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Austrian Government Does Not Rule Out Hypo Group´s Bankruptcy Anymore (2/2)

Published: February 4, 2014; 17:24 · (Vindobona)

In the past few weeks, the Austrian government and the Austrian National Bank excluded this alternative categorically. Now, the bankruptcy scenario seems to be an option again.

Austrian Government Does Not Rule Out Hypo Group´s Bankruptcy Anymore (2/2) / Picture: © Wikipedia / JJ55 (30 March 2008)

For Austrian taxpayers, an insolvency proceeding would be more favorable than the state-backed or joint bad bank. Above all, the former owner BayernLB would have to accept a haircut, insiders say. At the moment, BayernLB still has a loan of € 2.3bn in its books. Moreover, BayernLB has withdrawn funds in the amount of € 2.0bn just a few weeks before the sale. According to experts, an…

This article includes a total of 441 words.

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