Austria: Opposition Criticizes Nationalization

People ♦ Published: March 20, 2014; 15:11 ♦ (Vindobona)

On Thursday Finance Minister Michael Spindelegger expects a binding statement by ailing bank Hypo Group Alpe Adria about how much state aid will be required. The opposition heavily criticizes the nationalization by the Austrian state in 2009.

From a legal point of view, the country would not have been responsible for Hypo, according to the opposition. / Picture: © Wikipedia / JJ55 (30 March 2008)

On Thursday, ahead of the committee of the audit court, Spindelegger announced wanting to be prepared for all risks. “Of course I expect figures but I do not have them yet,” Spindelegger said and expects the bank’s management to finally present “valid figures”. The Finance Minister did not talk about the consequences in case the management board misses the deadline but only…

or Log In

Fast News Search
Related News
Hypo Group Expected to Publish Figures This Week (March 19, 2014)
BayernLB: “We Were Brazenly Betrayed by Austria" (March 18, 2014)
Hypo Group: Government Explains Downsizing Solution (March 18, 2014)
Austria: Spindelegger Puts Pressure on BayernLB (March 17, 2014)
Austria: “Taxpayers Have to Bleed for Hypo Group“ (March 7, 2014)
Read More
Germany, BayernLB, Hypo Group Alpe Adria, Leaders, Werner Kogler, Western Balkans, SEE, Rainer Hable, Nationalization, Privatizations, Bankruptcy, Insolvencies
Featured
Coronavirus in Lower Austria: Update
See latest Vindobona Newsletter