Kern and Treichl: Austria's financial disaster for ten years unchanged!

Kern and Treichl: Austria's financial disaster for ten years unchanged!

The economic situation in Austria is alarming, and the responsibility for this is clearly passed on by ex-Chancellor Christian Kern (SPÖ) and Andreas Treichl, the former CEO of the first bank, to the last ten years of government. In an interview, Kern expresses that the current record inflation, rising unemployment and catastrophic budget deficit could not be created in two years: "You can't produce one like we experience in two years." He also denounces that "beyond the budget beyond the election day" and describes the legacy of the last government as a "disaster" ( Ots ).

Treichl agrees and emphasizes that the economic challenges for the upcoming government are considerable. "We already know that 2025 will be worse than in 2024," he says, and appeals to the new coalition of turquoise, red and pink: "If we want to save 2026, the government must be really active in the first six months and implement things." This relates to the need to relieve the budget, which is a sticking point at the time of the coalition negotiations, in order to relieve up to 24 billion euros ( Pulse 24 ).

Core and Treichl demand rapid action

Both, core and Treichl, see massive defects in the past 20 years of politics and demand courage and determination from the new government to restore Austria's economic performance. Treichl warns: "I don't think they have the courage to take steps that bring Austria to where we have been." In particular, the middle class, according to Treichl, has been "left alone" and urgently needs hope for a more stable financial future.