Misplaced Pages

#14985

75-656: On 20 October 1905, the Vienna City Council under Christian Social Mayor Karl Lueger made the decision to establish the Zentralsparkasse, following the development of municipal savings banks ( German : Gemeindesparkassen ) in Austria since the 1850s. Like with other similar entities, the city of Vienna was not formally the bank's owner but assumed liability for all its savings deposits and controlled its governance. The new institution immediately became

150-518: A "little people's" („ kleine Leute “) advocate. In this position, his role model and mentor was the popular Jewish physician and local politician Ignaz Mandl [2] , known as "God of the Little People" in Lueger's district of Landstraße (Third District), whom he followed into political life. The association ended when Lueger became identified with antisemitism . He died in 1910. Lueger played

225-412: A bank account is considered indispensable by most businesses and individuals. Non-banks that provide payment services such as remittance companies are normally not considered as an adequate substitute for a bank account. Banks issue new money when they make loans. In contemporary banking systems, regulators set a minimum level of reserve funds that banks must hold against the deposit liabilities created by

300-643: A bill proposed by his long-time opponent Georg von Schönerer to restrict the immigration of Russian and Romanian Jews. He also overtly supported the völkisch movement of Guido von List and created the pun "Judapest", referring to supposed Jewish domination of the Hungarian capital, Budapest . The historian Léon Poliakov wrote in The History of Anti-Semitism : It soon became apparent that especially in Vienna any political group that wanted to appeal to

375-853: A campaigner against corruption. In 1888 he brought together the German National ( Deutschnationale ) and Christian Social factions at City Hall to form a group that later became known as the United Christians ( Vereinigte Christen ). After the 1895 elections for the Vienna Gemeinderat , the Christian Socials won two thirds of the seats, ending the long Liberal rule. The Christian Social supermajority subsequently elected Lueger as mayor. However, during imperial times, mayors had to be confirmed in office by Emperor Franz Joseph . The emperor allegedly loathed Lueger as

450-445: A fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee ; these receipts could not be assigned, only the original depositor could collect the stored goods. Gradually the goldsmiths began to lend money out on behalf of the depositor , and promissory notes , which evolved into banknotes, were issued for money deposited as

525-453: A fifth time in 1897, and after a personal intercession by Pope Leo XIII , his election was finally sanctioned later that year. He was a zealous Catholic and wished to “capture the university” for the Church. He would have neither Social Democrats nor Pan-Germans nor Jews in the municipal administration. He secured good treatment for Czech immigrants. He planned to make Vienna one of

600-448: A joint-stock company owned by an entity called Anteilsverwaltung Zentralsparkasse (AVZ). By then, it had 120 branches in Vienna and 98 in the rest of Austria, the largest branch network of all Austrian credit institutions. On 26 September 1991 it closed a merger with the struggling state-owned Länderbank , forming what was initially called Z-Ländebank Bank Austria AG on 5 October, with retroactive effect from 1 January 1991. AVZ became

675-425: A large number of small to medium-sized institutions in its banking system. As of November 2009, China's top four banks have in excess of 67,000 branches ( ICBC :18000+, BOC :12000+, CCB :13000+, ABC :24000+) with an additional 140 smaller banks with an undetermined number of branches. Japan had 129 banks and 12,000 branches. In 2004, Germany, France, and Italy each had more than 30,000 branches – more than double

750-417: A loan to the goldsmith. Thus, by the 19th century, we find in ordinary cases of deposits, of money with banking corporations, or bankers, the transaction amounts to a mere loan, or mutuum , and the bank is to restore, not the same money, but an equivalent sum, whenever it is demanded and money, when paid into a bank, ceases altogether to be the money of the principal (see Parker v. Marchant, 1 Phillips 360); it

