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Exposure in Eastern Europe Remains Austria´s Weak Point

Politics ♦ Published: May 30, 2012; 15:52 ♦ (Vindobona)

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The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.

Exposure in Eastern Europe Remains Austria´s Weak Point / Picture: © Vindobona.org

„Austria faces special challenges due to the big exposure of ist banks in the countries of Central and Eastern Europe as the asset´s quality may deteriorate further.“ the EU-Commission states.

According to BIS (Bank for International Settlements), the exposure of Austrian banks in the countries of Central and Eastern Europe totaled $ 295bn in the third quarter of 2011. In…