
The Architecture centre in Vienna is opening the third stage of it's long term exhibition looking at Austrian 20th and 21st Century architecture.
Czech canoeist drowns in Austria
A canoeist drowned on the Saalach River in Austria at the weekend after his canoe capsized in the water.
Austria to house a further 1000 Syrian refugees
An extra 1000 Syrian refugees will be allowed into Austria on top of the original quota of 500, Interior Minister Johanna Mikl-Leitner has said.
Criminal caught after asking police if he should be arrested
A criminal who thought he had got away with four counts of embezzlement and fraud managed to alert police to his crimes after he walked into a police station to ask if there was an arrest warrant out on him.
The most popular stories –
last 7 days
|Austrian Teen Girls Become Pin Ups For Syrian Jihad|
|Turtle flies from Vienna to India to try his luck with the ladies|
|Austria Accused Of Ignoring Giant Nazi Swastika|
|Pink Easter bunny helps Vienna art world pay tribute to Dürer|
|Angry business leaders say Austria is too expensive|
Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.
Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.