825-568: A main shareholder of Bank Austria, and was converted into a foundation in 2001. In 1994, Bank Austria's headquarters were relocated to a building at Lassallestrasse 5 in the Nordbahnhof neighborhood of Vienna, and the bank eventually left its former building on Vordere Zollamtsstraße in 2008. This bank and insurance -related article is a stub . You can help Misplaced Pages by expanding it . Karl Lueger Karl Lueger ( German: [ˈlu̯eːɡɐ] ; 24 October 1844 – 10 March 1910)

SECTION 10

#1732798385015

900-641: A major competitor to the Erste österreichische Spar-Casse which had been the dominant savings bank in Vienna since 1819. One of the main drivers for its creation had been the expansion of the municipality of Vienna which had absorbed surrounding villages which had their own Gemeindesparkasse , an idea that had been debated since 1885. These included Sechshaus  [ de ] (savings bank est. 1881), Hernals (est. 1890), Währing (est. 1884) and Döbling (est. 1883), all of which were incorporated into Vienna in 1890-1892, as well as Floridsdorf (est. 1881) which

975-552: A model for Adolf Hitler 's Nazism . Karl Lueger came from a modest background, born at Wieden (since 1850 the 4th district of Vienna) to Leopold Lueger of Neustadtl an der Donau and his wife Juliane. His birthplace is now the western part of the main building of the Vienna University of Technology at Karlsplatz where Lueger's father worked as an usher at the Vienna Polytechnic . He nevertheless

1050-457: A part in many political spheres, including Vienna City Council where he eventually became mayor, the federal Austrian parliament, and the state parliament of Lower Austria. In 1875, he was elected to Vienna's City Council ( Gemeinderat ), initially as a liberal . He would serve on the council until his death, save for a two-year break from 1876 to 1878. He campaigned against the government of liberal mayor Cajetan Felder and achieved popularity as

1125-409: A person and considered him a dangerous revolutionary. He was also concerned about Lueger's antisemitism. With the support of Prime Minister Kasimir Felix Badeni , Franz Joseph refused to confirm Lueger as mayor. The Christian Socials retained a large majority in the council, and reelected Lueger as mayor three more times, only to have Franz Joseph refuse to confirm him each time. He was elected mayor for

1200-535: A portion of their current liabilities. In addition to other regulations intended to ensure liquidity , banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords . Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in

1275-402: A purpose-built property at Vordere Zollamtsstraße 13, designed by architect Artur Perotti  [ de ] on the site of the former Bürgertheater which had been demolished in 1960. The building was extensively refurbished in 1988-1992 on a design by architects Günther Domenig and Peter Podsedensek. In 1990, the Zentralsparkasse rebranded as Kommerzialbank Wien and was reorganized as

1350-416: A safe and convenient form of money backed by the goldsmith's promise to pay, allowing goldsmiths to advance loans with little risk of default . Thus the goldsmiths of London became the forerunners of banking by creating new money based on credit. The Bank of England originated the permanent issue of banknotes in 1695. The Royal Bank of Scotland established the first overdraft facility in 1728. By

1425-399: A variety of different ways including interest, transaction fees and financial advice. Traditionally, the most significant method is via charging interest on the capital it lends out to customers. The bank profits from the difference between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference

1500-557: Is Berenberg Bank (founded in 1590). Banking as an archaic activity (or quasi-banking ) is thought to have begun as early as the end of the 4th millennium BCE, to the 3rd millennia BCE. The present era of banking can be traced to medieval and early Renaissance Italy, to the rich cities in the centre and north like Florence , Lucca , Siena , Venice and Genoa . The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. Giovanni di Bicci de' Medici set up one of

1575-446: Is a bank regulation , which sets a framework within which a bank or depository institution must manage its balance sheet . The categorisation of assets and capital is highly standardised so that it can be risk weighted . After the financial crisis of 2007–2008 , regulators force banks to issue Contingent convertible bonds (CoCos). These are hybrid capital securities that absorb losses in accordance with their contractual terms when

