Austrian Former Chancellor Nominated for Top Job at EU Bank

The former chancellor was nominated by Finance Minister Marterbauer for a job at the European Investment Bank, where he is to be appointed as a member of the Executive Board

The Austrian Finance Minister Martenstein (SPÖ) nominated the former Chancellor Karl Nehammer (ÖVP) for a Vice-President post at the European Investment Bank. Nehammer's professional qualification in the field of investment banking is not known. He can increase his chancellor's salary even further, more than 300,000 euros per year are certain. ÖVP is not only good at taking away the money from people, accumulating unfathomable sovereign debt and…

The former Chancellor and EX-ÖVP-Obmann will receive a post for the Executive Board. At the EIB, former Finance Minister Wilhelm Molterer has already docked after his political career.

Austrian Former Chancellor Nominated for Top Job at EU Bank

In another example of the tradition for European politicians to ‘fail upwards,’ Austria’s former chancellor Karl Nehammer could have a new job at the head of the European Investment Bank (EIB), the EU’s lending arm and one of the world’s largest financial institutions. The EIB oversees million-euro EU investments in fields like climate protection, digitalization, infrastructure, and—not least important in the current geopolitical climate—defense…

The Republic is currently digesting the next message from Job to the ever-increasing budget hole, as a message flutters into the editorial offices, according to which the former ÖVP Chancellor Karl Nehammer is nominated for a Board of Directors position at the European Investment Bank (EIB).

The former Head of Government and ÖVP is due to join the European Investment Bank's Executive Board in September.