Austrian chancellor says he will resign after talks on forming a new government fail

Austrian Chancellor Karl Nehammer announced his resignation after failed coalition talks with the Social Democrats, citing “destructive forces” and a lack of economic competitiveness. The next government faces the challenge of reducing a record deficit, addressing a recession, rising unemployment, and a budget deficit above EU limits. The talks began after all other parties refused to work with the far-right Freedom Party, which won a national election in September.

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