SECTION 20

#1732798385015

1650-400: Is a Bills of Exchange Act that codifies the law in relation to negotiable instruments , including cheques, and this Act contains a statutory definition of the term banker : banker includes a body of persons, whether incorporated or not, who carry on the business of banking' (Section 2, Interpretation). Although this definition seems circular, it is actually functional, because it ensures that

1725-403: Is a list of the largest deals in history in terms of value with participation from at least one bank: Currently, commercial banks are regulated in most jurisdictions by government entities and require a special bank license to operate. Usually, the definition of the business of banking for the purposes of regulation is extended to include acceptance of deposits, even if they are not repayable to

1800-431: Is referred to as the spread between the cost of funds and the loan interest rate. Historically, profitability from lending activities has been cyclical and dependent on the needs and strengths of loan customers and the stage of the economic cycle . Fees and financial advice constitute a more stable revenue stream and banks have therefore placed more emphasis on these revenue lines to smooth their financial performance. In

1875-477: Is then the money of the banker, who is bound to return an equivalent, by paying a similar sum to that deposited with him, when he is asked for it. The goldsmith paid interest on deposits. Since the promissory notes were payable on demand, and the advances (loans) to the goldsmith's customers were repayable over a longer time-period, this was an early form of fractional reserve banking . The promissory notes developed into an assignable instrument which could circulate as

1950-742: The Federal Deposit Insurance Corporation (FDIC) as a regulator. However, for soundness examinations (i.e., whether a bank is operating in a sound manner), the Federal Reserve is the primary federal regulator for Fed-member state banks; the Office of the Comptroller of the Currency (OCC) is the primary federal regulator for national banks. State non-member banks are examined by the state agencies as well as

2025-594: The First Austrian Republic in 1918–1933, such as Ignaz Seipel , Engelbert Dollfuss and Kurt Schuschnigg , who led the Austrian society towards Austrofascism . Unlike Hitler, he did not so much inspire antisemitism in them (none of these three were particularly antisemitic), but rather provided one important role model for their generally combative, unrelenting stance towards ideological political opponents, which ultimately proved to be detrimental to

2100-651: The Great Depression , the U.S. Savings and Loan crisis in the 1980s and early 1990s, the Japanese banking crisis during the 1990s, and the sub-prime mortgage crisis in the 2000s. The 2023 global banking crisis is the latest of these crises: In March 2023, liquidity shortages and bank insolvencies led to three bank failures in the United States , and within two weeks, several of the world's largest banks failed or were shut down by regulators Assets of

2175-549: The Holocaust . With the Anschluss of Austria in 1938 street names carrying Jewish names or the names of pacifists were changed. After World War II , Austria started a full-scale program of de-Nazification on both cultural and topographical levels. Nazified street signs were torn down and their names changed back from Nazi to Habsburg heroes. Lueger's monuments present a difficult case because they are genuinely local, yet he

2250-540: The Hotel Zur goldenen Ente (Golden Duck, Riemergasse 4) in Vienna's First District, and would refer to their meetings as Enten-Abende (Duck Evenings). This working group became the focus for social reform, and they organised the Second Austrian Katholikentag in 1889. From this Schindler developed the platform of the fledgling Christian Social Party ( Christlichsoziale Partei , CS). Lueger

2325-569: The Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths. The definition of a bank varies from country to country. See the relevant country pages for more information. Under English common law , a banker is defined as a person who carries on the business of banking by conducting current accounts for their customers, paying cheques drawn on them and also collecting cheques for their customers. In most common law jurisdictions there

Zentralsparkasse - Misplaced Pages Continue

2400-735: The ancient world . In the history of banking , a number of banking dynasties  – notably, the Medicis , the Pazzi , the Fuggers , the Welsers , the Berenbergs , and the Rothschilds  – have played a central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena (founded in 1472), while the oldest existing merchant bank

