Austria: Kurz Resigns as Chancellor Amid Corruption Probe

Source: Bloomberg

“Austrian Chancellor Sebastian Kurz resigned Saturday in the face of corruption allegations, a stunning blow for a rising star of European conservative politics. In televised comments, Kurz said the government had reached a ‘stalemate’ with all other parties arrayed against him, and that he’d asked Austrian President Alexander Van der Bellen to name Foreign Minister Alexander Schallenberg as chancellor. … Kurz and nine others are suspected of funneling federal funds to a newspaper publisher to orchestrate his meteoric rise. Prosecutors raided the offices of several Chancellery staff this week. Kurz has denied wrongdoing; on Saturday, he called the allegations false. His decision to quit aimed at salvaging the coalition government of his People’s Party and the Greens, who otherwise were looking to form an alternative bloc.” (10/10/21)