The contracts of the directors of the National Bank run until next year, but the government wants to install its confidants there quickly before the elections. There is a tug-of-war between the governing parties and the General Council, especially over the position of deputy governor.
The decision should be made the following week: on June 24, the 14-member General Council of the National Bank, chaired by Mahrer, president of the Economic Chamber, will propose the four-member leadership committee that the federal government should appoint.
There has been a fierce tug-of-war over these four people for weeks, not only between the two government parties, which secured the joint appointment in a side letter, but also within ÖVP circles.
Kocher as governor
The appointment of Martin Kocher, Minister of Labor and economic researcher, as governor of the National Bank is almost certain. His public application not only caused applause in the discreet body of the General Council, but his professional competence is considered undisputed.
The other names
The other two men for the management task are Thomas Steiner, previously head of the HR department and already a member of the board of directors, he is assigned to the ÖVP, and Josef Meichenitsch, head of a subdivision of the large bank. supervision and, as confidant of Vice Chancellor Werner Kogler, the Green candidate: they should become or remain directors, theoretically the position of deputy governor would also be possible.
A crucial factor is who will be responsible for banking supervision; until now this was subordinate to the deputy governor.
Also a woman in the shortest choice
But not everyone in the General Council likes it when two men are on display. Edeltraud Stiftinger, an experienced manager, currently head of the Austrian Economic Service and now the fourth candidate, would be the most logical choice.
The non-renewal causes an uproar
What is extremely remarkable is the clear non-renewal of the former director and bourgeois economic expert Gottfried Haber, who was already considered Finance Minister of the ÖVP. A lack of loyalty to the wishes of the ÖVP is mentioned internally as a possible reason. The question is also whether he can move on to the top of the Financial Market Authority (FMA), as has been rumoured. Mariana Kühnel, Deputy Secretary General of the Austrian Chamber of Commerce, is responsible for this.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
