Austria and the EU

Latest business news about Austria and the European Union.

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Jail sentence for Austrian ex-MEP caught in sting — 14 January 2013, 23:10 CET

An Austrian former member of the European Parliament was sentenced Monday to four years in prison for corruption after being secretly filmed offering to change EU legislation for money.

Undercover reporters testify at EU lawmaker's graft trial — 14 January 2013, 17:19 CET

Two British journalists who went undercover to expose corruption gave damaging testimony Monday in the trial of an Austrian former EU lawmaker, claiming he had offered to influence legislation for money.

Austrian chancellor attacks Britain's Cameron over EU — 12 January 2013, 13:05 CET

Austrian Chancellor Werner Faymann launched a broadside Friday at Britain's Prime Minister David Cameron, accusing him of sending mixed messages when it comes to the European Union.

Romania probes EUR 85m bank fraud — 13 December 2012, 18:44 CET

Two banks operating in Romania have been hit by an 85-million-euro fraud carried out by a criminal group that took out a string of illegal corporate loans its members never repaid, prosecutors said Thursday.

Austrian civil servant wracks up EUR 340m trade loss — 06 December 2012, 19:14 CET

An Austrian civil servant from the region of Salzburg lost as much as 340 million euros ($440 million) in public funds by secretly speculating on high risk derivatives, the regional finance minister David Brenner said on Thursday.

'Stung' Euro-MP in Austrian corruption trial — 26 November 2012, 10:48 CET

A former Austrian interior minister and MEP who resigned after being caught in a sting by British journalists posing as lobbyists went on trial in Vienna on Monday charged with corruption.

Two-billion-euro shortfall at troubled Austrian bank — 14 November 2012, 16:44 CET

Scandal-plagued nationalised Austrian bank Hypo Alpe Adria said Wednesday that it may need more than two billion euros ($2.5 billion) in state aid this year and next.

EU's Schulz welcomes Nobel prize but warns peace 'under threat' — 12 October 2012, 15:27 CET

European Parliament president Martin Schulz hailed the EU's Nobel Peace Prize Friday as recognition of the bloc's integration efforts but warned that peace in the union was "under threat."

Decision on Nabucco West pipeline expected in early 2013 — 08 October 2012, 18:36 CET

A decision on the future of Nabucco West, the shortened version of Europe's gas pipeline project, can be expected in the first quarter of 2013, says Austria's economy minister.

'Chuck Norris' bridge linking Austria, Slovakia opened — 22 September 2012, 20:41 CET

A new bridge that locals wanted but failed to have named after US action movie hero Chuck Norris opened on Saturday linking Austria and Slovakia for cyclists and pedestrians.

ECB in 'panic', former chief economist Stark says — 22 September 2012, 20:41 CET

The European Central Bank is in "panic" over the eurozone crisis and acting outside its mandate with its new bond-buying plans, the bank's former chief economist said in comments published Saturday.

Austria says to postpone introduction of E10 biofuel — 17 September 2012, 22:49 CET

Austria will postpone the introduction of the new E10 petrol, Environment Minister Nikolaus Berlakovich said Monday, saying his country prefers to wait for EU clarification on the use of the alternative fuel.

Greece on road to solving problems: Austria's Fekter — 17 September 2012, 14:53 CET

Austrian Finance Minister Maria Fekter, who typically defends a hard line on aid to struggling eurozone countries, expressed unusual confidence on Monday that Greece would be able to solve its problems.

Austria hails euro court ruling as 'important step' — 12 September 2012, 17:00 CET

Austria welcomed on Wednesday the German constitutional court's decision to allow the ratification of a new eurozone firewall, hailing it as a "an important step" and a "milestone."

Weakening Maastricht Treaty 'historic mistake': Westerwelle — 05 September 2012, 17:02 CET

German Foreign Minister Guido Westerwelle on Wednesday criticised the watering down of the 1993 Maastricht Treaty, one of the European Union's founding treaties, as a massive mistake.

Disgraced Austrian MEP Strasser charged with corruption — 09 August 2012, 12:03 CET

Former Austrian interior minister Ernst Strasser has been charged with corruption in an EU lobbying scandal that forced him to step down as European deputy.

Campaign group says kept in the dark about Facebook case — 30 July 2012, 20:31 CET

An Austrian group fighting for clearer privacy policies on Facebook complained Monday that the Irish Data Protection Commissioner (DPC) was keeping it in the dark about proceedings.

Campaign group says kept in the dark about Facebook case — 30 July 2012, 15:22 CET

An Austrian group fighting for clearer privacy policies on Facebook complained Monday that the Irish Data Protection Commissioner (DPC) was keeping it in the dark about proceedings.

ECB's Nowotny: euro rescue fund could get banking licence — 25 July 2012, 12:22 CET

There are arguments in favour of giving Europe's permanent bailout rescue fund a banking licence in order to boost its firepower, European Central Bank governing council member Ewald Nowotny was quoted as saying Wednesday.

EU court blocks 'Royal Shakespeare' drinks ... from Austria — 06 July 2012, 14:22 CET

A European court struck a blow for "Harry, England, and Saint George" Friday, denying an Austrian company the right to sell a range of drinks under the "Royal Shakespeare" label.

Hungary PM for 27 solutions to EU problems — 12 June 2012, 21:07 CET

Europe's current problems require more diverse and creative solutions, said Hungarian Prime Minister Viktor Orban Tuesday, whose government has complained of Brussels' encroaching power.

Austria: country overview — 30 May 2012, 11:59 CET

Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector.

Austria, Luxembourg frustrate EU plans to fight tax evasion — 15 May 2012, 20:37 CET

Austria and Luxembourg on Tuesday frustrated European Union plans to claw back unpaid tax on earnings lying in offshore banking havens, prompting an angry rebuke from Brussels.

EU rights charter equal to constitution: Austrian court — 04 May 2012, 13:32 CET

Austrian legal decisions will be considered anti-constitutional from now on if they violate European fundamental rights and not just the country's basic law, the constitutional court ruled Friday.

Eurozone boosts anti-crisis firewall to one trillion dollars — 30 March 2012, 23:16 CET

Eurozone ministers hailed a deal Friday to boost their firewall against the debt crisis to more than a trillion dollars but analysts were quick to pounce on "window dressing" to pad out the figures.