Thursday, 17. April 2014
04. 02. 14. - 14:00
A leading Austrian economist has caused controversy by questioning the government's stance about how to deal with ailing bank Hypo Alpe Adria.
Professor Karl Aiginger, who heads up think tank WIFO and is Professor of Economics at the Vienna University of Economics and Business Administration, said the government were too quick to completely reject the possibility of letting Hypo go bust.
"We have to look at this solution," he said. "It is absolutely unintelligent to rule out this solution."
Government officials and a task force assigned to deal with Hypo said recently that they will not be considering insolvency for the bank, despite rumours in Austrian media that this was still under discussion.
They argued that it would be too risky for the country and could snowball out of control, affecting other healthy Austrian banks.
However Aiginger has said that steps could be taken to try and manage the fallout from a Hypo bankruptcy. These could include guaranteeing billions in covered bonds, and providing financial aid for the state of Carinthia, which is unable to pay it's debts back to Hypo.
Options favoured by the government at the moment include using healthy banks to absorb some of Hypo's toxic assets, although this idea has not proved popular with banks, who feel they are already under pressure from a recent tax levy hike.
The task force are due to announce their decision over the way forward this month.
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What is on at Haydn Kino this week? (17 April - 23 April)
The following films are on at the English language cinema Haydn Kino on Mariahilfestrasse between 10 April and 16 April:
Two teenage girls go missing as they fly from Austria to fight in Syria
Two teenager girls who say they have left Austria to fight in Syria have trigged an international search operation from the Austrian police. The two - a 15-year-old and a 16-year-old - left identical letters behind telling their families goodbye and that "we will meet in in Paradise". The letters told of their plans to go to Syria to "fight for Islam". The parents of the girls reported that their children had gone missing last week and since then the police tracked them to Turkish city of Adana, where they had flown to from Austria - after that the police lost track of the girls. Adana is 75 miles northwest of Aleppo, a city that became a major battleground during the civil war taking place in Syria. Police spokesman Thomas Keiblinger say that the police are taking the farewell letters "very seriously" and are now conducting an international search for two teenage girls who left farewell letters announcing plans to "fight for Islam" in Syria. Both girls come from families who immigrated from Bosnia but have not been fully identified by Austrian police.
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