A disorderly descent

Major analysis feature of a banking scandal involving Hypo Group Alpe Adria in Austria and BayernLB in Germany, 2009/10. The crisis has led to a criminal investigation, turned the case of HGAA into one of Europe's most politically charged financial debacles of recent years and cast further harsh light on the weaknesses of Germany's public banking system.

ESO: Background information: Austria rescues HGAA to avoid run on funds http://www.europeansources.info/record/austria-rescues-hgaa-to-avoid-run-on-funds/

ESO: Background information: Press Release: State aid: Commission opens in-depth investigation into aid package for German Landesbank BayernLB and its Austrian subsidiary Hypo Group Alpe Adria http://www.europeansources.info/record/press-release-state-aid-commission-opens-in-depth-investigation-into-aid-package-for-german-landesbank-bayernlb-and-its-austrian-subsidiary-hypo-group-alpe-adria/

ESO: Background information: State aid: Commission temporarily approves rescue of BayernLB's Austrian subsidiary Hypo Group Alpe Adria and extends in-depth investigation http://www.europeansources.info/record/press-release-state-aid-commission-temporarily-approves-rescue-of-bayernlbs-austrian-subsidiary-hypo-group-alpe-adria-and-extends-in-depth-investigation/

Website: HGAA http://www.hypo-alpe-adria.com/115/com_cms/group/home.nsf/index_e.html

Deutsche Welle, 14.12.09: Austrian government announces plan to take over subsidiary of troubled German bank http://www.dw-world.de/dw/article/0,,5011630,00.html

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