Banks begin great financial retrenchment
Changing of the guard
No region is suffering more from the retrenchment in cross-border capital flows than central and eastern Europe. And no country’s banking system is more exposed to the region than Austria. These banks’ collective exposure amounts to 70% of Austria’s GDP.
Still, anyone expecting the Austrians to start beating a retreat has been disappointed. "We have never considered and have no intention of exiting any...
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