Austria: Bank Aids Burden State Budget

Politics ♦ Published: October 22, 2013; 11:29 ♦ (Vindobona)

Since the beginning of the financial crisis, Austria has lost billions of Euros.

Austria: Bank Aids Burden State Budget / Picture: © Vindobona.org

The bank aids are continuing to burden the state budget. Since the beginning of the financial crisis Austria has lost € 4.3bn in saving the banking institutes, according to reports by Eurostat. The calculations take into consideration guarantee fees and dividends. Adding the subsidies for Hypo Alpe Adria and KA Finanz in the summer, the total of bank aids amount to more than five…

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