Bloomberg News

FMS Bad Bank Won’t Further Burden German Budget, Kotthaus Says

October 19, 2011

Oct. 19 (Bloomberg) -- Germany won’t need to set aside additional budget funding for FMS Wertmanagement, the bad bank in charge of winding down assets of Germany’s Hypo Real Estate Holding AG, after the state-owned entity wrote down the value of its Greek holdings, Finance Ministry spokesman Martin Kotthaus said in Berlin today.

To contact the editor responsible for this story: Tony Czuczka at aczuczka@bloomberg.net


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