Schäuble wants inquiry into €55bn mistake

Article reports that Wolfgang Schäuble, German Finance Minister, demanded on the 30 October 2011 an urgent inquiry into how an apparent accounting mistake led to an embarrassing €55.5bn overstatement of the debt burden of a 'bad bank' handling the problem assets of a nationalised mortgage lender.

ESO: Background information: State aid: Commission approves restructuring plan of Hypo Real Estate and clears the aid http://www.europeansources.info/record/press-release-state-aid-commission-approves-restructuring-plan-of-hypo-real-estate-and-clears-the-aid/

BBC News, 28.10.11: Germany finds extra 55bn euros after accounting error http://www.bbc.co.uk/news/business-15503097

France24, 29.10.11: Germany €55bn richer after accounting error http://www.france24.com/en/20111029-germany-55bn-richer-after-accounting-error

Deutsche Welle, 29.10.11: Christmas comes early for Germany after 55-billion-euro accounting error http://www.dw-world.de/dw/article/0,,15497284,00.html

---