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Fekter: Up to € 1.0bn for Kommunalkredit
People ♦
Published: March 3, 2012; 13:30 ♦ (Vindobona)
In case of a default of Greek sovereign bonds, the Austrian state would have to grant € 1.0bn to the nationalized bank Kommunalkredit.
Fekter: Up to € 1.0bn for Kommunalkredit / Picture: © ÖVP Bundespartei / Jacob Glaser
Problems of Austrian nationalized banks go on. After the partly nationalization of VBAG, Finance Minister Maria Fekter stated that Kommunalkredit, which was became state-owned in 2008, could need further capital. In case of a complete default of Greek sovereign bonds, the bank would require another € 1.0bn.
“In this case, the bank needs very much capital – about one billion…
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