Acquittal despite corruption at Hypo Bank

Wolfgang Kulterer, the former chairman of the Austrian scandal bank Hypo Alpe Adria, and two other accused were cleared on Tuesday of having committed a breach of trust in granting loans. The daily Delo criticises the acquittal: "Countries where the legal system effectively limits corruption without at the same time slowing down the economy can count themselves lucky. In numerous states however, the scales tip either to one side or the other, and this is the case with several blatant cases of economic corruption in Austria. Several days ago the court at Klagenfurt cleared three former managers of the failed Hypo Alpe Adria bank of accusations that they had granted toxic credits amounting to 2.15 million euros. In so doing the court showed that quite a lot is rotten in the fight against corruption."

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