Wednesday, 19. June 2013 - 07:06
:: Home > Business > Call to bring Austrian gold back home from the UK
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 27 | 28 | 29 | 30 | 31 | 1 | 2 |
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 17 | 18 | 19 | 20 | 21 | 22 | 23 |
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
Today
Videos
Polls
RSS Feed Business22. 11. 12. - 13:00
Call to bring Austrian gold back home from the UK
There is heated debate in Austria after it was revealed that the country's National bank (OeNB) is storing its gold reserves in England.
In response to a parliamentary question the bank said that 224. 4 tonnes (around 80%) of Austrian gold reserves were in the United Kingdom, around 6.9 tonnes (around 3%) are in Switzerland and around 48.7 tonnes (around 17%) are in Austria itself.
The OeNB said that the reason to store gold abroad was that because in a time of crisis it could be speedily traded. Since 2007 Austria's National bank had had a constant reserve of around 280 tons of gold. Through leasing of its gold the Austrian National Bank has in the last 10 years earned around 300,000,000 euros.
The bank's governor Wolfgang Duchatczek revealed the statistics after a question by social Democrat MP Matznetter who wanted to know why Great Britain was regarded as the best place to store Austrian gold .
Duchatczek said: "The bank has always made it clear that our gold reserves are stored at the main gold trading centres."
Currently that would be London and Switzerland - specifically Basel, he said. The gold that the bank has in Austria itself is stored at the Austrian Mint in Vienna.
Vienna Times
Tag cloud:
Matznetter Currently National governor gold Austria OeNB bank Britain tonnes stored Mint Austrian Duchatczek reserves Democrat statistics social Vienna Switzerland
Elton John - Vienna concert tonight
Elton John is performing at the Stadthalle this evening.
Bathing ban remains on Donauinsel
Swimmers looking to escape the heat wave have been warned to avoid the Donauinsel because of possible infection.
Emergency doctors and security at the Donauinselfest
Security and emergency services will be working around the clock at the 30th Donauinselfest in Vienna this weekend as 200 acts take to the stage.
Better road security for the elderly
A two-day conference on "mobility and road safety in an ageing society" which kicks off tomorrow at the Palais Ferstel (Vienna) will look for measures to improve the security of road users over 60 years of age.
Better road security for the elderly
A two-day conference on "mobility and road safety in an ageing society" which kicks off tomorrow at the Palais Ferstel (Vienna) will look for measures to improve the security of road users over 60 years of age.
Heat causes damage to the West motorway
High temperatures have caused damage to the A1 "Westautobahn" motorway from Lower-Austria to Vienna.
Red Light Process starts again in Vienna
The so-called "Red Light Process" is being continued in the regional court in Vienna today.
Gay pride in the sunshine
More than 150,000 people took part in the 18th edition of the Vienna gay pride parade this weekend.
Registration for Vienna Childrens Uni now open
The children’s university (Kinderuni Wien) from July 8 to 20 will offer a variety of seminars, presentations and workshops.
Father saves his son from pool
A three-year-old who almost drowned in a pool accident in Waidhofen an der Thaya (Lower-Austria) was narrowly saved by his father.
The most popular stories –
last 7 days
