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Austria: Fekter Demands “More Intelligent Model“ for Hypo

People ♦ Published: September 17, 2013; 17:23 ♦ (Vindobona)

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Finance Minister Fekter plans on introducing a “more creative model“ than a bad bank.

Austria: Fekter Demands “More Intelligent Model“ for Hypo / Picture: © Wikipedia / World Economic Forum (Heinz Tesarek)

The creating of a bad bank for Kommunalkredit was, according to Finance Minister Maria Fekter, not as successful as she had hoped for. “We were not able to sell Kommunalkredit easier just because of this,” she said. According to her a “more intelligent model” for the unsaleable parts of Hypo will be introduced soon.

Finance Minister Fekter has spoken out against a…