Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Business > Austria’s new leader defends Kurz as opposition calls him Kurz’s puppet
    Business

    Austria’s new leader defends Kurz as opposition calls him Kurz’s puppet

    Published by maria gbaf

    Posted on October 12, 2021

    3 min read

    Last updated: January 29, 2026

    A haunting image representing the aftermath of a militia attack in eastern Congo's Ituri province, where over 35 civilians were killed. This violence highlights ongoing conflicts in the region related to land and resource disputes.
    Scene depicting aftermath of militia attack in eastern Congo - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Quick Summary

    Alexander Schallenberg steps in as Austria's Chancellor after Kurz's resignation. Allegations of corruption persist, with opposition questioning Schallenberg's independence.

    Austria's New Chancellor Schallenberg and Kurz's Influence

    By Francois Murphy

    VIENNA (Reuters) -Austria’s new Chancellor Alexander Schallenberg pledged on Monday to work closely with his predecessor Sebastian Kurz, who quit https://www.reuters.com/world/europe/austrias-kurz-says-stepping-down-chancellor-2021-10-09 in the face of corruption allegations, fuelling opposition assertions that the new leader will simply do Kurz’s bidding.

    The Greens, the junior partner to Kurz’s conservatives, had demanded Kurz’s head after he and nine others including senior aides were placed under investigation last week on suspicion of varying degrees of breach of trust, corruption and bribery.

    Kurz, who denies wrongdoing, has been the undisputed leader of his party until now and is taking on an additional role as his party’s top lawmaker in parliament. His opponents say he will continue to control policy from those positions and act as “chancellor in the shadows”.

    “I believe the accusations that have been made (against Kurz) are false and I am convinced that at the end of the day it will turn out that there was nothing to them,” Schallenberg, a career diplomat who has become a close Kurz ally, said in a statement to media.

    “I will of course work very closely… with Sebastian Kurz,” he said in his first public pronouncement after moving from his position as foreign minister.

    Schallenberg said he wanted to provide “responsibility and stability” but his remarks did little to appease the opposition.

    “My impression is that he intends to do exactly that: go back to business as usual and act as if nothing happened,” the leader of the liberal Neos party, Beate Meinl-Reisinger, calling on Schallenberg to actively fight corruption.

    PULLING THE STRINGS

    Kurz also pushed back against opposition criticism.

    “I am not a chancellor in the shadows,” he said on Twitter, pledging to support the government in its work.

    Anti-corruption prosecutors say they suspect conservative officials in the Finance Ministry used state funds to pay for manipulated polling and coverage favourable to Kurz to appear in a newspaper starting in 2016, when Kurz was seeking to become party leader. He succeeded and won a parliamentary election the next year with pledges to take a hard line on immigration.

    Critics accuse Kurz of overseeing a system or network that flouted rules on issues like party funding and appointments to state jobs in pursuit of power for him and allies. Kurz, who is under investigation separately for perjury, says all accusations are false.

    “All opposition parties agree there is no change to the Kurz system. He still has all the strings in his hands and designated Chancellor Schallenberg is part of this Kurz system,” Kai Jan Krainer of the Social Democrats, who was on a parliamentary commission of inquiry that looked into possible corruption under a previous Kurz government, told ORF radio.

    At Schallenberg’s swearing-in, President Alexander Van der Bellen said public trust in political institutions had been badly damaged by the investigation and text-messages it revealed that appeared to show Kurz and his allies acting cynically behind the scenes.

    “The rearranged government now has a great responsibility not just to successfully continue this government’s projects but also responsibility for restoring the public’s trust in politics,” Van der Bellen said in his speech.

    In some of the text-message exchanges, widely reported by Austrian media, Kurz calls a rival an “ass” and appears to instigate coalition deadlock, which he said he wanted to prevent. He expressed regret at the wording of some texts in his resignation speech on Saturday.

    (Reporting by Francois Murphy; editing by Philippa Fletcher)

    Key Takeaways

    • •Alexander Schallenberg becomes Austria's new Chancellor.
    • •Sebastian Kurz resigns amid corruption allegations.
    • •Opposition claims Schallenberg is influenced by Kurz.
    • •Kurz denies being a 'chancellor in the shadows'.
    • •Public trust in Austrian politics is questioned.

    Frequently Asked Questions about Austria’s new leader defends Kurz as opposition calls him Kurz’s puppet

    1What is the main topic?

    The article discusses Austria's political changes with Schallenberg becoming Chancellor following Kurz's resignation amid corruption allegations.

    2Who is Alexander Schallenberg?

    Alexander Schallenberg is Austria's new Chancellor, succeeding Sebastian Kurz, and is a close ally of Kurz.

    3Why did Sebastian Kurz resign?

    Sebastian Kurz resigned due to corruption allegations and pressure from political partners and opposition.

    More from Business

    Explore more articles in the Business category

    Image for Empire Lending helps SMEs secure capital faster, without bank delays
    Empire Lending helps SMEs secure capital faster, without bank delays
    Image for Why Leen Kawas is Prioritizing Strategic Leadership at Propel Bio Partners
    Why Leen Kawas is Prioritizing Strategic Leadership at Propel Bio Partners
    Image for How Commercial Lending Software Platforms Are Structured and Utilized
    How Commercial Lending Software Platforms Are Structured and Utilized
    Image for Oil Traders vs. Tech Startups: Surprising Lessons from Two High-Stakes Worlds | Said Addi
    Oil Traders vs. Tech Startups: Surprising Lessons from Two High-Stakes Worlds | Said Addi
    Image for Why More Mortgage Brokers Are Choosing to Join a Network
    Why More Mortgage Brokers Are Choosing to Join a Network
    Image for From Recession Survivor to Industry Pioneer: Ed Lewis's Data Revolution
    From Recession Survivor to Industry Pioneer: Ed Lewis's Data Revolution
    Image for From Optometry to Soul Vision: The Doctor Helping Entrepreneurs Lead With Purpose
    From Optometry to Soul Vision: The Doctor Helping Entrepreneurs Lead With Purpose
    Image for Global Rankings Revealed: Top PMO Certifications Worldwide
    Global Rankings Revealed: Top PMO Certifications Worldwide
    Image for World Premiere of Midnight in the War Room to be Hosted at Black Hat Vegas
    World Premiere of Midnight in the War Room to be Hosted at Black Hat Vegas
    Image for Role of Personal Accident Cover in 2-Wheeler Insurance for Owners and Riders
    Role of Personal Accident Cover in 2-Wheeler Insurance for Owners and Riders
    Image for The Young Rich Lister Who Also Teaches: How Aaron Sansoni Built a Brand Around Execution
    The Young Rich Lister Who Also Teaches: How Aaron Sansoni Built a Brand Around Execution
    Image for Q3 2025 Priority Leadership: Tom Priore and Tim O'Leary Balance Near-Term Challenges with Long-Term Strategic Wins
    Q3 2025 Priority Leadership: Tom Priore and Tim O'Leary Balance Near-Term Challenges with Long-Term Strategic Wins
    View All Business Posts
    Previous Business PostThe move to eCommerce platforms and what it means for SMEs
    Next Business PostChina has won AI battle with U.S., Pentagon’s ex-software chief says