Austria's grand coalition pulls itself together

Austrian Chancellor Alfred Gusenbauer (SPÖ) and Vice-Chancellor Wilhelm Molterer (ÖVP) reached an agreement for a joint work programme on Tuesday (March 25). The agreement averts the collapse of the grand coalition and subsequent new elections. Michael Völker welcomes this compromise, which was not an easy step for either side: "Yes, the SPÖ has yielded, but at least in the right direction. It has achieved something. This is a victory for Gusenbauer; he has saved his neck. ... And yes, the ÖVP has got its way, but it has also given something in return: consent for a capital gains tax is a major step for the blacks. ... It's hard to believe, but at last the grand coalition is moving on - albeit very slowly and reluctantly. At least we can safely conclude that there won't be elections this year."

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