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BRAVO! AUSTRIA WILL *NOT* BUY BACK KLIMT PICS FOR $300M
Austria's government expressed today it cannot afford to buy back those five Gustav Klimt paintings for $ 300 Mill. that a court has ordered returned to a California woman who says "the Nazis stole them from her family".
Culture Minister Elisabeth Gehrer said the state desperately wanted to acquire the five Klimt pictures - but decided it could not afford the exorbitant sum asked for. The Austrian government could not find the cash in its budget to keep the paintings in Austria - although it would have liked to keep the masterpieces that widely were regarded as national treasures
.
Gerbert Frodl, the Belvedere - the Viennese castle where the pictures have been displayed for decades - gallery's director, called Thursday's decision "an immense loss."
"Acquiring them would have cost four times the annual budget for Austria's national museums", said Wilfried Seipel, director of Vienna's Art History Museum. "Even sponsors were overtaxed by a demand of this magnitude". Moreover Minister Gehrer expressed that Maria Altmann's attorneys stated that they "were not interested in participation of private sponsors in buying the pictures but WOULD ONLY DEAL SELL TO THE STATE..."
Very telling!
Meanwhile, Austria has begun paying compensation to "Nazi victims" from a $210 million fund endowed by the federal government, the city of Vienna and Austrian industries.
Bravo, brave decision of the Austrian Government. They didn't fall into this "trap". Those "restitutioners" although...
But this is another chapter of the story that hasn't been closed yet.
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