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Austria: Faymann Proposes Extension of Bank Levy

Published: May 27, 2013; 15:45 · (Vindobona)

Not only the federation and taxpayers should avow for the losses at Hypo Group. This week the restructuring plan has to be handed to the EU Commission.

Austria: Faymann Proposes Extension of Bank Levy / Picture: © Flickr / Werner Faymann, Thomas Jantzen

Finance Minister Maria Fekter has to present the restructuring plan of crisis-struck Hypo Group, which has been living off state funds for the past five years, to EU Competition Commissioner Joaquin Almunia this week.

Two billions of tax money has so far been necessary for the saving of Hypo Group; furthermore € 1bn last year. This year, around € 1.5bn will probably be…

This article includes a total of 428 words.

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