Austria: Who Will Pay for Hypo Group?

People ♦ Published: March 13, 2014; 09:44 ♦ (Vindobona)

In the dispute around who is to pay for problem bank Hypo Group Alpe Adria Chancellor Werner Faymann intends to negotiate with the Austrian provinces about a contribution to the bank levy.

Chancellor Faymann wants the Austrian provinces to contribute to the downsizing costs of Hypo Group. / Picture: © Wikipedia / JJ55 (30 March 2008)

However, the provincial governors of both coalition parties (ÖVP and SPÖ) have strictly rejected this idea. “There are going to be negotiations,” Faymann, who is backed by Finance Minister Michael Spindelegger, emphasized on Wednesday after the National Assembley. “Our arguments are good,” he said.

Last year the banks paid a total of € 587.7m in stability fee.…

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