EU Puts Limit to State Aids for Hypo Group

People ♦ Published: February 14, 2014; 17:02 ♦ (Vindobona)

So far, € 4.8bn in capital aids had to be injected into ailing bank Hypo Group Alpe Adria. According to an EU statement, the Austrian state is only permitted to spend € 3.65bn on Hypo Group.

EU Puts Limit to State Aids for Hypo Group / Picture: © Hypo Alpe-Adria-Bank International AG

In case the amount for Hypo, which was nationalized in 2009, will be exceeded the authorities in Brussels have to be notified. According to experts at the Finance Ministry, it was crucial that the approved amount of state aid will not be surpassed.

At the beginning of September last year the EU Commission gave green light to all state aids injected into Hypo Group until the year…