Loser traffic light: Is Austria threatened with a financial catastrophe?

Loser traffic light: Is Austria threatened with a financial catastrophe?

The political landscape in Austria is upside down because the FPÖ, led by NAbg. GDR. Hubert Fuchs, protested vehemently against the ÖVP's measures. Fuchs warns that the “loser traffic light” could only worsen the government situation and slide the country into an EU deficit procedure. In his statements, he particularly criticized Finance State Secretary Eibinger-Miedl, who suggested that such a procedure could possibly be accepted in order to achieve the required consolidation volume. According to Fuchs, this would not only endanger Austria's financial sovereignty, but would also result in more expensive loans for citizens and entrepreneurs, which would further fuel inflation ots.at reported.

The Freedom Party politician warned that the introduction of an excessive deficit procedure could lead to conditions familiar from countries such as Greece, where strict financial controls and austerity led to a noticeable decline in the quality of life. Fuchs makes the statement that the ÖVP would submit to the SPÖ and thus put together “burden packages” for the citizens. In this regard, he emphasized that the FPÖ had always called for these measures to be prevented and that the way citizens' budgets were handled must be taken seriously.

Strengthening of the Freedom Party in the EU elections

oe24.at reported.