Hypo Group Insolvency to Cost € 10bn at Least

People ♦ Published: February 26, 2014; 14:11 ♦ (Vindobona)

Taxpayers in Austria would be burdened with at least € 10bn if Hypo Group was sent into insolvency.

Hypo Group Insolvency to Cost € 10bn at Least / Picture: © Wikipedia / JJ55 (30 March 2008)

This is the result of three independent calculations: by Hypo Group Alpe Adria itself as well as by Austrian and international experts, according to a source in knowledge of the figures, as reported by Austrian Press Agency APA.

However, in case non-performing loans were transferred to a downsizing unit (bad bank), the costs would come at € 4bn, as announced by CEO of Hypo…

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