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Greek Haircut Would Cost Another € 350m

Published: October 18, 2011; 14:11 · (Vindobona)

Austrian banks still have a substantial exposure in Greece. A haircut up to 60% seems possible. Then, another € 350m would have to be written off.

Greek Haircut Would Cost Another € 350m / Picture: © Flickr

A haircut of Greece seems to be unavoidable. EU politicians did not exclude this step anymore. According to Jean-Claude Juncker, a haircut of up to 60% could be realized. The quotation of Greek bonds is already at 40% of their nominal price.

Austrian banks have already written off Greek bonds – but only between 20% and 50%. If the feared haircut is exercised, another € 350m…

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Greek Haircut Would Cost Another € 350m

Austrian banks still have a substantial exposure in Greece. A haircut up to 60% seems possible. Then, another € 350m would have to be written off.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.