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Austria: Carinthia Reluctant to Pay for Hypo Group

Published: April 4, 2014; 17:32 · (Vindobona)

The Austrian province of Carinthia rejects contributing to the downsizing costs of nationalized Hypo Group. Finance Minister Spindelegger insists on € 500m and threatens with sanctions.

Finance Minister Spindelegger insists on Carinthia's contribution to the downsizing of problem bank Hypo Group. / Picture: © Vindobona.org

The dispute between the Austrian federation and the province of Carinthia with regard to the downsizing costs of problem bank Hypo Group Alpe Adria continues. Finance Minister Michael Spindelegger considers the amount of € 500m not negotiable and even takes into account sanctions, as reported by “Kleine Zeitung” (Friday issue). However, Peter Kaiser, provincial governor of…

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