Except for that little dust up starting in 1938, the last time something in Austria fell, it started a World War. Fitch Ratings joined S&P and Moody’s in downgrading Hungary’s sovereign debt to junk level. Hungary rejected all bids at an auction of 12-month Treasury bills worth 40 billion forint ($186 million) after getting bids for only 22.8 billion forint. However, the concern is not for Hungary, but for neighboring Austria whose banks have a $226 billion exposure to the debt of former Soviet bloc countries. If Austrian banks fail, then… So it begins.
Nov 15 2011
Google Search TermsNobody landed on this page from a search engine, yet!
Tag cloudmortgages Obama dilbert debt ratios stimulus Occupy Wall Street gm humor lordstown ohio refinancing youtube auto reform Buckingham manufacturer medicine Senate stock White house democracy Answered with a question Amtrak Cars banks bank bailout protester oil general motors Economy harp recovery debt option arms china production off topic dogbert auto manufacturer money wages Ford high speed rail Recession Great Britain transit