Austria’s finance ministry said its $139 billion stimulus package was sufficient, denying a newspaper’s report that it wasn’t, the Guardian reports. A spokesman, however, said the ministry did expect some banks to ask for $20 billion in cash injections.
Risk in Austrian banks is widely spread and most banks are retail banks with high levels of primary funding from customers. This means they finance loans from deposits and not on the basis of interbank financing.
- iShares MSCI Austria (EWO): up 21.7% year to date.
For more information on Austria, visit our Austria category.
Max Chen contributed to this article.