"Krone" guest commentary

The people are paying the price

Christian Baha is a stock market expert and founded Austria's first stock exchange terminal in 1993, which delivers data in real time. In 1996, he established the world's first hedge fund for private investors. Baha has always pursued the vision of making funds for wealthy individuals accessible to smaller investors.

(Bild: stock.adobe.com, Krone KREATIV)

Austria's politics present a disastrous picture. The army of unemployed is growing every day. Major companies are going bankrupt every week. Every month, people feel that life is becoming more expensive, from the petrol pump to the supermarket. What are the grandees of politics doing? They let lengthy government negotiations collapse due to party interests.

We are experiencing the worst recession of the Second Republic, the real budget gap is up to 24 billion euros. Austria's finances urgently need to be restructured. If the course does not change drastically immediately, we will pay dearly.

In fact, our policy needs more of the targeted cool-headedness of the next US president: Donald Trump has nominated highly successful captains of industry as ministers. They know how to lead companies to success and create jobs. Trump doesn't care about old structures, he creates new ones such as the Bureaucracy Reduction and Efficiency Agency, which Tesla founder Elon Musk will head.

US citizens voted on November 5. To date, Trump has met all the heads of the global corporations Amazon, Apple, Facebook, Microsoft and General Motors for talks, and all ministers have been chosen.

Austria voted on September 29. So far, only the politicians have met each other. Their own and party interests have been looked after. Austrian citizens are of secondary importance. Once again, the people are paying the price.