Austria: State Aids for Banks Almost Exhausted

People ♦ Published: March 8, 2014; 17:26 ♦ (Vindobona)

The financial framework for the banking aid for Hypo Group Alpe Adria is almost exhausted. So far the federal state of Austria has spent up to € 6.2bn.

The financial framework for state aids for the banking industry has almost been used up entirely / Picture: ©

In 2008, the extent of the financial framework for the banking aid was determined. Now, the aids for problem bank Hypo Group are almost exhausted and may have to be increased. This was confirmed by the Finance Ministry.

The total amount of €, which was agreed on by the parliament in October 2008 ‑ at the peak of the banking crisis, has almost been completely used up…