In a recent article in the F.T. there was the following quote from Andreas Treichl, Chief Executive of Erste, one of Austria’s largest banking groups. He was commenting on the scandal now emerging in both Germany and Austria about murky dealings of HGAA. It is a rare example of ‘tell it like it is”.
“It’s a bunch of scumbags – in terms of banking and in terms of politics – from Austria, who have [teamed] up with scumbags from central and eastern Europe and a couple of idiots from further west, and out of this came a huge mess”.