Austrian president signs Hypo "haircut" law

VIENNA, July 31 Thu Jul 31, 2014 5:05am EDT

Related Topics

VIENNA, July 31 (Reuters) - Austrian President Heinz Fischer has signed a law that will wipe out the claims of subordinated debt holders in nationalised bank Hypo Alpe Adria, his office said on Thursday.

Fischer said he had concerns about the law, which enters uncharged territory for debt markets because the creditors had guarantees from Hypo's home province, but had to sign it to free the way for Austria's constitutional court to examine it. (Reporting by Georgina Prodhan; Editing by David Holmes)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video