Heavy legacy burdens

Swiss franc loans: “Would act differently today”

There is trouble in Puch. The head of the municipality rejects criticism from the opposition that all parliamentary groups agreed to the 2007 financial statements.(Bild: Tröster Andreas)

The exit from Swiss franc loans is expensive. Local leaders are paying for what their municipalities entered into on the advice of the state.

Many a mayor reacts angrily to questions about foreign currency loans. "I can't listen to this anymore. I would do things differently today, but that's how it was back then. For us, it was about financing the Ursteiner Au," says Puch's ÖVP mayor Helmut Klose.