Author (Corporate) | European Commission: DG Communication |
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Series Title | Press Release |
Series Details | IP/13/31 (21.1.13) |
Publication Date | 21/01/2013 |
Content Type | News |
The European Commission has temporarily approved, under EU state aid rules, a recapitalisation totalling €1.1 billion granted by Portugal to Banco Internacional do Funchal S.A. (Banif) for reasons of financial stability. Portugal committed to provide a far-reaching restructuring plan for Banif by 31 March 2013. The Commission will take a final decision on the compatibility of the capital injection with EU state aid rules after the assessment of the restructuring measures to be proposed by Portugal. |
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Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-13-31_en.htm |
Subject Categories | Internal Markets |
Countries / Regions | Portugal |