The financial crisis : a comparison to previous crises and an evaluation of European capitalization schemes for the financial sector specifically focusing on Austria

Abstract

This paper mainly gives an insight on the measures European governments have taken in reaction to the current financial crisis. The paper looks at previous crises and attempts to find similarities and an answer to the causes also by looking closer at theoretical approaches. The subsequent sections study the various governmental supports, thereby mainly focusing on European countries. The final part deals with the situation of Austrian banks, their capitalization levels and resistance to withstand the current economic situation.