Vienna

First Blood Spills in Austrian Banking Meltdown: Raiffeisen Withdraws 'Capital Note' Offer

Sorry1,3 trillion. In Austria our billion is your trillion (after million we wave milliarden, which has caused some confusion before)

First Blood Spills in Austrian Banking Meltdown: Raiffeisen Withdraws 'Capital Note' Offer

It may effect other countries banking systems by emotions.
Austria is considered to be the gateway to CEE, through history. A recent article (which I cannot find any more) stated there where 1,3 billion on open obligations in CEE spread through many European, US banks. Well if the Raiffeisen gets into serious trouble there, there might be a run on CEE bank and obligations.
I work in CEE and the deterioration there is speeding up very heaviliy.

FYI: In Dezember 2008 the Slovakian prime minister still publicly stated that there is no crisis on Slovakia, and business was actually doing quite well. There was a lag in this, and it is hitting very hard now.

Houses and lining costs where way beyond avarage rating in comparison to avarage income. It was build upon futur hope and credit.

EU Politics: Only Rookies Have No Plan 'B'

So be it: The only thing we do not need is a goverment telling us constantly what to do, it's the same thing as in the states, constant threat that something will harm us, we do that to ourselfs the best.

Who is the government that they constantly need to make new rules and tell us what to do. If I want to get drunk and smoke thats my deal. And I will probably doing society a favour, since I don't require that much prension.

And that is the problem with the EU. I live in Austria as well, and the general notion is the same as with France and Irland; screw the EU for needing to dictate their lobbyist rules down to us.

There is a commen saying, we are getting more and more americanised by the year.

55 million adults are estimated to drink at harmful levels in the EU (more than 40g of alcohol i.e. 4 drinks a day for men and over 20g i.e. 2 drinks a day by women). Drinking more than this is known to carry a health risk
Harmful alcohol consumption is estimated to be responsible for approximately 195,000 deaths a year in the EU, due to e.g. accidents, liver disease, cancers etc.
Harmful alcohol use is the 3rd biggest cause of early death and illness in the EU, behind tobacco and high blood pressure.
More than 1 in 4 traffic accident deaths on EU roads is caused by drink-driving (approximately 10,000 per year)
More than 1 out of every 4 deaths among young men (aged 15-29 years) in the EU is due to alcohol (often caused by road traffic accidents, homicide, violence etc) and 1 in every 10 deaths among young women.

Europe's Worsening Economic Disaster

Correct, we do feel the decline here, but due to the fact that we did not have a major housing bubble or too much debt, we have some ressources the individuall can still really on. No major devaluations on housing (yet), not that high monthly payments, so we don't really see the crisis on an individual level. This might also be due to the security network that has been effectivly implemented within the last 50 years.
I think we will manage very well using our own proven structures, and hopefully not rely on US suggestions how to get out of this.

On May 17 06:59 AM Dave Wrixon wrote:

> Yes, but who actually believes the US data anyway?