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Hungarian Crisis: BIS Warns Austria Insistently
Politics ♦
Published: January 9, 2012; 15:34 ♦ (Vindobona)
A collapse of the Hungarian economy would hit Austria very hard, says the Bank for International Settlements (BIS). Austrian Banks have a high exposure.
Hungarian Crisis: BIS Warns Austria Insistently / Picture: © Vindobona.org
Austria could experience dramatic consequences, if the Hungarian debt crisis escalates, says BIS. The Bank for International Settlement sent warnings to major Austrian banks in order to warn of the Hungarian crisis.
About 40% of all Hungarian debts are held by Austrian banks. German banks only hold 21% of foreign claims. The exposure of Austrian banks totals € 32bn, liquid…
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