Reuters: Bankruptcy News: Austrian finmin opposes "bad bank" for Hypo Alpe Adria

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Austrian finmin opposes "bad bank" for Hypo Alpe Adria Jun 12th 2013, 07:49 VIENNA, June 12 | Wed Jun 12, 2013 3:49am EDT VIENNA, June 12 (Reuters) - Austrian Finance Minister Maria Fekter rejected on Wednesday calls to create a "bad bank" for nationalised lender Hypo Alpe Adria, saying she was confident she could instead get more time from the European Commission for an orderly wind-down. In a parliamentary debate, she rebuffed Greens party deputy leader Werner Kogler's appeal to set up a bad bank that could absorb toxic assets from the bank and foster a sale of its operating units, as Brussels has demanded by the end of 2013. "What Mr Kogler wants means carving all the loss-making parts out of the bank and saddling taxpayers with this. This is maximising losses for taxpayers. It is also not the most creative solution," Fekter said. Fekter has resisted mounting pressure to agree to a bad bank, which would hit state finances before national elections due by late September. (Reporting by Michael Shields; Editing by Toby Chopra)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions