During a recent interview with "Die Welt", Friedrich Schneider, JKU professor emeritus of economics, talked about Ibizagate, corruption, and the resulting damage to the economy. According to the expert on the ‘underground economy’, the latter is modest in comparison with the shadow economy. The republic loses 1-1.5 billion euros a year due to corruption and between 3 and 5 billion euros annually due to a ‘under the table’ work.

Prof. Schneider also commented about the way Austrian Chancellor Sebastian Kurz is handling the current Austrian political crisis as well as questions regarding Austria’s global ranking when talking about corruption.