Vienna´s Indebtedness Grows

Politics ♦ Published: May 26, 2012; 16:48 ♦ (Vindobona)

Austria´s capital ignored the warnings of the Audit court and lets the debt burden grow further.

Vienna´s Indebtedness Grows / Picture: ©

Already in 2009, the Austrian Audit Court warned of the rising public debt level in Vienna. The financial management would be uncontrolled, there would be no risk analyzes and no clear and documented financial strategy. Nevertheless, Vienna´s city government did not care at all. In 2010 and 2011, the public debt level rose by another € 1.0bn.

In 2011, Vienna´s new…