E.U. Mulls Legality Of BAWAG Bailout
BAWAG is the fifth-largest bank in Austria. After a string of scandals hit the bank both in Europe and abroad, BAWAG fell into disarray—customers, fearing that BAWAG would soon be insolvent, began withdrawing their savings, further destabilizing the bank.
The government came to the rescue, offering up to €900 million in bad credit, contingent liabilities and...
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