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Austria: Enormous Amounts Could Pile Up For Hypo Group

Published: September 11, 2013; 21:10 · (Vindobona)

According to Austrian daily “Standard“, the winding down of the ailing bank Hypo could be even more expensive than assumed so far. The amount of required capital reanges between € 6.2bn (until the end of 2014) and € 17bn (until 2017).

Austria: Enormous Amounts Could Pile Up For Hypo Group / Picture: © Wikipedia / JJ55 (30 March 2008)

The Austrian National Bank (OeNB) has carried out a new evaluation. In a worst case the nationalized bank could need further € 17bn apart from the estimated € 16bn, which has so far been considered the worst-case scenario. According to the report the probability this scenario could occur is at 40 percent. Therefore, the state of Austria would have to come up with € 8.5 bn this…

This article includes a total of 174 words.

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