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Schiefer, Peter

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3 articles of this author have been cited in the European Press Review so far.

Die Presse - Austria | 20/07/2007

Austrian criticism of Hungary's protectionism

Peter Schiefer is concerned about the Hungarian government's efforts to prevent former state-owned oil company MOL from being taken over by Austria's OMV. Hungary plans to pass a new law to protect major companies from being acquired by foreign companies. "This kind of thing is in vogue all over Europe at present. German Chancellor Angela Merkel wants to use a similar law to protect major German companies from being taken over by Chinese government funds or Russian state-owned companies. And in liberal Britain, such a law already exists. Yet such regulations are supposed to be aimed only at preventing core areas of Europe's economy from being sold to non-European states. A Hungarian anti-OMV law would protect a European company from being sold to another European country. This, like the other protective measures, would be a clear violation of the principle of free movement of capital - and therefore against EU law."

Die Presse - Austria | 09/05/2006

A merger in the energy industry

Peter Schiefer reports that the power company OMV is about to take over the Austrian Elektrizitätswirtschafts-AG (Verbund) and comments: "People in the energy industry are saying that it's those who control the entire supply chain – from the gas fields to the plug – who will win in the long term. This is why Russian energy giant Gasprom wants to buy gas suppliers and electricity companies in Europe. Why? Because a company that can produce cheap electricity using a cheap and safe supply of natural gas would really shake up the market. Managers of energy companies all over Europe are afraid of this happening, which is why Gasprom will encounter all kinds of obstacles on its westwards march... The local 'energy giant' will not be powerful enough to pose a threat to Europe. It's more likely to remain a medium-sized player on the European market... On the other hand, an OMV/Verbund merger would be unique because there is no other company that supplies electricity, gas and oil at the moment."

Die Presse - Austria | 18/04/2006

Sweden's goodbye to oil

Peter Schiefer approves of Swedish Prime Minister Göran Persson's plans to make his country independent of oil by 2020. Sweden is pinning its hopes on a combination of alternative energies. But achieving independence from fossil fuels involves maintaining nuclear power. "Sweden's example shows what an energy debate that is (relatively) free of ideological arguments can achieve – namely that the country can do better without oil and Co. Why? Because by renouncing oil Sweden will be renouncing the most expensive source of energy in the world.... The Swedes say they will do this by 2020 only provided it can be done without negative consequences for production, the labour market and the social state. This pragmatic attitude is exemplary in the midst of the otherwise over-ideologised energy policies."

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