Article Tools

„Too Many Banks in Austria“

Published: November 28, 2012; 16:12 · (Vindobona)

Hannes Androsch, President of the Austrian bank holding Fimbag, warns that Austria´s exposure in CESEE countries is disproportionately high.

„Too Many Banks in Austria“ / Picture: © AIC / Österreichischer Wirtschaftsverlag

The banking package will involve heavy losses, Androsch says. Although there was no alternative to the banking package, the management proved inefficient, the industrialist and former Finance Minister argues. Austria´s losses will reach several billions, he says.

By contrast, the Austrian Audit Court criticized the banking package itself. The Austrian Audit Court fears that KA…

This article includes a total of 262 words.

or Log In