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„There´s no Crisis in Eastern Europe“

Politics ♦ Published: June 8, 2012; 12:59 ♦ (Vindobona)

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Austrian economists and bankers do not comprehend the downgrade by Moody´s. The risk in Eastern Europe would be more differentiated, OeNB´s governor Nowotny said.

„There´s no Crisis in Eastern Europe“ / Picture: © Moody's Investors Service, Inc. - Annual Report 2013

This week, Moody´s made a re-evaluation of Austrian banks. Due to their „low equity quotas“ and the business in Eastern Europe, Moody´s downgrades the three biggest Austrian lenders Erste Group, RBI and UniCredit´s subsidiary Bank Austria. Erste Group fell by two notches, RBI and Bank Austria were downgraded by one notch.

The downgrade of the creditworthiness would reflect…