Chaotic nomination: Nehammer at EIB - a post Schacher?

Chaotic nomination: Nehammer at EIB - a post Schacher?

The nomination of the former Austrian Chancellor Karl Nehammer as Vice President of the European Investment Bank (EIB) causes violent discussions. Christian Hafenecker, General Secretary of the Freedom Party of Austria (FPÖ), criticizes the decision of SPÖ finance minister Markus Marterbauer. Hafenecker points out that Nehammer has no experience in banking or finance, which questions its suitability for such a position. He describes the nomination as a "classic post-shacker in red and black retro style", which does not meet the state requirements or the needs of the bank, such as OTS reported.

SPÖ politician Nowotny, the first Austrian in the EIB directorate, underlines that the bank tasks can also be supported by experienced experts within the bank. He also emphasizes the European network of Nehammer. According to the provisions of the EIB business regulations, the EU experience is sufficient for the personnel decision. Hafenecker not only calls on the government to take back the nomination, but also the Neos boss Beate Meinl-Reisinger for a clear statement. This had initially learned about the media from the nomination and was surprised.

background of the nomination

The nomination of Nehammer comes at a time when Austria has a nomination right for a post in the EIB directorate. Marterbauer's confirmation of the nomination has already caused political reactions. The EIB, as the largest multilateral sponsoring bank in the world, works closely with other EU institutions and awards loans in important areas such as climate protection and digital transformation, such as The press explained.

Another relevant point is the role of Wilhelm Molterer, who was Vice President of the EIB from 2011 to 2015. Molterer, a former finance minister and ÖVP boss, illustrates the connection between previous political offices and the EIB. This nomination of Nehammer therefore also raises the question of whether this is a continuation of the political influence or whether the qualification is actually in the foreground.

the EIB and its meaning

The EIB is known as the EU's EU funding bank, which is financed by investments to support the Union's political goals. The current President Werner Hoyer, who has held the post since 2012, will remain in office until the end of the year, while the Spanish Minister of Economic Affairs Nadia Calviño is scheduled to succeed. Under Hoyer's leadership, the EIB has invested considerably in climate protection projects. Over half of the loans last year were planned for such projects, and since Russia's invasion into Ukraine, the bank has provided around 2.3 billion euros for reconstruction, which underlines the influence and scope of action of the institution, as Tagesschau reported.