Cernko Against „Talking Down Austrian Banks“

People ♦ Published: February 17, 2012; 13:56 ♦ (Vindobona)

Bank Austria´s CEO is strictly against an undifferentiated view on CEE-countries. Austrian banks with an exposure in the CEE region shall not be talked down.

Cernko Against „Talking Down Austrian Banks“ / Picture: © Uni Credit Group Bank Austria

Willibald Cernko wants financial analysts to observe the CEE region in a more differentiated way. Austrian banks engaged in Eastern Europe shall not be talked down, even not by rating agencies. Cernko: “Of course, worst-case scenarios include the assumption of a major recession. Nevertheless, I am against prejudice on a whole region and a short-sighted view.”

According to…