Spindelegger: “Arsonists Are to Blame Not Fire Brigade”

People ♦ Published: April 29, 2014; 16:51 ♦ (Vindobona)

The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.

Finance Minister Spindelegger wants to slim the Austrian Federation. / Picture: © Vindobona.org

“There is one mountain too many in our country, and that is the debt mountain. It is the one mountain that continues to grow. It cannot go on like this.” These were the words the Austrian Finance Minister opened his first budget speech with. His main target is that “making debts in this (legislative) period has to stop.” For the time being the deputy Chancellor has no good news…

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Leaders, Michael Spindelegger, Budget Deficit, Public Debts, GDP Gross Domestic Product, Taxation, Fiscal Policy, Banking Industry, Hypo Group Alpe Adria, Austerity
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