Fekter Does not Want to Bundle Austrian Problem Banks

Politics ♦ Published: July 19, 2012; 18:27 ♦ (Vindobona)

As the public debt level would rise dramatically, Austria´s Finance Minister Maria Fekter rejects the idea of a common bad bank.

Fekter Does not Want to Bundle Austrian Problem Banks / Picture: © ÖVP Bundespartei / Jacob Glaser

At the moment, the Austria state has three „problem banks“. Besides the wholly-owned Hypo Group and Kommunalkredit, the Austrian state holds a 43.3% stake in VBAG.

Finance Minister Fekter dislikes the idea of bundling them together to a big bad bank.. „This is no good idea at all.“ Fekter said in an interview with the Austrian newspaper „Kurier“. The consequences for…

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