Thursday, 17. April 2014
19. 02. 14. - 14:00
Hypo Tirol Bank AG and UniCredit Bank Austria AG are among some of the latest banks to have their ratings downgraded by ratings agency Moody's Investors Service.
Along with Vorarlberger Landes- und Hypothekenbank AG, the agency has slashed the ratings of some of their debt instruments, as well as placing the deposit ratings of Hypo Tirol Bank AG on review for downgrade.
The move is a reaction to uncertainty over whether the Austrian government will opt for allowing ailing lender Hypo Alpe Adria to go insolvent. Moody's said on Tuesday that they believe "bondholders may not be fully protected in that process".
The downgrades follow a similar stance taken by Moody last week when they also downgraded Hypo and the state of Carinthia, the region where the bank is based.
The triple A backed senior unsecured debt ratings of Pfandbriefstelle bank have also been placed on review for downgrade.
The option of creating a state 'bad bank' that would absorb the billions of debts held by Hypo is the preferred approach of the Austrian government although a final decision has not been made yet. Last week the US financial services company Standard & Poor's announced that the increasing likeliness of the Austrian government to set up a state-run 'bad bank' will not immediately damage the country's debt ratings.
Schools Ordered To Save, But Also To Buy Expensive Scales
Austria's embattled finance ministry has been dragged into a new scandal after it emerged that at the same time as demanding schools save 57 Millionen Euros, they were also expected to find an additional 3 million to buy an approved set of weighing scales.
OAP Hunts Down THIS Hit And Run Cyclist
Does anyone recognise this cyclist? If so you can get yourself 200 euros, and do a good deed in the process.
Property price rise continues
The price of property in Vienna has now spiralled so much that every 4th apartment comes with a price tag of 500,000 or more. And every second flat costs 300,000 or more.
Free Staff For One Person Companies - But Only In NÖ
Since the beginning of the year one-man-companies, the so called "Ein-Personen-Unternehmen" in Lower Austria have been entitled to help in the form of a free assistant.
What is on at Burg Kino this week? (18 April - 24 April)
This week at the Burg Kino on the Opernring the following films are showing:
Austria Accused Of Ignoring Giant Nazi Swastika
A huge swastika that has scarred the walls of an Austrian castle for the past 80 years is still on view despite breaching strict postwar rules banning all Nazi symbols.
Jetflyers Take The Jet Ski Onto The Road
An Austrian company is making waves after they came up with the idea of taking a jet ski – and fitting it with wheels.
Nuns invite young women to get a taste of Abbey life
In a bid to revive their Austrian abbey that doubles up as a health resort, a group of nuns are inviting young women to come and stay with them to get a taste of nun life.
Austrian women earning over fifth less than men
Austrian women are earning on average 23.4 percent less than men in the country, according to Statistik Austria.
Exploring photography and art through 1960s cult film Blow-Up
Vienna's Albertina is putting on an photography exhibition featuring stills from the cult sixties photography film Blow-Up by Michelangelo Antonioni.
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|'Most prolific burglar ever' behind bars|
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.