Friday, 24. May 2013
22. 11. 12. - 13:00
There is heated debate in Austria after it was revealed that the country's National bank (OeNB) is storing its gold reserves in England.
In response to a parliamentary question the bank said that 224. 4 tonnes (around 80%) of Austrian gold reserves were in the United Kingdom, around 6.9 tonnes (around 3%) are in Switzerland and around 48.7 tonnes (around 17%) are in Austria itself.
The OeNB said that the reason to store gold abroad was that because in a time of crisis it could be speedily traded. Since 2007 Austria's National bank had had a constant reserve of around 280 tons of gold. Through leasing of its gold the Austrian National Bank has in the last 10 years earned around 300,000,000 euros.
The bank's governor Wolfgang Duchatczek revealed the statistics after a question by social Democrat MP Matznetter who wanted to know why Great Britain was regarded as the best place to store Austrian gold .
Duchatczek said: "The bank has always made it clear that our gold reserves are stored at the main gold trading centres."
Currently that would be London and Switzerland - specifically Basel, he said. The gold that the bank has in Austria itself is stored at the Austrian Mint in Vienna.
Salzburg Social Democrats Lose Case Against Finanzbuddha
The social-democratic party (SPÍ) in Salzburg has had to make a public apology on its website after it lost a legal battle against the financial advisory company Finanzbuddha in the context of the financial scandal that has hit the region.
1111th performance in camel theatre
The camels of Kernhof, district of Lilienfeld (Lower Austria) have been acting for ten years. The 1111th performance took place yesterday (Wed). Herbert Eder directed the desert animals.
20 years prison for murdering ex girlfriend
The state court of Linz sentenced a 29-year-old man from Upper Austria to 20 years in jail on Tuesday. The man was accused of having killed his ex-girlfriend and disguising it as a suicide.
Army officer sentenced over getting recruits to lay flooring at his house
The state court of Vienna sentenced a second lieutenant of the Austrian Army to nine months in jail due to misuse of authority. He had three recruits lay the flooring in his own house.
Water quality tests in lakes
The bathing lake next to the motorway in Wals-Viehhausen (Flachgau) has one of the worst water qualities. A test showed that there is a high amount of bacteria in the lake.
Drunk man drives 40 km on wrong side of road
An intoxicated Slovenian man drove 40 km on the wrong side of the Tauernautobahn motorway (A10) on Tuesday night. A courageous lorry driver stopped the Slovenian when the man stopped to urinate.
Tyrol lowest regional unemployment level in EU
In comparison to European regions, Tyrol and Salzburg have the lowest regional unemployment. Most unemployment occurs in the regions of Spain and Greece.
Heidi Chocolat buys Niemetz
The Meinl subsidiary Heidi Chocolat bought the Schwedenbomben manufacturer Niemetz for 5.25 million Euros. The firm promised to keep the production in Austria, which pleased the Niemetz staff.
Child injured on zebra crossing
A ten-year-old girl was severely injured in a car accident in Vienna-Margareten yesterday (Wed). A car hit her on a zebra crossing. It remained unclear whether the girl or the driver was supposed to wait.
Wrong labelling led to contamination
The newspaper "Kurier" reported that there might be a connection between the last radioactive incident in the old chemistry department of the University of Innsbruck, Tyrol, and the radioactive accident in Seibersdorf, Lower Austria.
The most popular stories –
last 7 days
|Mass picnic to protest against ban on sitting on the lawns|
|Huge debate over multilingualism in Austria|
|No smoking in bars does not work finds new study|
|Schwedenbomben manufacturer is saved from insolvency|
|Schools in Vienna discuss possible phone ban|
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.