Spindelegger: Taxpayers Should Not Carry Whole Load

People ♦ Published: February 20, 2014; 20:35 ♦ (Vindobona)

Finance Minister Spindelegger declared himself in favor of a haircut of creditors of problem bank Hypo Group.

Spindelegger: Taxpayers Should Not Carry Whole Load / Picture: © Flickr / The Austrian Foreign Ministry

Finance Minister Michael Spindelegger has now declared himself in favor of a haircut of bondholders and investors in the downsizing costs in spite of Klaus Liebscher’s, head of Hypo Group’s task force, warnings. According to Spindelegger, the decision to let investors participate was a political question. “This exceeds the possibilities of a task force,” he told “Puls 4” in…

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Leaders, Michael Spindelegger, Banking Industry, Hypo Group Alpe Adria, BayernLB, Klaus Liebscher, Downsizing, Bankruptcy, Taxation, Fiscal Policy
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