Sponsored Content

Austria: Hypo Group Dilemma Requires Highest Form of Diplomancy

People ♦ Published: May 10, 2013; 15:46 ♦ (Vindobona)

Sponsored Content

Before the deadline of handing in the new restructuring paper, talks with the top of EU Commission are supposed to take place with Austrian politicians.

Austria: Hypo Group Dilemma Requires Highest Form of Diplomancy / Picture: © Hypo Alpe-Adria-Bank International AG

After EU Commissioner for Competition Joaquin Almunia has fixed the last date for handing in a restructuring and winding-down plan for crisis-struck Austrian bank Hypo Alpe Adria Group on May 31, the most supreme diplomacy is now necessary. According to well-informed circles, negotiations between Chancellor Werner Faymann and the top of the EU Commission are forthcoming. Governor of the…