Austrian Opposition party Neos has called on the EU to investigate whether UniCredit's Bank Austria unit would be benefitting from illegal state aid if it was allowed to shift thousands of employees into the state pension system. Neos argues that with Austria considering changing a law to allow the bank to transfer 3,300 workers from its own private pension system to a public one would shift the bill from the bank to taxpayers. (Reporting by Kirsti Knolle; Editing by Mark Potter) The European Commission is investigating whether Austria's state-owned banks are benefiting financially from their role as guarantors for the country's €315 billion ($350 billion) national debt.
Austrian Opposition party Neos has called on the EU to investigate whether UniCredit's Bank Austria unit would be benefitting from illegal state aid if it was allowed to shift thousands of employees into the state pension system. Neos argues that with Austria considering changing a law to allow the bank to transfer 3,300 workers from its own private pension system to a public one would shift the bill from the bank to taxpayers. The European Commission is investigating whether Austria's state-owned banks are benefiting financially from their role as guarantors for the country's €315 billion ($350 billion) national debt.