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Raiffeisen Against Bank Insolvency Act
Published: May 9, 2012; 19:34 · (Vindobona)
The Austrian government announced to introduce a bank insolvency act in summer. Raiffeisen wants a European solution.
Raiffeisen Against Bank Insolvency Act / Picture: © Flickr
After the bail-out of VBAG in March, the Austrian government announced to create a bank insolvency act. The Austrian state had to inject € 1.05bn in the financially stricken VBAG and € 998m in KA Finanz this year.
The State Secretary of Finance Andreas Schieder (SPÖ) explained that the government does not want to wait for a EU-wide solution. The solo attempt was agreed with…
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