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EU Approves Hypo Group´s Restructuring Plan
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The re-privatization of the Austrian publicly held banking group was approved by the Commission. According to the Commission´s report, Hypo Group´s expansion strategy was highly dangerous.
EU Approves Hypo Group´s Restructuring Plan / Picture: © Wikipedia / JJ55 (30 March 2008)
Austrian Minister of Finance Maria Fekter can celebrate success today. Her restructuring plan for Hypo Group was approved by the Commission. Moreover, the bank aids were approved, the Austrian newspaper “Presse” reports.
Initially, the EU-Commission wanted the sale of the affiliates in Southeastern Europe to be finalized until the end of 2013. However, as Hypo Group´s losses…
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