Monday, 21. 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.
(will be approved by an editor before going online)
Pink Easter bunny helps Vienna art world pay tribute to Dürer
The Viennese art world has created its own version of the Easter Bunny – by making a giant sized sculpture of the famous Albrecht Dürer painting currently on display until 29 June as part of the exhibition "Dürer, Michelangelo, Rubens"
Pressure Group To Tackle Victims Of Austrian Officialdom
A group of businessmen fed up at the way companies are being squeezed not only by red tape but also by ever newer taxes have taken to the Internet to try and build up pressure for change.
First Hotel in Millstatt Celebrates 130th Anniversary on Summer 2014
Luxury hotel See-Villa in Millstatt, Carinthia opens its doors anew to welcome the 2014 summer season and celebrates its 130th founding anniversary in Austria's summer capital.
Austrian Teen Girls Become Pin Ups For Syrian Jihad
Interpol is searching for two Austrian teenage girls who they believe have been tricked into going to Syria to fight on the side of Islamic rebels.
As seen at Haydn Kino: The Amazing Spider-Man 2
Film review by Kostyantyn Steblovskyy
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:
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|
|Muslim Brotherhood leader denies move to Graz|
|Two teenage girls go missing as they fly from Austria to fight in Syria|
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.