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OeNB: Developments in the Sovereign Debt Crisis Will Be Crucial for Financial Stability
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Published: December 16, 2011; 13:41 ♦ (Vindobona)
The Austrian National Bank (OeNB) presented the 22nd Financial Stability Report.
OeNB: Developments in the Sovereign Debt Crisis Will Be Crucial for Financial Stability / Picture: © Vindobona.org
The unfolding sovereign debt crisis has had the greatest impact on the stability of the European banking system so far in 2011. The sovereign debt crisis not only raised many banks’ provisioning charges but also contributed to higher volatility in the financial markets, the renewed loss of confidence among banks and the beginning slowdown in cyclical activity. “Despite their…
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