Austrian Times RSS FeedsLike the Austrian Times Facebook page!Follow us on Twitter!


Events for July
M T W T F S S
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Add your event FREE

Today

Videos


BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria


Cosmo&Nanu
Austrian Times Blog

no picture available

Banks Leave The Sinking Ship And No-One Cares

By Andreas Unterberger

The Erste Bank is considering: Should they move their headquarters to Prague? This news has been leaked by the Czech president Zeman, a socialist, making it semi-official through his acknowledgement. Since then, however, the media here in Austria still doesn't seem to have the subject on its radar.

But of course those in the know have realised that this move has been something the bank, which has had its headquarters in Vienna for around 195 years, has been considering for some time. What really happens with this plan rests with the government in Vienna. And that means with their tax plans. The regional government, not content with leaving the banks to be hit by the national banking tax also want to add the European banking tax and at the same time reach a new world record in the taxes that the bank is expected to pay. Of course this sort of suggestion is perfectly feasible in the political world, even if no bank in the real world can accept it.

Of course in particular the SPÖ is at the forefront of cashing in on this populist proposal to improve their profile. As far as they're concerned chasing the banks out of the country is in a party political sense completely irrelevant. They have after all completely ruined all the banks that had the misfortune of being linked in with them. Either that or they have driven them out of the country. The only banks remaining are those that are quasi-linked with the citizens rather than politicians.

Of course, opposition from the ÖVP to the move is barely noticeable. They would rather allow a working, major bank to leave the country than be outed as a friend of the bankers. Particularly scandalous is how the future boss of the Wiener Kammer and the Wiener Wirtschaftsbundes reacted. He's not worried about the business location Vienna or the banks – he's more worried about issues dealing with the gay community.

And what about the opposition? Greens and even more so blues (FPÖ) are already active in chasing banks. One hates the ideology of the banks and everything they stand for, the other doesn't have any idea about the economy. As far as the other opposition are concerned – there is nothing to be heard.

The Raiffeisen bank – which has a clearly identifiable and strong connection to the ÖVP – remain in the country, but then again it is right up to its eyeballs in difficulties which stretch all the way from the Ukraine through the "Kurier" to biomass.

It seems that nobody in politics understands exactly how catastrophic the situation is in this country when we don't have any large banks.

But the Chancellor Faymann does not seem to care about that. He thinks that without any problem it's entirely sustainable as infinitum that Austrians banks can happily pay more tax than the banks do for example in Germany. And that's despite the fact that Germany is twice the size of Austria.

It seems as if the Erste boss Treichl has given up any hope that anything like these points will take root in Faymann's head. Politics like this will simply not work. About that there is a 100% guarantee. Even those who do not yet have a school leavers certificate should be able to get their head around it. As for Faymann's coalition partner, they are just hanging beaten in the rigging.

And as a footnote, it's not just the bank taxes and the hostile atmosphere in Austria which is driving away the banks. It is also the individual managers, who can now see how much of their salaries are vanishing in taxes and other costs and how much more money they get to keep even if the salary remains the same if they move to the Czech Republic?

Those individual managers can see that better than most who remain behind because, after all, the bank has been active in the Czech Republic now for many years. And Prague, like Vienna, is a wonderful city.

http://www.andreas-unterberger.at/2014/04/lieber-in-prag-als-in-wien/#sthash.40NXsqJN.dpuf

Austrian Times


Are you on Facebook? Like the Austrian Times on Facebook and win great prizes!


Cosmo and Nanu
ORF Watch

Tag cloud:
headquarters  cashing  Prague  Germany  ndash  bank  Faymann  Vienna  Wiener  Austria  Ouml  course  opposition  Unterberger  politicians  banking  taxes  Czech  Erste  government

Latest News

 

Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.

Japanese Pervert Planned Natascha Kampusch Style Kidnap
A Japanese man inspired by Austrian pervert Wolfgang Priklopil kidnapped a 10-year-old girl and kept her in a purpose-built cellar where he planned to train her to become the perfect wife.

German Hiker Yodels For Help After Getting Trapped In Cattle Grid
A portly hiker dressed in traditional Lederhosen was rescued after he yodeled for help after getting stuck for three hours in a cattle grid.

Austrian Wine Grower Sets New Record For Maturing Grapes
An award-winning Austrian winegrower is believed to have set a new record after leaving harvested grapes for an incredible nine months before fermenting them to create an ultra-sweet white and red wine.

Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond
An Austrian castle owner got a shock after discovering this massive aircraft wheel had landed in his duck pond.

Glock Receives Austrian Award At Birthday Party
Austrian gun maker Gaston Glock has celebrated his 85th birthday with a huge ceremony in which the charitable work of himself and his wife Kathrin was honoured with a top Austrian award, and confirmation that this year two streets and a business park are to be named after him.

Sausage Surprise As Giant Wurst Is Pinched
Austrian police are hunting crooks who broke open a market stall and stole a 1.5 metre sausage worth over 2,000 EUR in the picture postcard village of St Michael in the region of Lungau.

Multi Coloured UFOs In Formation Over Austria
Austrian officials say they are baffled to explain a UFO sighting in which dozens of people reported seeing between 50 and 100 objects flying in formation.

Priests Furious After Porn Films Shot In Local Parish Church
A furious Austrian Catholic priest has complained to police after discovering a local woman had apparently been using his church as a studio to make porn films.

Two metre snake sends woman motorist fleeing
An Austrian motorist got a shock after noticing something hanging down from under her car and realising it was a huge two metre snake that had ended up curled around the engine.

 


Mala Vrata

The most popular stories –
last 7 days



Don't moan alone, the Ombudsman Investigates.

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.


Austrian Zimmers