| 10.10.2008 | 16:00 UTC
Hypo Real Estate chairman resigns after bail-out
The chairman of Hypo Real Estate has resigned. This comes just days after the German government backed a €50 billion bail-out package for the struggling mortgage lender. Kurt Viermetz is the second senior executive to leave the bank since the deal was announced. The chief executive of HRE, Georg Funke resigned earlier this week amid severe pressure from the government and commercial banks, which claimed the lender had under-stated its exposure.
