Sources say Austria's central bank put the country's top cooperative bank and No. 4 bank,...

|By:, SA News Editor
Sources say Austria's central bank put the country's top cooperative bank and No. 4 bank, Oesterreichische Volksbanken, on a watchlist and told it to find a new strategy. The report fuelled concerns that European banks are in a fragile state, sending the euro to a 2.5-month low. A bank spokesman called the report inaccurate, and said the bank is at no risk of nationalization.