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Why Austrian bankers care about Romania

Autor: Voican Razvan

30.11.2010, 09:23 27

Austria has the highest banking exposure to Romania by far,followed by Greece, with France and Italy far behind.

Romania is the second biggest market in the world as far asAustrian banks are concerned, whose local exposure stands at almost30 billion euros, which explains why the keen interest of bankersin Vienna for what goes on in Bucharest.
With the financial turmoil in Europe, the weight of the exposure ofthe banks of a specific country to foreign economies with variousvulnerability levels becomes even more important, asinterconnection of money flows comes with mutual risks: if Romaniadoes not come out of the crisis, this would cause trouble for theAustrian banking system.
Exposure to Romania accounts for more than 10% of Austria's GDP,and at the same time for almost 8% of the total loans granted byAustrian bankers abroad that stand at some 390 billion euros,according to the data processed by the Bank for InternationalSettlements.
The banking system in Greece, already affected by the localproblems, has an almost 17 billion-euro exposure to Romania, whileFrance, through the second biggest bank on the market, BRD, has alocal exposure of only 12 billion euros. The exposure of Italy,operating on this market though UniCredit and Intesa Sanpaolo,amounts to less than 10 billion euros. In all, European banks'exposure stands at about 80 billion euros in Romania.

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