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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.
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…
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