b. Vienna, April 18, 1938, politician of the Austrian Social Democratic Party (SPOe), tax adviser and entrepreneur. 1967-1981 Member of the Nationalrat, 1970-1981 Minister of Finance, 1976-1981 Vice-Chancellor; as Minister of Finance he replaced the turnover tax with the value-added tax system. Supported free convertibility and was widely acknowledged for his expertise. Was for a long time considered to be the potential successor of Federal Chancellor Bruno Kreisky but since his political office and activity as a tax adviser were irreconcilable he was forced by Kreisky to hand in his resignation. 1981-1988 Director-General of the "Creditanstalt Bankverein" bank; legal proceedings forced him to resign this position; after this time A. was active in management consultancy, mainly in Eastern Europe; started his own businesses ( Austria Technologie & Systemtechnik AG, Oesterreichische Salinen AG) in 1994.
Publications#Die polit. Oekonomie der oe. Waehrung, 1985; Investitionsleitfaden O-Europa, 1996; Der Stand der Dinge, 2000.
Literature#L. Palme, A., 1999.