DG Economic Policy & Financial Markets

The Directorate General is responsible for economic and financial market policy domestically and at an international level.

Data and facts

• Head: Thomas Wieser
• 2 sub-directorates
• 8 divisions
• approximately 95 employees

 

Strategic goals

• Focus of economic policies on sustainability, growth and stability
• Ensuring employment through strengthening economic growth
• Responding to cyclical downturns in a balanced manner
• Ensuring the stability of financial markets, domestically and in the EU
• Maintaining and reinforcing the competitiveness of the financial sector
• Contributing to EU policies that reflect Austria’s strategic interests and further economic integration and growth
• Strengthening Austria’s multilateral and bilateral development cooperation

 

Range of activities

• The division General Economic Policy is central to the Austrian Government's formulation of economic policies. It plays a key role in the preparation of Austria’s Stability Programme and its National Reform Programme. It actively participates in the EU coordination process on economic policy through various committees and working groups and provides analysis and policy advice on a broad range of macro and microeconomic issues. It is also responsible for IMF matters.

 

• The division Coordination of EU Affairs, Enlargement, General Trade Policy coordinates the Ministry’s EU policies - and in particular the Austrian position for COREPER and the ECOFIN Council. It also prepares bilateral meetings and focuses on trade issues.

 

• The division International Financial Institutions is responsible for Austria’s shareholdings in Multilateral Development Banks, i.e. in the World Bank and the regional Development Banks. As part of these activities it engages in co-financing of IFI-projects. Projects are implemented in close cooperation with the Austrian Development Bank.

 

• Ensuring strong and stable framework conditions for financial markets is the central responsibility of the division Financial Markets and Supervision of Financial Market Authority (FMA). It is responsible for FMA matters and those of the Austrian Central Bank, in which the Republic of Austria is the only shareholder.

 

• The division Legal Affairs of Banks and the Capital Market is responsible for banking, securities and capital market legislation. It also negotiates and represents Austrian interests in these issues internationally, mainly at the EU level.

 

• The division Legal Matters of Insurance, State Guarantees is responsible for legal matters of the insurance sector, domestically and internationally. It is also responsible for all government guarantee matters and deals with issues related to international and national accounting standards.

 

• The Ministry of Finance is responsible for the Republic of Austria’s soft loan programme. This task is done by the division of Export Financing and International Export Promotion Policy. It negotiates export credit issues internationally, mainly at an EU and OECD level.

 

• The Republic of Austria assists Austrian companies in international markets by offering export guarantees in conformity with OECD consensus rules. In close cooperation with the Austrian Kontrollbank AG, the division Export Promotion and Export Guarantees is responsible for this task and also deals with Paris Club matters.

 

Organisation

The Directorate General for Economic Policy and Financial Markets is divided into two sub-directorates and 8 divisions:

• Sub-directorate III/A deals with general economic policy as well as with international and EU affairs, including EU enlargement, trade policy and International Financial Institutions (IMF and Multilateral Development Banks). Furthermore, it coordinates EU policy of the Ministry.

• Sub-directorate III/B is responsible for financial and capital markets, covering mainly banking, insurance and securities markets. Furthermore, it deals with Austria’s export credit and finance matters.

 

 

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