Bankers in New York and London who feel over-regulated, overtaxed and generally unwanted will probably not be considering relocating to Vienna. The Austrian government is also engaged in a series of measures that are detrimental to banks, including special bank taxes and an Austrian finish to the regulations that propose to have banks fully Basel III-compliant by 2013 as well as a SIFI (systemically important financial institution) capital surcharge of up to 3%.
On top of this, the government is earning an 8% return on the participation capital it put into leading banks at the time of the crisis, even though it is questionable as to whether it was really needed in all cases.
