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Bank Insolvency Law: No Austrian Solo Run
Politics ♦
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: © Vindobona.org
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…
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