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Austria: Hypo Group Reason for Major Budget Gap

Published: November 11, 2013; 16:57 · (Vindobona)

The ailing bank is a major cause for the massive Austrian budget deficit increase. According to reports, up to € 1.3bn will be required even this year.

Austria: Hypo Group Reason for Major Budget Gap / Picture: © Hypo Alpe-Adria-Bank International AG

This week details about the outrageous amount will be made known after rumors had it that up to € 40bn are lacking. According to reports, an amount of € 38bn is missing in the planned budget until the year 2018. In November, the ailing bank Hypo Group Alpe Adria will require € 1bn on top of the capital aid of € 700m granted a few months ago.

Negotiations about the method…

This article includes a total of 217 words.

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