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Pressure on Hungary Increases
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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.

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…
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