„We Can Exclude a Bankruptcy of Hypo Group”

People ♦ Published: November 29, 2013; 14:13 ♦ (Vindobona)

Ewald Nowotny, governor of the Austrian National Bank (OeNB) and Klaus Liebscher, head of Hypo Group´s supervisory board argue that the nationalized bank will be downsized according to plan.

„We Can Exclude a Bankruptcy of Hypo Group” / Picture: © Agenda Austria 2020

“There is no bankruptcy scenario.“ Nowotny explained today. “The Republic of Austria has made a clear arrangement with the European Commission in summer. This is our plan and we will now proceed according to plan. A bankruptcy can be excluded.” As a result, the Hypo Group task force did not submit a bankruptcy scenario to the Austrian government.

Nowotny underlined that…