Rivals will not support "bad bank" in Austria

[BoyRacer]

Austrian rivals baulk at supporting Hypo Alpe Adria “bad bank” - → reuters.com/article/2013/05/ … 8Y20130515

May 15 (Reuters) - Austria’s banks are giving a thumbs down to supporting the creation of a “bad bank” for Hypo Alpe Adria to relieve pressure on state finances from the nationalised lender.
Hypo Alpe Adria, rescued from collapse by the state in 2009, has already swallowed more than 2 billion euros ($2.6 billion) in government aid.

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Austria’s Erste Joins UniCredit in Snubbing Bad Bank Plan - → bloomberg.com/news/2013-05-1 … -plan.html

Austria’s two largest lenders signaled they’re opposed to supporting a “bad bank” for unprofitable assets of nationalized lender Hypo Alpe-Adria-Bank International AG.
Erste Group Bank AG (EBS), the nation’s biggest lender, and UniCredit Bank Austria AG, the Italian-owned No. 2, ruled out participating in a deal in which they would co-own Hypo Alpe’s wind-down unit to support the nation’s banking industry. Raiffeisen Bank International AG (RBI) and Bawag PSK Bank AG declined to comment because they haven’t seen a proposal.

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