2475-615: The " Jewish Question " earned him enormous popularity. In 1885 he was elected to the lower house ( Abgeordnetenhaus ) of the Austrian Imperial Parliament ( Reichsrat ), representing the Fifth District of Vienna, and was returned in the 1891 election. From 1890 he was also a member of the Lower Austria parliament ( Landtag ). Lueger, Prince Liechtenstein, Vogelsang and Schindler met regularly at

2550-481: The 15,000 branches in the United Kingdom. Between 1985 and 2018 banks engaged in around 28,798 mergers or acquisitions, either as the acquirer or the target company. The overall known value of these deals cumulates to around 5,169 bil. USD. In terms of value, there have been two major waves (1999 and 2007) which both peaked at around 460 bil. USD followed by a steep decline (−82% from 2007 until 2018). Here

2625-484: The Christian Social Women's League. Although women could not vote, he calculated that they could significantly influence how their menfolk voted, and they also inculcated the party ideology in their children. To maintain his female following, Lueger remained a bachelor and publicly disavowed any private life, claiming that he was too busy because he belonged totally to "my Viennese". After his death there

2700-529: The FDIC. National banks have one primary regulator – the OCC. Each regulatory agency has its own set of rules and regulations to which banks and thrifts must adhere. The Federal Financial Institutions Examination Council (FFIEC) was established in 1979 as a formal inter-agency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions. Although

2775-519: The Jews, readily conceded that he was at heart a decent, chivalrous, generous and tolerant man." According to Amos Elon , "Lueger's anti-Semitism was of a homespun, flexible variety—one might almost say gemütlich . Asked to explain the fact that many of his friends were Jews, Lueger famously replied, 'I decide who is a Jew.' " Viennese Jewish writer Stefan Zweig , who grew up in Vienna during Lueger's term of office, recalled that "His city administration

2850-538: The Stubenring as well as the memorial plaque at the TU Wien have since been contextualized by descriptions highlighting Lueger's antisemitism and his influence on National Socialism. Lueger was the subject of a 1943 biopic Vienna 1910 , in which he was played by Rudolf Forster . He received the following orders and decorations: Bank A bank is a financial institution that accepts deposits from

2925-586: The UK, for example, the Financial Services Authority licenses banks, and some commercial banks (such as the Bank of Scotland ) issue their own banknotes in addition to those issued by the Bank of England , the UK government's central bank. Banking law is based on a contractual analysis of the relationship between the bank (defined above) and the customer  – defined as any entity for which

3000-615: The aegis of City Councillor for Finance Hugo Breitner  [ de ] . Despite the politicization, it was very well managed and by late 1937 had become larger than the Erste Spar-Casse by total assets. Following the Nazi Anschluss of 1938, the Zentralsparkasse kept expanding by taking over the local savings banks of Mödling , Liesing (savings bank est. 1897), Purkersdorf , and Klosterneuburg , after these localities had been incorporated into Greater Vienna in

3075-581: The artisans had no chance of success without an anti-Semitic platform. [...] It was at that time that a well-known phrase was coined in Vienna: "Anti-Semitism is the socialism of fools." The situation was exploited by the Catholic politician Karl Lueger, the leader of Austrian Christian-Social party with a program identical to that of the Berlin party of the same name led by Pastor Stoeker . In 1887, Lueger raised

Zentralsparkasse - Misplaced Pages Continue

3150-639: The bank agrees to conduct an account. The law implies rights and obligations into this relationship as follows: These implied contractual terms may be modified by express agreement between the customer and the bank. The statutes and regulations in force within a particular jurisdiction may also modify the above terms or create new rights, obligations, or limitations relevant to the bank-customer relationship. Some types of financial institutions, such as building societies and credit unions , may be partly or wholly exempt from bank license requirements, and therefore regulated under separate rules. The requirements for

3225-411: The bank will not repay it), and interest rate risk (the possibility that the bank will become unprofitable, if rising interest rates force it to pay relatively more on its deposits than it receives on its loans). Banking crises have developed many times throughout history when one or more risks have emerged for the banking sector as a whole. Prominent examples include the bank run that occurred during

