Hypo Group: Shady Deals with Balkan Diplomats

People ♦ Published: May 3, 2014; 11:09 ♦ (Vindobona)

The Austrian problem bank Hypo Group has troubles recovering debts.

Hypo Group was damaged by obsure deals with Balkan diplomats. / Picture: © Vindobona.org

As reported by Austrian daily “Presse”, ailing Austrian bank Hypo Group was used by many individuals for its loose lending conditions. Among the debtors are Balkan diplomats. As pointed out by “Presse“, even if the loans were actually taken out by these so-called “men of honor”, it does not mean that the money was paid back helping fill the finance gap, which now has to be…