Austrian Banks View Savers Protection to be Endangered

Politics ♦ Published: September 15, 2012; 19:54 ♦ (Vindobona)

The planned unification of the deposit protection is met with skepticism at Austrian banks. As the details are not clear yet, the deposit protection is yet no issue anyway.

Austrian Banks View Savers Protection to be Endangered / Picture: © Vindobona.org

This week, the Commission of the EU has presented its proposal for establishing a banking union. According to the Commission, the banking union should contain a centralized supervision authority. Moreover, the deposit protection and the restructuring rules should be unified. As a first step, the competence of ECB will be enlarged. ECB becomes a centralized financial market authority for…

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