A Black Swan Lands In Southern Austria: The Ripple Effects Of “Mini-Greece Going Off In The Heartland Of Europe”

Sunday, March 8, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
03/08/2015

Austria’s decision to wind down Heta Asset Resolution AG sent ripples through the financial system, causing credit rating downgrades in Austria and bank losses in Germany: “It’s a mini-Greece going off in the heartlands of Europe.” Here are some of the consequences, and delightful ironies, of a completely unexpected black swan landing in the south of Austria.

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