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


Events for October
M T W T F S S
29 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
Add your event FREE

Today

Videos


BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria


Cosmo&Nanu

Joerg Haider

Ruling SPÍ and ÍVP Coalition at Record Low Over Hypo Scandal

Austria's coalition government is under fire over its management of a banking crisis in which it agreed to nationalise the Hypo Alpe Adria bank in a move that has saddled the country with an estimated 18 billion euros in debt.

The Carinthian Hypo Alpe Adria was a bank that had expanded too quickly with heavy investments in particular in the Balkans where its activities were backed by Austrian local government guarantees. At the time Carinthia was ruled by the now deceased far right Freedom party leader Jörg Haider, who in exchange for guaranteeing the bank used it like his own personal piggy bank to fund voter winning ideas.

But before the banks serious problems became apparent Haider had managed to sell it to a German bank owned by the Bavarian government and he famously told people in his southern Austrian province: "Now we are rich."

Yet in a move not yet properly explained Austria's coalition government of the left-leaning social Social Democrats (SPÖ) and the conservative People's party the ÖVP decided to buy the bank back for a nominal fee of one euro, freeing the German bank and the German regional government from the eventual disaster that the bank was to become.

The Hypo disaster has been a stick that the government has used to criticise the far right Freedom party of the FPÖ, at least until recently where the scale of the debt has become apparent, and Austrians are now asking exactly why it was that Austria had bought the bank back? Voters are also reportedly fed up at the way each new day seems to bring fresh revelations about government mismanagement of the project of people increasingly asking why is it even now so many years later that there is still no solution.


The matter was brought into sharp focus with the decision by Haider's daughter Ulrika to enter politics as a candidate for her fathers breakaway political party the BZÖ in the upcoming European Parliamentary election.

She said: "The reality is that my father sold the bank at a profit to the Austrian taxpayer. The question is, why did the Austrian government then buy it back?"

The question seems to be one that voters are asking themselves. The ÖVP is already lying at a 20% voter share with the SPÖ at between 23 and 25%.

The far right Freedom party of Heinz Christian Strache in contrast is estimated at being between 25 and 27%.

The Green party that for too long has been seen as uncritical of the social Democrats with many local coalitions in operation has also suffered as a result losing ground against the new liberal NEOS with the two parties now battling it out for fourth and fifth place.

Austrian Times


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


Cosmo and Nanu
ORF Watch

Tag cloud:
apparent  Freedom  Carinthian  German  Haider  Democrats  Austria  estimated  management  guarantees  Ouml  government  debt  voter  coalition  bank  euros  disaster  social  Hypo

Latest News

 

MEP caught In Brit papers Fraud Probe Jailed
A corrupt MEP caught by a British newspaper offering to propose amendments to EU laws in exchange for 100,000 euros a year has been given a three-year-jail term.

Vienna Jihad Girls Want To Come Home
The two Austrian teenage girls who became Ĺposter girlsĺ for the jihad in Syria are now desperate to come home after getting completely disillusioned with their new lifestyles.

Mega-Station Opens
There was a festival atmosphere as Bundespresident Heinz Fischer opened Vienna's new Hauptbahnhof Friday morning.

Apple Truck Causes Traffic Jam
When 24 tonnes of apples are catapulted across a road it can only mean a jam.

Farmer Cleared Over Wolf Shooting
Furious animal rights campaigners have accused an Austrian farmer of lying after he shot dead a wolf that he claimed he thought was a fox.

Rare Bald Ibis Makes Microlight Flight To Italy
The project to introduce an extinct bird back to Europe is hailing success after successfully negotiating a new route over the Alps and training 14 Northern Bald Ibises how to fly south to winter feeding grounds in southern Tuscany.

Pat On The Back From Manure Explosive
A traffic cop in Austria got more than he bargained for after a booby trap covered him head-to-toe in manure as he was trying to catch people speeding.

Viennese Jihad Girl May Have Been Killed
Austrian police say that one of the two attractive young teenage girls who fled the country to go to Syria to fight on the side of Islamic rebels may have been killed.

Perversion of a Medical Dream
The Decline and Fall of the Otto Wagner Hospital, Vienna.

Fat Can Be Used To Burn Off Weight After New Patent Unveiled
It is being hailed as a sensation after scientists at an Austrian university patented a method that transforms fat storing cells into mini factories capable of actually destroying fat by burning it off.

 


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