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EU ‘Surprised’ Austria Didn’t Warn on VBAG, Almunia Says
Politics ♦
Published: March 5, 2012; 15:18 ♦ (Vindobona)
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The European Commission was “surprised” Austria didn’t warn it about plans to bail out Oesterreichische Volksbanken AG (VBPS), according to Joaquin Almunia, the region’s commissioner responsible for approving state aid.
EU ‘Surprised’ Austria Didn’t Warn on VBAG, Almunia Says / Picture: © Österreichische Volksbanken-AG (ÖVAG)
“We have been dealing with this bank for quite some time now,” Almunia said in an interview with Bloomberg HT television. “We were a little bit surprised by some new decision that had not been communicated to us before” even though the EU is already probing the legality of the state aid Volksbanken has already received.
Austria is due to become Volksbanken’s…
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