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Austria: Hypo Group in “Crisis Mode“

Published: August 28, 2013; 11:11 · (Vindobona)

According to Austrian daily “Standard“, there are daily reports about Hypo Group being forwarded to the Austrian National Bank (OeNB).

Austria: Hypo Group in “Crisis Mode“ / Picture: © Wikipedia / JJ55 (30 March 2008)

Losses of nationalized Hypo Group amount to more than € 800m. Standard reports about “acrobatic stunts” being able to create a balance sheet at all. Apparently the capital injection by the state in the amount of € 700m will suffice – until the time after the elections – to meet the capital requirements. Since a signiture by the office of the federal Chancellor is still…

This article includes a total of 239 words.

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