3300-667: The bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated Clearing House (ACH), Wire transfers or telegraphic transfer , EFTPOS , and automated teller machines (ATMs). Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits , and by issuing debt securities such as banknotes and bonds . Banks lend money by making advances to customers on current accounts, by making installment loans , and by investing in marketable debt securities and other forms of money lending. Banks provide different payment services, and

3375-477: The banner of anti-Semitism. [...] However, the enthusiastic tribute that Hitler paid him in Mein Kampf does not seem justified, for the Jews did not suffer under his administration. Other observers contend that Lueger's public racism was in large part a pose to obtain votes, being one of the first who made use of populism as a political tool. Historian William L. Shirer wrote that "his opponents, including

3450-480: The basis of Catholic social teaching developed ideas to overcome social polarisation by several measures of social security legislation and the common Catholic faith. Moreover, after an 1882 electoral reform had expanded the electorate suffrage , Lueger focused on petty bourgeois tradespersons, who assumed the Jewish competition to be the underlying cause of their precarious situation, and discovered that raising

3525-717: The beginning of the 19th century Lubbock's Bank had established a bankers' clearing house in London to allow multiple banks to clear transactions. The Rothschilds pioneered international finance on a large scale, financing the purchase of shares in the Suez canal for the British government in 1875. The word bank was taken into Middle English from Middle French banque , from Old Italian banco , meaning "table", from Old High German banc, bank "bench, counter". Benches were used as makeshift desks or exchange counters during

3600-515: The business of banking for the purposes of the legislation, and not necessarily in general. In particular, most of the definitions are from legislation that has the purpose of regulating and supervising banks rather than regulating the actual business of banking. However, in many cases, the statutory definition closely mirrors the common law one. Examples of statutory definitions: Since the advent of EFTPOS (Electronic Funds Transfer at Point Of Sale), direct credit, direct debit and internet banking ,

3675-533: The capital of the issuing bank falls below a certain level. Then debt is reduced and bank capitalisation gets a boost. Owing to their capacity to absorb losses, CoCos have the potential to satisfy regulatory capital requirement. The economic functions of banks include: Banks are susceptible to many forms of risk which have triggered occasional systemic crises. These include liquidity risk (where many depositors may request withdrawals in excess of available funds), credit risk (the chance that those who owe money to

3750-483: The cheque has lost its primacy in most banking systems as a payment instrument. This has led legal theorists to suggest that the cheque based definition should be broadened to include financial institutions that conduct current accounts for customers and enable customers to pay and be paid by third parties, even if they do not pay and collect cheques . Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers in

3825-468: The cohesion of the Austrian state. In Vienna, Lueger has a square named after him, at least two statues were erected in his honour, and until April 2012 a section of the Ringstraße bore his name. It has been very difficult to decide what to do with monuments honouring historical figures whose reputation has been widely called into question as Europeans (and others) reflect on the historical background to

SECTION 50

#1732798385015

3900-423: The cross-selling of complementary products. Banks face a number of risks in order to conduct their business, and how well these risks are managed and understood is a key driver behind profitability, and how much capital a bank is required to hold. Bank capital consists principally of equity , retained earnings and subordinated debt . Some of the main risks faced by banks include: The capital requirement

3975-408: The customer's order – although money lending, by itself, is generally not included in the definition. Unlike most other regulated industries, the regulator is typically also a participant in the market, being either publicly or privately governed central bank . Central banks also typically have a monopoly on the business of issuing banknotes . However, in some countries, this is not the case. In

4050-486: The fall of 1938. After World War II , the Zentralsparkasse branded itself as "Z" and once again became the house bank of the social democratic municipal administration of Vienna. It played a significant role in the reconstruction of Vienna and from the 1960s onwards in the significant improvement in the living standards of broad sections of the population. Thanks to its scale, it often recorded higher profitability than commercial banks. In 1965, it relocated its head office to

