Austrian central bank rules out Hypo insolvency

Newswire

VIENNA, Nov 29 (Reuters) - Austrian National Bank Governor Ewald Nowotny has ruled out letting nationalised lender Hypo Alpe Adria go bust, he told the Austria Press Agency on Friday. "Austria reached a clear agreement with the European Commission this summer on restructuring Hypo Alpe Adria. We are now proceeding according to this concept. A Hypo bankruptcy is out of the question," APA quoted him as saying. Newspaper Der Standard had earlier reported that ...

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