Hypo Group: Further State Aid Necessary This Year

People ♦ Published: March 10, 2014; 11:58 ♦ (Vindobona)

Finance Minister Spindelegger fears that nationalized problem bank Hypo Group Alpe Adria will require further state aids for its downsizing still within this year.

Further capital injections for Hypo Group are menacing. / Picture: © Vindobona.org

The Austrian state debts will increase by € 17.8bn to a total of € 256.8bn while the Maastricht deficit will increase by 1.2 percentage points. Today, Finance Minister Spindelegger announced that the balance sheet total of Hypo and the political decision about Hypo Group will be determined by the end of March. He admitted being “shocked” that the problem bank will in all…