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Fekter Rejects Deposit Protection in EU

Published: October 4, 2012; 21:09 · (Vindobona)

At the Alpbach Financial Symposium, Austria´s Minister of Finance Maria Fekter underlined to reject the European deposit protection.

Fekter Rejects Deposit Protection in EU / Picture: © ÖVP Bundespartei / Jacob Glaser

For Fekter, it is not conceivable that Austrian banks will be liable for deposits in Greece, Cyprus or elsewhere. Initially, the deposit protection was designed as component of the banking union. The two other pillars are the banking supervision and the bank liquidation mechanism.

After German banks offered fierce resistance, it seems that the Commission decided to postpone the…

This article includes a total of 217 words.

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