Austria: Hypo Gets Additional € 700m From State

Published: March 9, 2013; 12:42 · (Vindobona)

The EU threatens to close down Hypo Group because of the overdue restructuring measures.

Austria: Hypo Gets Additional € 700m From State / Picture: © Hypo Alpe-Adria-Bank International AG

EU Commissioner for Competition, Joaquin Almunia, critisized Austria’s authorities for not being able to finding a final solution or setting up a sensible restructuring plan. Instead, the state has been supporting the bank since 2008. Almunia requested a fast decision on what measures to be taken: either a thorough restructuring of the bank or a systematic closure. This claim comes…

This article includes a total of 275 words.

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