Hypo Alpe CEO Resigns as Austria Readies Further Aid The chief executive officer of Hypo Alpe-Adria-Bank International AG resigned after the nationalized lender warned of losses caused by concessions Austria proposed to win European Union approval for state aid.
July 2, 2013 - Bloomberg
Austria Faces Capital Needs Caused by New Hypo Alpe Plan Austria filed a new proposal to gain European Union approval for about 2.2 billion euros ($2.9 billion) in state aid for Hypo Alpe-Adria-Bank International AG by accelerating disposals and halting some new business.
July 1, 2013 - Bloomberg
Hypo Alpe Said to Require as Much as $2.6 Billion Extra Capital Hypo Alpe-Adria-Bank International AG, the nationalized Austrian lender, may need as much as 2 billion euros ($2.6 billion) in extra capital due to concessions Austria will make to win state aid approval from the European Union.
June 28, 2013 - Bloomberg
Angela Merkel in Independent We will not allow the problems of one financial institution to affect the entire system. For that reason we are working hard to secure Hypo Real Estate,said Ms Merkel. "We are saying to all savings account holders that your deposits are...
Peer Steinbrueck in International Herald Tribune We must now try - beyond a single solution at Hypo Real Estate - to stretch a shield across Germany as a whole, so we do not stagger from one case to the next,Steinbrueck said on Deutschlandfunk radio.
Horst Seehofer in Forbes Seehofer confirmed in a news conference in Munich that he talked to Trichet and Weber about Hypo, and reiterated their argument: "A (hypo) insolvency would have had severe consequences for the euro zone banking sector."