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 the government's top lawyer favours sending the bank into insolvency rather than stay on a steady drip of taxpayer funds.
(Reporting by Michael Shields)