Nowotny Wants Bank License for ESM

More+Comment ♦ Published: July 26, 2012; 15:25 ♦ (Vindobona)

The governor of OeNB (Austrian Central Bank) Ewald Nowotny told the news agency Bloomberg that there would be some good reasons for this solution.

Nowotny Wants Bank License for ESM / Picture: © Wikipedia / Christian Wirth (Wirthi)

„But there are other arguments, I think this is an ongoing discussion.“ Nowotny said. At the moment, the Council oft the European Central Bank does not specifically debate on this proposal. At last, ECB recejected granting a license to the ESM. This would allow ESM to refinance at ECB.

Austria´s guarantees will amount to € 17.3bn. Furthermore, Austria´s contributions in…