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Banking Package: Austrian Opposition Criticizes Government Sharply

Published: September 26, 2012; 22:10 · (Vindobona)

Today, the Austrian Audit Court explained that costs may reach up to € 4.8bn.

Banking Package: Austrian Opposition Criticizes Government Sharply / Picture: © Flickr

“Due to the persisting difficult frame requirements, the banking package may cause a substantial burden for the Austrian state.” the Audit court explained. Since 2008, the Austrian government has resolved rescue packages worth € 21bn. Recently, the Austrian economic research institute WIFO said that losses reached € 2.35bn at the end of June 2012.

Hannes Androsch Vice…

This article includes a total of 280 words.

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