BERLIN, Oct. 5 (UPI) -- The second-biggest mortgage lender in Germany appeared close to collapse after an effort to shore it up failed Saturday.
A spokesman for Hypo Real Estate said a consortium of banks refused to provide the $50 billion required by a government-sponsored rescue plan, the BBC reported.
Analysts said they believe Hypo is within a few days of failure. Government officials and banking representatives were expected to meet Sunday to discuss alternatives.
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