Austria at the zero point: What comes after Nehammer's resignation?

Austria at the zero point: What comes after Nehammer's resignation?

Laimgrubengasse 10, 1060 Wien, Österreich - Austria is on the verge of a political upheaval. After the failure of the coalition negotiations between the ÖVP, the SPÖ and the NEOS, Chancellor Karl Nehammer announced his resignation, which has alarming consequences for domestic industry. The current economic crisis, which has been the longest recession since 1945, puts the domestic entrepreneurs into a precarious situation. The industrial association urgently calls for a clear commitment to stable and sustainable economic action from the upcoming government, since the uncertainties in the country continue to grow, as well as ots.at reported.

coalition negotiations failed

The negotiations that started in November ended abruptly when the NEOS withdrew from the conversations. Nehammer had tried to form a coalition with the SPÖ and the NEOS to keep the FPÖ, which had won in the last elections, away from power. The differences of strategies to combat the stagnating economy and the budget deficits proved to be insurmountable. With his resignation, Nehammer leaves the ÖVP in a difficult situation, and it is already speculated about possible successors, so zdf.de .

The uncertainties as to whether the ÖVP is able to find a new coalition partner grow. The ÖVP's economic wing is aiming for a cooperation with the FPÖ, the most successful party of the last elections, while the SPÖ considers further cooperation without the NEOs. In view of the political instability in combination with the poor economic situation, the pressure for fast reforms is becoming increasingly intensive. The necessary steps to initiate the reforms in the areas of labor market and energy are more urgent than ever.