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Why Austria Needs to Take Immediate Action to Address Bank Profits and Savings Interest Rates

The topic of banks unites the spokesman for the KPÖ, the mastermind of the FPÖ and the deputy editor-in-chief of “Standard” in “WildContest”. They agree: The way things are going now – high profits for banks, low savings interest for customers, it cannot go on. The stupid are the savers. What the government is planning is not effective, but is due to the election campaign.

It has been known for months that banks do not pass on interest on savings to customers, while interest on arrears is high could become a major problem in the futurewarns KPÖ federal spokesman Tobias Schweiger in “wild disputes”.

Bank rescue: Austria has learned nothing

“Let’s think about how the 2008 financial crisis came about. Let’s think about the fact that people were no longer able to service their mortgages and that, following that, we Billions had to be invested in the banking sector to save the banks“, only because it was played recklessly before. “We will be heading towards this situation again if we don’t take political measures against the banking sector now.” Austria has learned nothing from the banking crisis. That is why the state must intervene now, before two years from now the next bank bailout package has to be put together and you have to think about how many nursing staff you can save for it.

Two to three percent interest “for the sake of mercy”

FPÖ pioneer Andreas Mölzer also agrees with the KPÖ spokesman. “The idiots of the nation are those who save. They get two to three percent for mercy’s sake. On the other hand, you pay six, seven, eight percent for credit. There is an imbalance. With all understanding for the banks, which also have to earn something. (…) But that is unbalanced.”

It can’t go on like this, that’s clear, says the deputy editor-in-chief of the “Standard” Petra Stuiber. But the fact that the minister is now attacking the banks “with fanfare and trumpets” is because the primary election campaign is already under way. Because the lawsuit that Johannes Rauch has brought in is “not much”. It could take forever for that to come out, if at all.

She advises great caution. With every measure you have to think carefully about the consequences. Because you cannot support people with home builder loans and let them slide into poverty with consumer loans that they take out because they can no longer afford to live. “It’s a bottomless pit.”

2023-08-16 19:07:52
#Andreas #Mölzer #nations #idiots #save

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