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Hypo Group Alpe Adria: Extreme Burden for Austrian State Budget Ahead
Politics ♦
Published: February 7, 2014; 22:23 ♦ (Vindobona)
The bad news about the nationalized Balkan lender do not break up. In 2014, the Austrian problem bank may cause costs in the amount of € 9bn.
Hypo Group Alpe Adria: Extreme Burden for Austrian State Budget Ahead / Picture: © Vindobona.org
In the years between 2000 and 2008, the lender has pursued an aggressive growth strategy in the Balkan region. In order to prevent Hypo Group´s unorderly bankruptcy, the bank was nationalized in 2009 by the Republic of Austria.
In the past four years, the Austrian state has injected € 4.8bn into the problem bank. Nevertheless, the Austrian government still has no sustainable…
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