Austria: Bank Rescue Massive Burden for Public Finance

Politics ♦ Published: December 21, 2013; 17:48 ♦ (Vindobona)

In total, costs of the Austrian banking package come at € 6.75bn. Expenses are only partially covered by revenues.

Austria: Bank Rescue Massive Burden for Public Finance / Picture: © Wikipedia / JJ55 (30 March 2008)

For the Austrian taxpayers, the nationalization and the public aid for the domestic banking sector is a huge burden. In total, expenses reach € 6.75bn. Revenues only amount to € 2.33bn. As a result, the net loss comes at € 4.42bn. Further losses are inevitable.

The biggest burden it the nationalized Hypo Group Alpe Adria, followed by Kommunalkredit/KA Finanz and VBAG. After…

or Log In

Fast News Search
Related News
Rothensteiner: Austrian Sovereign Debt Rating Includes Bank Bail-Out (December 20, 2013)
Austria: Rules for Bank Tax to Be Changed (December 20, 2013)
Austria: Options of Bad Bank for Hypo under Examination (December 20, 2013)
Hypo Group´s Bankruptcy: Major Threat for Raiffeisen Sector (December 19, 2013)
Croatia: Privatization of HPB Fails (December 13, 2013)
Read More
Banking Industry, VBAG, Hypo Group Alpe Adria, Kommunalkredit, KA Finanz
Featured
Coronavirus in Lower Austria: Update
See latest Vindobona Newsletter