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Non-existent Croatian yachts call into question the Austrian state order

After an article was published about dubious dealings in Croatia, particularly regarding leasing, there are increasing calls in Austria for a change in the powers of the provinces. Especially in Carinthia, where the HGAA is headquartered, writes Deutsche Welle.

The already poor image of Carinthia in Austria has been further tarnished by the crisis of the Hypo Group Alpe Adria bank. Risky financial moves by this federal state, such as financing non-existent yachts in Croatia, have now called into question the authorizations of provincial parliaments. The Green Party demands the appointment of representatives for all legal and financial matters of the province, representatives of the People’s Party propose a commissioner-supervisor, and there are also those who claim that Carinthia should best be gifted to Slovenia.

The scandal has also raised many questions about Carinthia in Vienna. The southernmost Austrian province has not been able to boast the best image in Vienna and other parts of Austria until now. However, it seems that the scandal surrounding the Hypo bank and its rescue by federal institutions has somehow overflowed the cup. According to estimates by financial experts, the intervention that saved the bank will cost Austrian taxpayers four to five billion euros, and the reactions of Carinthian politicians from the ruling Alliance for the Future of Austria (BZÖ), who present this rescue operation in Carinthia as a ‘success’, add fuel to the fire.

This is not the only reason for these sharpest criticisms from Vienna. In the ‘Hypo case’, the federal state of Carinthia took on guarantees worth 18 billion euros at that bank, despite the fact that the annual budget of this federal state amounts to only two billion. -And anyone who takes on guarantees that are nine times greater than their income should report to the nearest mental institution as soon as possible, commented Christoph Leitl, president of the Austrian Chamber of Commerce.   (Deutsche Welle)