4125-405: The first year, 30,000 accounts were opened with deposits of 14.7 million kronen . Like other savings banks the Zentralsparkasse experienced financial dislocation during the hyperinflation following World War I but sunsequently grew by taking over several smaller banks in Vienna. It was the key financier of the investments of the so-called Red Vienna municipal government from 1919 to 1934, under

4200-589: The funding of these loans, in order to ensure that the banks can meet demands for payment of such deposits. These reserves can be acquired through the acceptance of new deposits, sale of other assets, or borrowing from other banks including the central bank. Activities undertaken by banks include personal banking , corporate banking , investment banking , private banking , transaction banking , insurance , consumer finance , trade finance and other related. Banks offer many different channels to access their banking and other services: A bank can generate revenue in

4275-476: The high standard of living in the contemporary city were created during his terms of office. Lueger served as mayor of Vienna until his early death from diabetes mellitus in 1910. He was buried in the crypt of the newly erected St. Charles Borromeo Church at the Zentralfriedhof (also called Dr. Karl Lueger Memorial Church), whose groundbreaking ceremony he had performed. Lueger's early political life

4350-442: The issue of a bank license vary between jurisdictions but typically include: Banks' activities can be divided into: Most banks are profit-making, private enterprises. However, some are owned by the government, or are non-profit organisations . The United States banking industry is one of the most heavily regulated and guarded in the world, with multiple specialised and focused regulators. All banks with FDIC-insured deposits have

4425-409: The largest 1,000 banks in the world grew by 6.8% in the 2008–2009 financial year to a record US$ 96.4 trillion while profits declined by 85% to US$ 115 billion. Growth in assets in adverse market conditions was largely a result of recapitalisation. EU banks held the largest share of the total, 56% in 2008–2009, down from 61% in the previous year. Asian banks' share increased from 12% to 14% during

4500-450: The legal basis for bank transactions such as cheques does not depend on how the bank is structured or regulated. The business of banking is in many common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business . When looking at these definitions it is important to keep in mind that they are defining

4575-532: The most beautiful of garden cities . In his incumbency, Lueger is credited with the extension of the public water supply by its second main aquifer ( Hochquellwasserleitung ), which provides tap water of mineral-water quality to large parts of the city. He also pursued the municipalization of gas and electricity works as well as the establishment of a public transport system, introducing streetcars (trams) , and of numerous institutions of social welfare, most of which strongly relied on debt financing. He incorporated

SECTION 60

#1732798385015

4650-487: The most famous Italian banks, the Medici Bank , in 1397. The Republic of Genoa founded the earliest-known state deposit bank, and Banco di San Giorgio (Bank of St. George), in 1407 at Genoa , Italy. Fractional reserve banking and the issue of banknotes emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths of London , who possessed private vaults , and who charged

4725-455: The past 20 years, American banks have taken many measures to ensure that they remain profitable while responding to increasingly changing market conditions. This helps in making a profit and facilitates economic development as a whole. Recently, as banks have been faced with pressure from fintechs, new and additional business models have been suggested such as freemium, monetisation of data, white-labeling of banking and payment applications, or

4800-479: The public and creates a demand deposit while simultaneously making loans . Lending activities can be directly performed by the bank or indirectly through capital markets . Whereas banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking , under which banks hold liquid assets equal to only

4875-514: The suburbs, and built parks, gardens, hospitals, and schools. Der schöne Karl ("handsome Karl") achieved tremendous popularity among the citizens. During his tenure, Vienna ultimately changed its appearance as the capital of a great power of the pre- World War I era—a heritage that remained even in Red Vienna after the dissolution of Austria-Hungary in 1918. A significant part of the infrastructure and organisations that are responsible for

