Author: Rupert Wright
Austria has always prided itself on being the doorway to central Europe, dating back to the days of the former Soviet Union. Its bankers were able to structure deals in the region using a variety of techniques including countertrade and forfaiting. If you wanted to exchange old computer parts for Zetor tractors or tins of bottled fruit, you went through Vienna.
Now Germany’s second biggest bank, HypoVereinsbank, is storming through the doorway and buying Austria’s biggest banking group.
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