Greek Exit: Costs of € 7.7bn for Austria

Politics ♦ Published: May 14, 2012; 17:23 ♦ (Vindobona)

Austria could have to bear costs of up to € 7.7bn if Greece leaves the Eurozone. Austrian guarantees amount to € 3.1bn.

Greek Exit: Costs of € 7.7bn for Austria / Picture: ©

Economists are not sure how much the exit of Greece would cost. Christian Keuschnigg, the designated director of IHS (Institute of Advanced Studies) thinks that a precise quantification is not possible. “Austria participates in all European action.” Also the Austrian Ministry of Finance did not tell concrete figures. Estimations by U.S. investment banks range between € 280bn and…