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Bank Insolvency Law: No Austrian Solo Run

Published: July 23, 2012; 19:14 · (Vindobona)

Austria´s government changed its mind. There will be no national bank insolvency law. Austria will wait for a European solution instead.

Bank Insolvency Law: No Austrian Solo Run / Picture: ©

Initially, the government parties SPÖ and ÖVP agreed on initiating a bank insolvency act until summer. Now, the Austrian Ministry of Finance will wait for a „common solution“ and gives up its idea of a national bank insolvency law. The Ministry of Finance expects the implementation to take place in 2013. „Another solution would not be reasonable.“ the Ministry…

This article includes a total of 234 words.

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