Greek Haircut Would Cost Another € 350m

Business › n.a. ♦ 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: © Vindobona.org

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…

or Log In

Fast News Search
Related News
Do Austrian Banks Need More Capital? (October 15, 2011)
„Austrian Banks Are Robust“ (October 11, 2011)
Surprising Write-Offs at Erste Group (October 10, 2011)
UniCredit: Sale of Bank Austria? (October 8, 2011)
FMA: Negative Performance of Austrian Pension Funds (September 13, 2011)
Read More
Greece, Bond Market, Erste Group, Kommunalkredit, Uniqa, UniCredit, Bank Austria, Banking Industry
Featured
Vienna International Centre - Live-Ticker Coronavirus Situation: Several New Positive COVID-19 Cases, More than 100 Cases in Total
List of National Days of the Home Countries of All Foreign Missions and Delegations in Vienna, Austria
See latest Vindobona Newsletter