German tax payers will face a bill of nearly €10 billion for the state-owned HRE “bad bank” to cover last year’s losses alone, while further billion-euro losses are expected this year.
German national debt has been slashed by nearly €56 billion at a stroke, after the books were checked at the ‘bad bank’ of the nationalised Hypo Real Estate (HRE).
Europe's top competition watchdog on Friday expressed "doubts" about the long-term viability of troubled German bank Hypo Real Estate, while granting temporary approval for ongoing state support.
Germany will pump another €2.08 billion ($2.79 billion) into the troubled bank Hypo Real Estate, the financial market stabilisation fund SoFFin said Wednesday in a statement.
Germany’s taxpayers’ association (BdSt) on Monday attacked generous bonus payments for bankers at the nationalised Hypo Real Estate bank, calling them a “scandal.”
Investors will comb through the results of stress tests on state-owned German banks this week for signs of trouble in the heart of Europe's biggest economy.
Investors in one of Germany's biggest casualties of the banking crisis cried foul on Thursday as the former head of Hypo Real Estate sued for millions of euros (dollars) in lost salary and pension benefits.
Troubled German property financier Hypo Real Estate (Hypo RE) will need until 2015 to repay about €100 billion of state aid, chief executive Axel Wieandt said Monday.
German Chancellor Angela Merkel would give the nation's banking supervisor extensive powers over struggling banks, including the capacity to dismiss executives, the Financial Times reported on Friday.
The beleaguered state and property financier Hypo Real Estate may need more state aid than previously expected, a report in Sunday newspaper <i>Welt am Sonntag</i> revealed.
German bank Hypo Real Estate (HRE) posted on Tuesday a first quarter loss of €382 million euros ($511 million) as the state pursued its bid to nationalise the troubled property lender.
US investor Christopher Flowers, who heads a consortium owning almost a quarter of Hypo Real Estate (HRE), has refused an offer by the German government to buy the shares to nationalise the troubled mortgage lender.
The German government launched a takeover of troubled Hypo Real Estate bank on Thursday with the aim of stabilising the financial markets as the worst recession since the 1930s sets in.
Germany adopted a highly controversial emergency law on Friday allowing the government to nationalise stricken banks by seizing investors' shares if necessary.
German deputies on Friday approved a first reading of legislation that could lead to a nationalisation of the Hypo Real Estate bank and the expropriation of US shareholder Christopher Flowers.
The US investor Christopher Flowers, a key shareholder in the troubled bank Hypo Real Estate, said Friday he expected to get about three euros per share for his holding if the bank is nationalised.
German Chancellor Angela Merkel said she had not ruled out nationalising the troubled Hypo Real Estate (HRE) bank as a last resort, during a television interview on Sunday evening.
The German state will provide another €12 billion ($15 billion) in guarantees to struggling Hypo Real Estate bank, bringing the total to €42 billion, HRE announced late Tuesday evening.
