Carinthia turning into Austria's Greece

[Tender Branson]

That's what happens when you repeatedly elect far-right-wingers and let reckless bankers do their "job":

Carinthia asks Vienna for financial support over Heta

(Reuters) - The home province of defunct lender Hypo Alpe Adria, Carinthia, is asking Vienna for financial support, saying it will run out of money by the beginning of June without external help.

Carinthia provided debt guarantees for years to fuel Hypo's rapid expansion before the practice was stopped in 2007, but the last ones do not expire until around 2017.

With an annual budget of 2.2 billion euros ($2.36 billion), Carinthian officials have said the province cannot honour nearly 11 billion euros of backing for Hypo debt that creditors facing a "haircut" could demand.

Adding to the province's woes, ratings agency Moody's downgraded Carinthia last month to one notch above junk grade, making it more difficult to borrow in the open markets.

In the current financial year, Carinthia needs 340 million euros and is hoping for loans from the capital, a spokeswoman for the province said. Carinthian politicians are meeting Chancellor Werner Faymann and Finance Minister Hans Joerg Schelling in Vienna on Thursday.

The spokeswoman said Carinthia would run out of money in June without help, confirming local media reports. No Austrian province has ever gone bankrupt and there is no legislation on how to handle such an event.

http://www.reuters.com/article/2015/04/23/austria-heta-carinthia-idUSL5N0XK2GG20150423

I'm sure the drunk Jörg Haider knew exactly why he crashed his car with 100 mph ...

[Kevinstat]

Is Carinthia still governed by an SVP-OVP-Greens coalition?  And have they gotten rid of "proporz" for the next term (or when/will/would have that take(n) effect?)

[Tender Branson]

Is Carinthia still governed by an SVP-OVP-Greens coalition?  And have they gotten rid of "proporz" for the next term (or when/will/would have that take(n) effect?)

SPÖ-ÖVP-Greens, yeah.

In their working program, the state coalition has agreed to get rid of the Proporz-system by the end of their term (in 2018) and has set up a special committee to deal with that issue in the state parliament.

Since then, the HYPO scandal was overshadowed all other issues though and Carinthia now has to look how to avoid becoming bankrupt and clean up the mess that was left by Far Right-winger Hörg Haider and his system.

There are still 3 years until the next state election, which means it's possible that the coalition gets rid of the Proporz eventually, after they have dealt with the refinancing problems.