Fekter Pleased with New Banking Regulations

Politics ♦ Published: February 28, 2013; 17:47 ♦ (Vindobona)

Austrian Minister of Finance: "Agreement stabilizes banking sector, protects taxpayers and strengthens Austrian SMEs".

Fekter Pleased with New Banking Regulations / Picture: © ÖVP Bundespartei / Jacob Glaser

"Banks are of key importance for the financial and economic centre of Austria. They are the lifeblood of a national economy and enable investment in growth and jobs. However, the past has unfortunately shown that banks can also get into difficulties and have to be picked up by the taxpayer in order to avert even greater economic damage. With the Basel III agreement, the banks are…