Austria starts the Default Once Again?

INTERVIEW MIT JUSTIZMINISTER WOLFGANG BRANDSTETTER

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

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