Chief Correspondent, Vienna, Vienna
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Feb 12, 2014

Hypo’s Balkans network sale moving ahead – Deutsche Bank

VIENNA, Feb 12 (Reuters) – The sale of Hypo Alpe Adria’s
Balkans banking network is moving ahead, unaffected
by a row over how to handle the group’s chronic need for state
aid, according to a senior executive from Deutsche Bank, which
is handling the deal.

The nationalised Austrian lender sees its network in
southeastern Europe (SEE) as its prime asset as it winds down
other businesses.

Feb 11, 2014

New haul found in Austria home of Munich art hoarder

VIENNA (Reuters) – An elderly German recluse whose spectacular trove of artworks hidden in his Munich flat probably include Nazi loot kept a further 60 paintings in his home in Salzburg, Austrian media reported on Tuesday.

The Salzburg haul includes works by artists such as Monet, Renoir and Picasso, the Austria Press Agency (APA) said quoting a spokesman for Cornelius Gurlitt, whose father, Hildebrand Gurlitt, dealt in “degenerate” art confiscated by Nazi Germany.

Feb 10, 2014

Austrian watchdog warns against letting Hypo go bust

VIENNA (Reuters) – Austria’s markets watchdog has warned the government against letting nationalized lender Hypo Alpe Adria go bust, saying it was impossible to gauge the risks of such a move.

Austria had to nationalize Hypo in 2009 after a decade of breakneck expansion at home and in the Balkans – fuelled by debt guarantees from its home province of Carinthia – pushed the bank to the brink of bankruptcy.

Feb 4, 2014

Two Austrians get kidnap threats on eve of Games

VIENNA/SOCHI, Russia (Reuters) – Two Austrian competitors have received kidnap threats on the eve of the Sochi Winter Olympics, heightening security concerns at the Games and triggering an investigation by counter-terrorism experts.

It was not known who made the threats, in a letter to the Austrian national Olympic Committee, although Islamist militants have warned of attacks to undermine President Vladimir Putin’s hopes of using the Games to show Russia is a safe, modern state.

Feb 4, 2014

Olympics-Two Austrians get kidnap threats on eve of Games

VIENNA, Feb 4 (Reuters) – Two Austrian competitors have received kidnap threats on the eve of the Winter Olympics in Sochi, heightening security concerns at the Games and triggering an investigation by counter-terrorism experts.

It was not clear who made the threats, in a letter to the national Olympic Committee, but Islamist militants have warned of attacks to undermine President Vladimir Putin’s hopes of using the Games to show Russia is a safe, modern state.

Feb 3, 2014

Austria should consider letting Hypo go bust -WIFO head

VIENNA, Feb 3 (Reuters) – Austria should at least consider
allowing troubled lender Hypo Alpe Adria to go bust,
a prominent economist said on Monday, opposing the official line
in an increasingly heated debate about how to handle the
nationalised bank.

The government, central bank and a special Hypo task force
have warned that a Hypo insolvency might trigger a chain
reaction that could suck in other banks and ruin Austria’s
reputation on international capital markets.

Jan 30, 2014

Mozart museum seeks to debunk evil Salieri poison myth

VIENNA, Jan 30 (Reuters) – It’s one of the great mysteries
of music – did composer Antonio Salieri poison his onetime
protege Wolfgang Amadeus Mozart with arsenic?

The famous 1984 Milos Forman film “Amadeus”, based on Peter
Shaffer’s play, leaves little doubt he did. But now the Vienna
museum dedicated to Mozart’s legacy has launched a campaign to
burnish Salieri’s reputation as a supporter of the younger
Austrian genius – and not a jealous villain.

Jan 29, 2014

Ski jumping-Austria’s Iraschko dreams of Olympic flight

VIENNA (Reuters) – Growing up in Eisenerz in Austria’s deep Erzberg valley, Daniela Iraschko never had any doubt that ski jumping was a sport for girls.

Now she is set to join a select group of women competing for the first time for Olympic medals in the event – until now a men-only affair – at the Sochi Games next month.

Jan 29, 2014

Olympics-Ski jumping-Austria’s Iraschko dreams of Olympic flight

VIENNA, Jan 29 (Reuters) – Growing up in Eisenerz in Austria’s deep Erzberg valley, Daniela Iraschko never had any doubt that ski jumping was a sport for girls.

Now she is set to join a select group of women competing for the first time for Olympic medals in the event – until now a men-only affair – at the Sochi Games next month.

Jan 27, 2014

Austria wants banks to help restructure Hypo Alpe Adria

VIENNA, Jan 27 (Reuters) – Austria will ask commercial banks
to support a “bad bank” for Hypo Alpe Adria, its
finance minister said on Monday, looking to spread the burden of
cleaning up a lender the state was forced to bail out in 2009.

Getting healthier banks such as Erste Group,
Raiffeisen Bank International (RBI) or Bank Austria
on board could help hive off around 13 billion euros
($17.8 billion) in problem loans, leases and property at Hypo.

    • About Michael

      "Mike has worked for Reuters for two decades and reported from more than a dozen countries on business and general news. His beats have included covering the European automotive industry, business news from Switzerland, German defense and security policy, and Hungary's transition to a market democracy after the collapse of communism in eastern Europe"
      Joined Reuters:
      1987
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