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Hypo Group´s Bankruptcy: Major Threat for Raiffeisen Sector
Politics ♦
Published: December 19, 2013; 11:58 ♦ (Vindobona)
In case of Hypo Group Alpe Adria´s bankruptcy, the Austrian banking sector would have to absorb enormous write-offs. Above all, mortgage institutions in the Raiffeisen sector would be endangered.
Hypo Group´s Bankruptcy: Major Threat for Raiffeisen Sector / Picture: © Vindobona.org
At the moment, the future of the nationalized lender Hypo Group Alpe Adria is still uncertain. The Austrian Federal Financial Agency (Finanzprokuratur) favors a bankruptcy scenario. The Federal Financial Agency is said to argue that this is the least expensive alternative. According to a study carried out by the business adviser Oliver Wyman, the Federation of Austria would save costs…
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