Austrian government guarantees safety for all bank savings
Chanecellor Gusenbauer promised in the course of international financial crises the unlimited safety for savings at Austrian banks. The new law is retroacting valid since 1st October.
If it’s necessary the government holds out a nationalized responsibility for banks as well. Banks which have surplus liquidity should dispose their financial means in a clearing station of the Austrian control bank to help other banks, says financial minister Wilhelm Molterer.
Austrian banks are not in danger, is the conventional wisdom. All those new decisions are just arrangements to guarantee cover and protection. The government has also banned short selling from Austrias stock exchange market.
Faymann and Gusenbauer are trying to calm down Austrias population. “Everything is in control. Our banks are solid. Austria is in a very good situation. Nobody in Austria has to fear about his bank savings”, they say.