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Industry Wants to Suspend Banking Tax

Published: December 29, 2011; 17:07 · (Vindobona)

The new capital requirements for banks are criticized by the Federation of Austrian Industries and the research institute WIFO.

Industry Wants to Suspend Banking Tax / Picture: © IV / Markus Prantl

Christoph Neumayer, general secretary of the Federation of Austrian Industries (IV), sees the risk of a credit crunch in the year 2012. “It is counterproductive for the banks to increase their equity ratio to 9% within seven months”, he said in an interview with the Austrian newspaper “Wirtschaftsblatt”.

Neumayer said he was opposed to new state aid and that he would…

This article includes a total of 149 words.

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