Austria starts the Default Once Again? Posted on June 17, 2014 by Adrian Rowles Austria has just cancelled the sovereign guarantee of one of its states -Kärnten- on the outstanding Hypo Alpe Aria Bank debt. The “Minister of Justice” Wolfgang Brandstetter said to the Press: “One could have never believed in the sovereign guarantee…Every bigger investor should have known that a 25 bn € guarantee taken by an annual state budget of 2 bn € can never work …” Source: Posted by Martin Armstrong Share this:Click to share on LinkedIn (Opens in new window)Share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Google+ (Opens in new window)Click to email (Opens in new window)Like this:Like Loading... Related
