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Bank Assistance is Lucrative for the State
Politics ♦
Published: January 26, 2011; 00:20 ♦ (Vindobona)
Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.
Bank Assistance is Lucrative for the State / Picture: © Vindobona.org
In the wake of the economic and financial crisis, the Austrian Federal Government approved a package for € 100bn, to be allocated to the domestic financial sector and the economy as needed.
According to the WIFO (Austrian Institute of Economic Research) € 36.7bn have been used so far, € 28.2bn of which correspond to guarantees for bank liabilities. Further € 5.9bn were…
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