Friday, 24. October 2014
18. 12. 12. - 15:00
A central government loan made to the regional government in Salzburg appears to have been used at least in part for risky financial investment according to local media.
The latest development follows on from the news that millions were invested on financial markets by an alleged rogue trader without the knowledge of her financial superiors.
But while that investigation is continuing it now appears that a credit of 1.7 billion Euro granted by the federal financing agency (OeBFA) is partly used for questionable financial investments. According to Austrian finance minister Maria Fekter of the Austrian Peoples Party (ÖVP) currently 400 million Euro are unaccounted for.
The missing millions were originally borrowed for use by the regional building fund. However, of the 1 billion Euro designated for the fund, only 600 million arrived and are accounted for.
The finance ministry now believes that the missing 400 million Euro have been used for questionable financial speculation, which would be illegal because money borrowed from the OeBFA must not be invested in securities. However, this would not be the first case of such transactions in Salzburg.
Markus Kumpfmüller, the responsible manager for risk assessment at the OeBFA, explained that it is neither the OeBFAs function to supervise the use of the borrowed money on the regional level nor to ask for securities in exchange for the debt.
Get Shorty As Confused Bald Ibis Gets Lost Again
A rare bald Ibis that seems to have a different sense of direction to her fellow birds has once again had to be rescued after getting stuck trying to find a different route to the southern Italian feeding ground.
Alpine Trains Venture Into Space As The Final Frontier
Austria’s national railway line the OeBB has raised eyebrows after offering themed toilets including one that is supposed to "look and smell like outer space".
MEP caught In Brit papers Fraud Probe Jailed
A corrupt MEP caught by a British newspaper offering to propose amendments to EU laws in exchange for 100,000 euros a year has been given a three-year-jail term.
Vienna Jihad Girls Want To Come Home
The two Austrian teenage girls who became ‘poster girls’ for the jihad in Syria are now desperate to come home after getting completely disillusioned with their new lifestyles.
There was a festival atmosphere as Bundespresident Heinz Fischer opened Vienna's new Hauptbahnhof Friday morning.
Apple Truck Causes Traffic Jam
When 24 tonnes of apples are catapulted across a road it can only mean a jam.
Farmer Cleared Over Wolf Shooting
Furious animal rights campaigners have accused an Austrian farmer of lying after he shot dead a wolf that he claimed he thought was a fox.
Rare Bald Ibis Makes Microlight Flight To Italy
The project to introduce an extinct bird back to Europe is hailing success after successfully negotiating a new route over the Alps and training 14 Northern Bald Ibises how to fly south to winter feeding grounds in southern Tuscany.
Pat On The Back From Manure Explosive
A traffic cop in Austria got more than he bargained for after a booby trap covered him head-to-toe in manure as he was trying to catch people speeding.
Viennese Jihad Girl May Have Been Killed
Austrian police say that one of the two attractive young teenage girls who fled the country to go to Syria to fight on the side of Islamic rebels may have been killed.
The most popular stories –
last 7 days
|Dirty Diggers Face Jail For Grave Offence|
|Russian Artist Cuts Off His Ear|
|Shocking Pics As Boys Arm Torn Off At Zoo By Bear|
|Docs Perform Heart Surgery By Mobile Phone Light|
|Beggars Disable Camel For Cash|
Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.
Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.