Austrian Finance Minister Maria Fekter said Austrian lawmakers will approve the 500 billion-euro European Stability Mechanism after European Union finance ministers agreed to look into a financial-transaction tax among a smaller group of nations.
The Austran coalition government requires the votes of one of the three opposition parties to achieve the required two- thirds majority for the ESM in parliament. While the far-right Freedom Party and Alliance for Austria’s Future have both said they won’t vote for the ESM, the Green Party has made its vote conditional on the introduction of a financial-transaction tax.
“We agreed with the Greens that I have to fight for an enhanced cooperation” on the tax, Fekter told reporters in Luxembourg today, refering to the rule that allows a group of at least nine countries to pursue a common policy. “That’s what I did.”