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Hypo Group: Urgent Need for Fresh Money
Politics ♦
Published: November 11, 2013; 08:35 ♦ (Vindobona)
The ailing nationalized bank Austrian Hypo Group Alpe Adria has a capital shortfall of € 1.3bn. The gap must be closed before the end of the year.
Hypo Group: Urgent Need for Fresh Money / Picture: © Vindobona.org
In order to keep the equity quota above 8.0%, the Austrian state has to inject further funds. Until the end of the year, Hypo Group has to cover the capital shortfall amounting to € 1.3bn. Otherwise, the Austrian state would have to inform the ECB immediately. In this case, Hypo Group has to be liquidated within a few months. For the Austrian taxpayers, this would be the most…
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