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FMA: Hypo Group Bankruptcy Incalculable Risk
Politics ♦
Published: February 10, 2014; 15:20 ♦ (Vindobona)
The government does not dismiss the idea of a bankruptcy of ailing Hypo Alpe Adria. However, the Financial Market Authority (FMA) has expressly warned of this form of downsizing of the state bank.
FMA: Hypo Group Bankruptcy Incalculable Risk / Picture: © Hypo Alpe-Adria-Bank International AG
According to the authority, a bankruptcy was an incalcuable risk. Moreover, because of the liabilities of the province of Carinthia running in the billions the reputation of the Austrian state would be “infected”.
“In any case we should talk about taboos,” Helmut Ettl, CEO of FMA said on Monday. However, he pointed out that the FMA is not an institution which gives…
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