Grexit would Cost Austria € 11.0bn

Politics ♦ Published: July 13, 2012; 18:32 ♦ (Vindobona)

The Brussels-based think tank CEPS states that Austria would have to bear costs of € 10.9bn in case of a Greek exit out of the Eurozone.

Grexit would Cost Austria € 11.0bn / Picture: ©

After the failed austerity targets and the call for  more time to fulfill the requirements of the creditors by Greece, OeNB´s governor Ewald Nowotny expressed his concerns. Ewald Nowotny underlined the massive lack of reforms in Greece and referred to the political unwillingness to introduce such reforms.

For The Austrian econmist Fritz Breuss, there are three alternatives.…