30Sep08: Austria
General election: “new style” grand coalition after surge from the right.
Snap elections on 28Sep proved inconclusive for the prospect of future government.
Both grand coalition parties, the Socialists (SPÖ) and the Conservatives (ÖVP), recorded a significant drop in support
Main beneficiaries are the right wing parties FPÖ and BZÖ.
The ÖVP, which triggered the elections failed to achieve its key objective of overtaking the SPÖ, and will be forced to accept a revamped Grand coalition.
Asset conclusions: generally market negative but limited impact. The ascent of populist right wing parties might force more populist politics and public spending.
© EZA
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