4950-462: The year, while the share of US banks increased from 11% to 13%. Fee revenue generated by global investment in banking totalled US$ 66.3 billion in 2009, up 12% on the previous year. The United States has the most banks in the world in terms of institutions (5,330 as of 2015) and possibly branches (81,607 as of 2015). This is an indicator of the geography and regulatory structure of the US, resulting in

5025-813: Was a scandal when his long-time mistress, Marianne Beskiba , published a tell-all memoir including facsimiles of love letters from him; the book provides useful information about his political tactics and how the party was run. Lueger was known for his antisemitic rhetoric and referred to himself as an admirer of Edouard Drumont , who founded the Antisemitic League of France in 1889. Decades later, Adolf Hitler, an inhabitant of Vienna from 1907 to 1913, saw him as an inspiration for his own views on Jews. Though not an explicit pan-Germanist , Lueger advocated racist policies against non- German speaking minorities in Austria-Hungary and in 1887 voted for

5100-637: Was able to attend the renowned Theresianum boarding school ( Theresianische Ritterakademie ) as a day student. He studied law at the University of Vienna , receiving his doctorate in 1870. While at the university he was a member of the Catholic Student Association ( Katholische akademische Verbindung Norica Wien , K.A.V. Norica Wien), part of the Österreichische Cartellverband (ÖCV) fraternities . He established his own lawyer's office in Vienna in 1874 and soon became known as

5175-485: Was an Austrian lawyer and politician who served as Mayor of Vienna from 1897 until his death in 1910. He is credited with the transformation of Vienna into a modern city at the turn of the 20th century, although the populist and antisemitic politics of the Austrian Christian Social Party (CS), which he founded and led until his death, remain controversial, as they are sometimes viewed as

5250-545: Was associated with Georg von Schönerer and the German National Party, which was antisemitic. From the late 1880s onwards Lueger was a regular attendee at the influential circles of clerical social conservative politicians around Karl von Vogelsang , Prince Aloys Franz de Paula Maria of Liechtenstein, and the theologian Franz Martin Schindler. In view of the rising labour movement , the participants on

5325-496: Was incorporated into Vienna in 1904-1905. After the creation of the Zentralsparkasse, these local savings banks continued to operate under the name Wiener Kommunalsparkasse in their respective districts, before fully merging into the Zentralsparkasse in 1923. The Zentralsparkasse began operations on 2 January 1907 in the Old City Hall of Vienna , then permanently set up in a neighboring building at Wipplingerstrasse 4. In

5400-642: Was inspirational for the Nazis. For some, the Lueger monuments show that Vienna has neglected its obligations to the victims of the Holocaust in order to keep its nostalgic appeal as the grand Imperial City. For example, when Austrian-born neurobiologist Eric Kandel won the Nobel Prize in 2000, he "stuck it to the Austrians" by saying it was certainly not an Austrian Nobel; it was a Jewish-American Nobel. He

5475-408: Was perfectly just and even typically democratic." Lueger expressed some scepticism about German nationalism, but as with his antisemitism was quick to exploit the sentiments for his own political purposes. He opposed Austro-Hungarian dualism in favour of federalism and the equality of all the nations making up the empire. His general style of politics later inspired some of the right-wing leaders of

5550-561: Was subsequently telephoned by the Austrian president Thomas Klestil who asked him, "How can we put things right?" Kandel said that first, Dr.-Karl-Lueger-Ring should be renamed. Kandel was offended that the address of the University of Vienna is on that street. After yearlong debates, the Ring was renamed to Universitätsring in April 2012. The monument to Lueger at Dr. Karl Lueger Platz at

5625-631: Was to found and lead the party in 1893, which quickly rivaled the Social Democrats ( Sozialdemokratische Partei Österreichs , SPÖ). He remained one of its most effective leaders till his death and developed his party's federation policy as a means of dealing with the monarchy's issues of multiple nationalities. Much of Lueger's popularity stemmed from his appeal to women; his female followers were variously known as "Lueger's Amazons", "the Lueger Garde" or "Lueger Gretls" and were organised in

#14985