Austria
Posted: Mon Sep 29, 2008 2:53 pm
Austria played a pivotal role in the development of the European war
in the 1930s.
On May 11, 1931, the Credit-Anstalt bank of Austria failed. This
triggered mass panic and bank failures throughout Central Europe, and
generated a worldwide banking crisis. On July 13, the German Danatbank
failed. Foreign investors in Germany quickly withdrew their capital
from Germany, heightening the crisis, leading to the complete collapse
of the German economy. By the end of the year, there were over 6
million unemployed, and the resulting social tension gave rise to
Communism and Naziism.
Yesterday (Sunday), Austria stunned Europe and Israel because of a
far right victories in the general elections
The two far-right parties, the Freedom Party and the Alliance for the
Future of Austria took nearly 29% of the vote, preliminary results
show.
The Social Democrats won the polls with 30%. But they, and the
conservative People's Party, with 26%, suffered their worst results
since 1945.
The Social Democrats and the People's Party had formed a coalition
that had governed until recently, when political bickering forced a
new election.
http://news.bbc.co.uk/2/hi/europe/7641441.stm
Israel has expressed concern over the result, foreign ministry
spokesman Yigal Palmor said in Jerusalem. "We are following with
concern and anxiety the increase in factions supporting xenophobia,
denial (of the Holocaust) and friendship with neo-Nazis," he said.
http://afp.google.com/article/ALeqM5iF0 ... YlZQ65gnEg
The Austrian election has a special historical significance because
of the conjunction of two events: The sudden rise of the far right,
and the American Congress's rejection of the "Bailout of the World"
plan on Monday. Wall Street stock indexes have plummeted 5-6% on the
news.
John
in the 1930s.
On May 11, 1931, the Credit-Anstalt bank of Austria failed. This
triggered mass panic and bank failures throughout Central Europe, and
generated a worldwide banking crisis. On July 13, the German Danatbank
failed. Foreign investors in Germany quickly withdrew their capital
from Germany, heightening the crisis, leading to the complete collapse
of the German economy. By the end of the year, there were over 6
million unemployed, and the resulting social tension gave rise to
Communism and Naziism.
Yesterday (Sunday), Austria stunned Europe and Israel because of a
far right victories in the general elections
The two far-right parties, the Freedom Party and the Alliance for the
Future of Austria took nearly 29% of the vote, preliminary results
show.
The Social Democrats won the polls with 30%. But they, and the
conservative People's Party, with 26%, suffered their worst results
since 1945.
The Social Democrats and the People's Party had formed a coalition
that had governed until recently, when political bickering forced a
new election.
http://news.bbc.co.uk/2/hi/europe/7641441.stm
Israel has expressed concern over the result, foreign ministry
spokesman Yigal Palmor said in Jerusalem. "We are following with
concern and anxiety the increase in factions supporting xenophobia,
denial (of the Holocaust) and friendship with neo-Nazis," he said.
http://afp.google.com/article/ALeqM5iF0 ... YlZQ65gnEg
The Austrian election has a special historical significance because
of the conjunction of two events: The sudden rise of the far right,
and the American Congress's rejection of the "Bailout of the World"
plan on Monday. Wall Street stock indexes have plummeted 5-6% on the
news.
John