AUSTRIA: New Cabinet

Austrian politicians stick together in a crisis, but when crisis is past Austria's Cabinet is apt to fall. Last week Chancellor Otto Ender & Cabinet were forced to resign after averting an Austrian panic with an agreement whereby the State guarantees the liabilities of Austria's key bank, her great and almost bankrupt Kreditanstalt (TIME, June 8). Although Dr. Ender had deserved well of Austria, his friends & enemies preferred not to associate themselves with the guarantee his Cabinet had given, hence they permitted it to fall.

Some Viennese remained panicky. One day last...

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