Franz Vranitzky (born in 1937) first went into banking and in 1970 became adviser on economic and financial policy to the minister of finance.
After a return to the banking world he entered the political arena through the Socialist Party of Austria, and became minister of finance in 1984. He succeeded Fred Sinowatz as federal chancellor in 1986, heading an SPO-OVP (Austrian People's Party) coalition.
Why is Franz Vranitzky famous?
Franz Vranitzky was an Austrian socialist politician, federal chancellor from 1986.