Hypo Group: Austrian Government Seems Aimless

Politics ♦ Published: December 27, 2013; 22:01 ♦ (Vindobona)

Although the restructuring of the nationalized Austrian lender is one of the most pressing issues, the Austrian government could not present a sound concept yet.

Hypo Group: Austrian Government Seems Aimless / Picture: © Vindobona.org

Already in summer, former Minister of Finance Maria Fekter commented that Hypo Group Alpe Adria is a bottomless pit. In meantime, the government has changed. Michael Spindelegger has replaced Maria Fekter. However, the problems are still the same.

Hypo Group is the biggest financial disaster in Austria´s history. Due to its rapid expansion the Balkan region in the years from…