The Salvation plan of the German bank Hypo Real Estate failed

Suddenly, an attempt by the authorities and the private financial capital of Germany to save from the threat of collapse of the Krach Munich mortgage bank Hypo Real Estate Group by providing 35 billion euros to refinance its activities until the end of 2009 was failed.

According to the Vesti-24 channel, the bank’s statement says that a “rescue package” developed by government experts and a consortium of private banks, “is currently recalled”.

Moreover, specific reasons for the review are not indicated. It is unclear whether the discussion held on Saturday in Paris has influenced this decision between the leaders of the four leading industrial countries of Europe on the ways of overcoming the crisis of the banking system.

Thus, the Munich bank became the first company in Germany, which is part of the most important German exchange index DAX, which was on the verge of bankruptcy as a result of a global financial crisis.

Earlier, the Chancellor of Germany Angel Merkel spoke in support of this package of measures of 35 billion euros. It was assumed that the German state would give a guarantee of 26.6 billion euros, and the remaining 8.5 billion will provide private banks.

The declared goal of this measure was to strengthen confidence in the financial system of Germany, and it enjoyed the support of the leading political parties in the country.

According to the federal department of financial control and the German federal bank, as a result of these injections, the financial legal capacity of the problem bank, which suffered because of one of his subsidiaries, actively operating in the real estate market in the United States, will be completely restored.