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Austria Must Implement Liquidation Mechanism for Banks
Politics ♦
Published: September 13, 2013; 19:51 ♦ (Vindobona)

In order to minimize fiscal losses, Austrian problem banks should be liquidates soon, IMF claims. In this case, Austria would not reach its fiscal targets in the next years.

Regarding Austria´s banking sector, the IMF emphasizes the necessity of a liquidation mechanism for problem banks. Moreover, the experts of IMF suggest implementing a deposit protection fund for domestic savers.
The private sector, by contrast, is not endangered of over-indebtedness. Risks for private borrowers are rather low as only 36% of the Austrians are indebted. In case of…
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