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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: © Vindobona.org
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…
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