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Austria: Task Force for Hypo Group

Published: May 8, 2013; 11:07 · (Vindobona)

The Austrian government is going to establish a task force for the nationalized by force problem bank Hypo Alpe Adria Group.

Austria: Task Force for Hypo Group / Picture: © Hypo Alpe-Adria-Bank International AG

Part of the crisis management team is the financial authority market, the Austrian National Bank (OeNB) and the administrative body of banks’ state bonds Fimbag. Reason for this measure is pressure from Brussels. The EU Commission demands the selling of Hypo’s operative bank units or the shutting-down of the banking institute until the end of 2013. On Wednesday an expert panel is…

This article includes a total of 289 words.

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