Austrian Government Desperate to Sell Hypo Group

Politics ♦ Published: May 16, 2013; 11:19 ♦ (Vindobona)

Without an agreement for a new plan and without more time for the selling of the Eastern affiliates, the crisis-struck banking institute Hypo Alpe Adria Group will not be able to make up the balances anymore, according to Austrian newspaper Presse.

Austrian Government Desperate to Sell Hypo Group / Picture: © Wikipedia / JJ55 (30 March 2008)

In case of a selling of the CESEE banks until 2014 at the latest, and in case the establishing of a bad bank was postponed to after the elections in autumn, Hypo would have to write off CESEE participations due to a lack of positive continuance prognosis. The bank would therefore need a further amount of € 2.5bn in support by the owner, the Austrian state as early as June.…