Stable PIGS-Exposure of Austrian Banks

Businessn.a. ♦ Published: June 6, 2011; 18:59 ♦ (Vindobona)

The last quarter of 2010 has brought only minor changes in the total amount of lending to the four countries in southern Europe by Austrian banks.

Stable PIGS-Exposure of Austrian Banks / Picture: ©

The latest statistics of the Bank for International Settlements (BIS) show that Austrian banks have slightly reduced their exposure to the PIGS-states (Portugal, Italy, Greece and Spain) during the final quarter of the last year; large movements have not been registered.

By the end of December 2010, Greek debt (sovereign and private) amounted to $ 3.35bn in the Austrian banks’…