{"id":1003870704,"date":"2008-10-06T12:00:00","date_gmt":"2008-10-06T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/10\/06\/german-government-prepares-new-e50b-rescue-plan-for-hypo\/"},"modified":"2022-12-02T08:52:39","modified_gmt":"2022-12-02T16:52:39","slug":"german-government-prepares-new-e50b-rescue-plan-for-hypo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/german-government-prepares-new-e50b-rescue-plan-for-hypo\/","title":{"rendered":"German Government Prepares New \u20ac50B Rescue Plan for Hypo"},"content":{"rendered":"<p>Following Saturday night\u2019s collapse of a \u20ac35 billion deal to rescue the Munich-based Hypo Real Estate Group, the German government has assembled a second and larger package valued at \u20ac50 billion (U.S.$68 billion).  According to the Financial Times, a failure of the $550 billion Hypo would rank as the largest bank failure in modern Germany and shake the European financial system.  This morning, Hypo issued a statement welcoming \u201cthe new agreement between the German Government, the German Central Bank, the Financial Regulator BaFin and senior representatives of the German banking and insurance sector regarding credit lines for Hypo.\u201d   In the statement Georg Funke, the bank\u2019s CEO, said that the solution ensures that Hypo is stabilized, will have access to sufficient liquidity and can continue to operate.  The first rescue package fell apart when Deutsche Bank, one of a consortium of banks assembled to provide Hypo with liquidity, announced that \u20ac35 billion would not be enough to solve Hypo\u2019s liquidity problems. Some analysts speculated that the original rescue figure was sufficient last week, but Hypo\u2019s financial situation had deteriorated substantially over the past several days, implying that the increasingly global financial crisis is spreading quickly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following Saturday night\u2019s collapse of a \u20ac35 billion deal to rescue the Munich-based Hypo Real Estate Group, the German government has assembled a second and larger package valued at \u20ac50 billion (U.S.$68 billion). According to the Financial Times, a failure of the $550 billion Hypo would rank as the largest bank failure in modern Germany&hellip;<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003870704","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>German Government Prepares New \u20ac50B Rescue Plan for Hypo - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/german-government-prepares-new-e50b-rescue-plan-for-hypo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German Government Prepares New \u20ac50B Rescue Plan for Hypo\" \/>\n<meta property=\"og:description\" content=\"Following Saturday night\u2019s collapse of a \u20ac35 billion deal to rescue the Munich-based Hypo Real Estate Group, the German government has assembled a second and larger package valued at \u20ac50 billion (U.S.$68 billion). 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