Austria: Spindelegger under Attack

People ♦ Published: February 24, 2014; 10:02 ♦ (Vindobona)

Finance Minister Spindelegger is under attack by former head of Hypo Group’s task force, Liebscher.

Austria: Spindelegger under Attack / Picture: © Flickr / The Austrian Foreign Ministry

In his letter of resignation, Klaus Liebscher, former head of Hypo Group’s task force, heavily criticized the Austrian government’s decision in regard to the problem bank’s downsizing. According to Liebscher, who addresses Finance Minister Michael Spindelegger, deciding on a downsizing option for nationalized Hypo Group Alpe Adria and not ruling out insolvency of the bank at the…