Austria Rejects Bank Bonds Backed by Rescued Euro Members
By Jana Randow and Zoe Schneeweiss - Apr 4, 2012 8:48 AM CT
The Austrian Central Bank will join Germany’s Bundesbank in rejecting as collateral bank bonds guaranteed by member states receiving aid from the European Union and the International Monetary Fund.
“We will do that as well,” Christian Gutlederer, a spokesman for the Vienna-based institution, said by phone today. “We are talking about minimal amounts. It will have very little impact on overall collateral.”
Trevor wrote:I've noticed the people that are hurt the most during a major recessions, such as the one in the 1980's, are the people who are just starting to enter the labor force. That's 2-3 years you can never get back and it'll affect you, since if you're 21-22 and you can't get a job, employers will be less likely to hire you. That was also just when the first members of Generation X were entering the work force.
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