Austria warns BayernLB not to saddle it with HGAA

BRUSSELS Dec 10 (Reuters) - Austria's chancellor warned BayernLB [BAYLB.UL] not to try and saddle the country with a bailout of the German landesbank's troubled subsidiary Hypo Group Alpe Adria (HGAA).

"To simply shift their problem onto us, that won't work," Werner Faymann told reporters in Brussels.

A source familiar with the situation told Reuters earlier that BayernLB is considering giving away its majority stake in HGAA to Austria ahead of a looming 1.5 billion euro ($2.21 billion)bailout. Faymann made clear that Austria would not subsidise HGAA directly.

"We are responsible to the taxpayer," he said.

(Reporting by Ilona Wissenbach)