| Author (Person) | Tait, Nikki |
|---|---|
| Series Title | Financial Times |
| Series Details | 24.7.09 |
| Publication Date | 24/07/2009 |
| Content Type | News |
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The European Commission agreed a Communication explaining its approach to assessing restructuring aid given by Member States to banks, July 2009. The approach is based on three fundamental principles: i) aided banks must be made viable in the long term without further state support, ii) aided banks and their owners must carry a fair burden of the restructuring costs and iii) measures must be taken to limit distortions of competition in the Single Market. The guidelines, which are in force until 31 December 2010, explain in particular how the Commission intends to apply these principles in the context of the current systemic financial crisis, with a view to contributing to the return to viability of the European banking sector. |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe |
