Austrian stocks and banking… is there a crisis? (updated)

17 02 2009

ATX down 9% today… what more is there to say. I put an image here so no one will be able to say at a later point in history that “it was not really all that bad”.

ATX on 17.2.2009

ATX on 17.2.2009

10-year government bonds at a 1.34% spread over the german Bund (Italy 1,56%)  and an article in derStandard.at reports that CDS spreads for Austrian bonds are even above those for Italian ones – and Italy has twice the public debt that Austria has and one or the other structural problem…

Is there anyone out there who would like to come with me and open up a bar in a tropical place where one can watch the sunset (and drink to forget, when needed)? I just don’t feel like going back to a banking-industry job.

Some links:

Manager Magazin (german, very sarcastic)
http://www.manager-magazin.de/unternehmen/artikel/0,2828,604619,00.html

Business Prof explains subprime crisis (english, very funny)
http://www.imd.ch/news/IMD-Professor-Arturo-Bris-simplifies-sub-prime-crisis-in-video-presentation.cfm?bhcp=1

And a very weird one – found it today on a Google search for some Austrian banking law:
http://www.offshore-services.biz/offshore-banking/austrian-bank-account/
(If you need an Austrian bank account, just email me, I will get you a better deal than those guys…)

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