Post Tagged with: "Austria"
Sovereign debt implications for Netherlands are negative for France and Austria too
Fitch has not been as aggressive as the other two agencies, keeping Austria and France at AAA up until now. As such, its negative comments about the Netherlands are noteworthy and likely signal a harder line by Fitch in the coming months. As a result, we think both Austria and France are likely to come under negative scrutiny by Fitch as well, as we view both as inferior credits to the Netherlands
[Premium] Housing bubbles in Austria and Germany?
Since the Great Financial Crisis began, Austrian house prices have zoomed at a pace well above the rate of inflation and the rate of rentals. The price action and other anecdotes make this sound suspiciously like a bubble. The same has happened in Germany on a lesser scale
Here’s how much Austrian banks are on the sovereign debt hook for
According to Austrian newspaper Der Standard, Austrian banks had 18.1 billion euros of exposure to foreign sovereign debt at the end of October. The debt to which the banks were most exposed were Polish, Italian, German and Hungarian sovereign debt
Refunding Fears Take Toll on Europe
One of the key factors behind the poor sentiment toward the euro, which was pressed to new 13 month lows in Europe today, is the challenge posed by the sovereign and bank refunding needed this year, while rating downgrades loom around the corner. Euro zone sovereigns have an estimated 800 bln euros of debt servicing and spending to fund this year, while the banks have a little bit more
News Links: Euro doomed from start, says Jacques Delors
News links for 4 December
Last Days Of Pompeii?
What is becoming clearer to almost everyone is that this is now no longer simply a Euro periphery sovereign debt crisis. It has become a full blown crisis of confidence in the Euro itself
Credit revulsion has hit Belgium; France and Austria dragged in tow
Look at these charts that Win Thin has crafted on sovereign bond spreads. this is what I want to discuss
Chart of the day: Greatest Credit Deterioration Focus – Belgium, Spanish banking
Here are a few charts from the credit default swaps market based on 5-year CDS. Here’s what I see
Large writedowns at Austrian bank connected to Hungary, Romania and CDS losses
Whether the writedowns make investors feel relieved because of the alleged balance sheet transparency remains to be seen. However, the balance sheet woes at Erste highlights how active banks within the EU are in cross-border relationships
Hungary: Controversial Swiss franc loan law goes into effect
Central European borrowers loaded up on cheap Swiss franc and euro loans (mainly from Austria and Switzerland) in the lead up to the credit crisis because of higher nominal rates in central Europe. When the crisis hit, these loans became expensive overnight. In Hungary, one of the hardest hit due to currency depreciation, the government has legislated a fix that goes into effect today
Austrian government fails in vote to increase euro bailout fund
At issue was the planned increase in the euro rescue fund to 780 billion euros from the present 440 billion
Chart of the Day: European bank funding starting to dry up
Today, it is euro banks that are the problem. For example, Goldman Analyst Alan Brazil suggests that euro banks need $1 trillion in additional capital. This has created distress in funding markets, particularly because of US money market funds concerned about exposure to European banks. And people are looking to track that distress Euro FRA/OIS is one way