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Euro zone finance ministers are set to meet on Thursday to explore ways to boost the development of euro-denominated stablecoins, amid concerns that t...
Austria is basking in the glow of a triumphant Eurovision Song Contest victory, but celebrations have quickly turned to practical concerns over where to host next year’s event and how to pay for it, officials said Sunday.
The country's third Eurovision win came courtesy of 24-year-old operatic pop singer Johannes Pietsch, known as JJ, whose rousing performance of "Wasted Love" clinched victory in Basel, Switzerland overnight. While fans celebrated, government and media discussions immediately shifted to the tens of millions of euros that hosting the contest is expected to cost.
Austria's public broadcaster ORF and the federal government are now locked in negotiations over venue selection and cost-sharing. “We are in intensive discussions with Austrian officialdom,” said ORF Director General Roland Weissmann, who pledged a “transparent process” for choosing the host city.
Vienna, Austria’s capital and largest city, hosted Eurovision in 2015 after Conchita Wurst won in 2014 with "Rise Like a Phoenix", and is widely expected to be a leading candidate again. JJ, who hails from Vienna, has publicly backed the capital as the next host and even suggested that he would like to co-host the show and “fly into the opening ceremony.”
However, the win comes at a difficult moment for Austria’s finances. The newly formed centrist coalition government is dealing with a growing budget deficit, which has exceeded the EU’s 3% threshold, and the country is now in its third consecutive year of economic contraction. Earlier this week, the government unveiled a belt-tightening budget, making the prospect of funding a major international spectacle politically sensitive.
Vice Chancellor and Culture Minister Andreas Babler, appearing on ORF after the contest, confirmed only that “serious discussions” are underway regarding logistics and funding.
While exact costs have not been disclosed, previous Eurovision contests have cost host countries between €25 million and €50 million. The funding structure typically involves a combination of fees from participating broadcasters, host city contributions, and revenue from sponsorships, ticket sales, and public voting.
Still, despite the fiscal concerns, political leaders have reacted with humor and pride. Finance Minister Markus Marterbauer shared a tongue-in-cheek post on Instagram, joking that he had voted for favorite Sweden 3,000 times in an attempt to spare Austria the hosting burden. “It wasn’t enough…” he wrote.
More than a dozen Austrian cities have reportedly expressed early interest in hosting, but ORF officials stressed that no decision has yet been made. A final selection is expected in the coming weeks as budget discussions continue.
For now, Austria celebrates JJ’s victory while preparing for the challenge—and opportunity—of bringing Europe’s biggest music event to the country once again.
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