The Vienna Initiative

The Vienna Initiative was a plan undertaken in January 2009 by European banks and governments during the height of the financial crisis to control the situation and work towards a joint solution specifically in developing regions of Europe. The initiative was a significant mark in European banking cooperation and convergence. The success here will undoubtedly lead to further cooperation and aim towards a goal of a European macroeconomic policy to avoid any such credit risks in the future.

The Vienna Initiative

The Vienna Initiative was a plan undertaken in January 2009 by European banks and governments during the height of the financial crisis to control the situation and work towards a joint solution specifically in developing regions of Europe. The initiative was a significant mark in European banking cooperation and convergence. The success here will undoubtedly lead to further cooperation and aim towards a goal of a European macroeconomic policy to avoid any such credit risks in the future.