Faymann: “Banks Should Pay for Hypo”

People ♦ Published: September 5, 2013; 10:00 ♦ (Vindobona)

Austrian Chancellor Werner Faymann does not consider a new austerity package necessary despite of the threatening billions of Euros for the selling and winding-up of the ailing bank.

Faymann: “Banks Should Pay for Hypo” / Picture: © Flickr / Werner Faymann, Thomas Jantzen

Chancellor Faymann seems to have found a method how to wind up Hypo Group without straining the state budget too much: Instead of the taxpayers, banks should bear the expenses. Both Chancellor Faymann and Deputy Chancellor Michael Spindelegger announced this decision a few days ago before the start of the intense election campaigns. Both have demanded a “greater participation of…