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Erste’s Treichl Says Politicians ‘Cowardly’ on Basel III Rules

Published: May 16, 2011; 16:51 · (Vindobona)

Andreas Treichl, CEO of Erste Group, provokes fierce reactions with his criticism of Austrian politicians and new international capital rules.

Erste’s Treichl Says Politicians ‘Cowardly’ on Basel III Rules / Picture: © Vindobona.org

Erste Group Bank AG Chief Executive Officer Andreas Treichl sparked a row in Austria when he said the country’s politicians are “too stupid and too cowardly” to resist tougher international capital rules.

The Basel Committee on Banking Supervision’s proposed Basel III rules, which require banks to hold more capital, will hurt both Erste and the Austrian economy, Treichl,…

This article includes a total of 327 words.

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