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Eight Austrian Banks to be Supervized by ECB

Politics ♦ Published: September 6, 2013; 20:20 ♦ (Vindobona)

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The European Central Bank will supervise 130 banks in the Eurozone. 18 German and six Austrian banks will have a new supervision authority.

Eight Austrian Banks to be Supervized by ECB / Picture: © Vindobona.org

In future, ECB will be the supervising authority for big banks in the Eurozone. However, the ECB will not be able to decide whether banks have to be liquidated or not. Whether a bank is able to survive remains will still be decided at the national level. “It is not task of the ECB to say that certain banks will be sold or liquidated. There is a clear statement. The question of a…