Erste’s Treichl Says Politicians ‘Cowardly’ on Basel III 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,…