The outgoing Minister of Labor and Economy Martin Kocher (ÖVP) made sharp comments on KTM’s bankruptcy on Monday evening. Kocher told company management: “Management mistakes may have been made.”
Kocher criticized in the “ZiB 2” interview that the realization “that things cannot continue like this” was already present at KTM, but they continued to follow an expansion course. The only thing that cannot be cited here is the general economic situation: “Management mistakes may have been made.”
“Creditors can place advertisements”
In principle, the Minister of Economic Affairs continued, he did not want to give any prejudice, but: “If rules or laws are broken, there is of course shared responsibility. Creditors have the opportunity to file a complaint if there is reason to do so.”
The ÖVP minister admits that the economic situation is actually anything but rosy: “It is the prospects that worry us. The industry is struggling across Europe and needs more competitiveness. We in Austria have to do our homework, but something also has to be done at European level.”
Cooker to alleviate the power factor
Regarding the rising unemployment rates, which go hand in hand with the increasing number of business bankruptcies, Kocher also indirectly involves the green coalition partner in the game: “I have repeatedly pushed for measures that were not implemented – partly because the parties had different ideas”
Of course, this no longer helps the people who are now losing their jobs: “But of course we now have to ensure that the economy gets going again.” The pressure on the labor factor is very high in Austria, and Kocher has once again been in favor of a reduction in additional wage costs.
But hoping for an increase in exports alone is not enough, the minister emphasizes: “We must now start the economic engine – in our own country.”
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.
