In trouble: Hans Berger,  chairman of the HSH Nordbank. (Photo: www.hsh-nordbank.de)

HSH Nordbank applies for loan guarantee

The financially stricken HSH Nordbank has applied for the federal rescue fond. The country bank of Hamburg and Schleswig-Holstein applied for federal guarantees of 30 billion Euro. The bank is in a precarious financial situation following the world financial crisis.

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