Pressure on Hungary Increases

People ♦ Published: January 11, 2012; 18:23 ♦ (Vindobona)

The chairman of the Austrian Central Bank, Ewald Nowotny, sees no danger for Austrian banks from Hungary. EU and IMF criticize the Hungarian government.

Pressure on Hungary Increases / Picture: ©

European Central Bank policymaker Ewald Nowotny has said that the Austrian banks are not in danger due to exposure to Hungary. In a radio interview given to the public broadcaster ORF, Nowotny, who heads the Austrian central bank, said 'our engagement is around € 30bn, including purchases of government bonds.' Though situation in Hungary posed a challenge, there would be no danger to…