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Constitutional Court: Bank Taxes in Line with Constitution
Politics ♦
Published: February 3, 2012; 20:02 ♦ (Vindobona)

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A complaint over bank taxes by Austrian banks was disapproved. According to the court, banks were primarily responsible for the economic crisis.

Bank taxes, which were introduced in 2011, do not violate the Austrian constitution. A complaint by Hypo Vorarlberg was disapproved by the Constitutional Court (VfGH). After extensive bank aids, which were a major burden for the public budget, cost sharing is legitimate. The court referred to the “special role” of banks regarding the economic crisis.
Hypo Vorarlberg argued…
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