Press Release: State aid: Commission approves Portuguese bank recapitalisation scheme to boost real economy

The European Commission approved, under EC Treaty state aid rules, a Portuguese bank recapitalisation scheme intended to bolster financing of the real economy. The scheme is in line with the Commission’s guidance on support measures for credit institutions during the financial crisis. In particular, the measure is limited in time and scope. The Commission therefore concluded that the scheme is an adequate means to remedy a serious disturbance of the Portuguese economy and as such is compatible with Article 87.3.b of the EC Treaty.