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mk · 3595 days ago · link · · parent · post: Jeremy Warner: Austria is fast becoming Europe's latest debt nightmare
Looking back into the article this one links, it looks like the bank in question was Hypo Group Alpe Adria which Austria nationalized in 2009. I guess the Austrian government is saying that it's Carinthian's problem, -their own little Greece.“We are at a very delicate phase when Europe’s banking system switches from a bail-out regime into a much tougher bail-in regime, and Austria has just thrown this into sharp relief,” said sovereign bond strategist Nicholas Spiro. The biggest bondholders are Deutsche Bank’s DWS Investment, Pimco, Kepler-Fonds and BlackRock. The World Bank also owns €150m of Hypo debt.