WIFO: „Shut Down Hypo Group“

Politics ♦ Published: December 27, 2012; 19:25 ♦ (Vindobona)

The Austrian Institute of Economic Research (WIFO) recommends closing the nationalized banking group. The number of banks is expected to shrink radically.

WIFO: „Shut Down Hypo Group“ / Picture: © Wikipedia / JJ55 (30 March 2008)

The Austrian economist Franz Hahn does not think that Hypo Group will ever develop a profitable business model. Hahn underlines that the nationalized banking group should be shut down. According to him, the banking crisis is not over yet.

In 2009, the banking group was nationalized. Since then, Hypo Group´s total assets were reduced by € 7.0bn. However, the sale of Hypo…