Franz Vranitzky
Franz Vranitzky (German: [fʁants vʁaˈnɪtski]; born 4 October 1937) is an Austrian politician. A member of the Social Democratic Party of Austria (SPÖ), he was Chancellor of Austria from 1986 to 1997.
Franz Vranitzky
Early life and career[edit]
As the son of a foundryman, Vranitzky was born into humble circumstances in Vienna's 17th district. He attended the Realgymnasium Geblergasse and studied economics, graduating in 1960. He financed his studies teaching Latin and English and as a construction worker.
As a young man, Vranitzky played basketball and was a member of Austria's national team, which in 1960 unsuccessfully tried to qualify for the 1960 Summer Olympics in Rome.
In 1962 he joined the Social Democratic Party of Austria (SPÖ).
In 1962, Vranitzky married Christine Christen, with whom he fathered two children.
Vranitzky began his career in 1961 at Siemens-Schuckert, but within the year switched to Austria’s central bank Oesterreichische Nationalbank. In 1969, he received a doctorate in International business studies. The following year, Hannes Androsch, finance minister under Chancellor Bruno Kreisky, appointed him economic and financial advisor. Vranitzky served as deputy director of the Creditanstalt-Bankverein (1976–1981), briefly as its director general and as director general of the Länderbank (1981–1984).
In 1984, Vranitzky joined the SPÖ-Freedom Party (FPÖ) government coalition under Chancellor Fred Sinowatz as finance minister. He was criticized for receiving multiple compensations from his various functions in government-run businesses.
Later activities[edit]
After leaving office, Vranitzky served as Organization for Security and Co-operation in Europe representative for Albania from March to October 1997,[5] before returning into the banking sector, as political consultant to the WestLB bank. In December, he was elected to the board of governors of automotive supplier Magna. He later occupied the same position for the tourism company TUI and Magic Life hotels.
In June 2005, he donated one of his kidneys to his wife Christine, who suffered from chronic kidney failure.
He actively supported his party's frontrunner Alfred Gusenbauer in the 2006 elections. During the campaign it was revealed, that in 1999, Vranitzky had received a million Austrian schillings as a consultant to the BAWAG bank, which was then under public scrutiny. It was alleged that the payment was made without any service in return[6] and that it constituted an "indirect party funding". Vranitzky denounced the allegations.[7]
Vranitzky chairs the quarterly Vranitzky colloquia, organised by the study group WiWiPol, which discusses economic topics and their impact on Austria and Europe. He is a former member of the Steering Committee of the Bilderberg Group.[8]