EU commissioner supports legal action against Italy on banking

Author (Person)
Series Title
Series Details 9.11.05
Publication Date 09/11/2005
Content Type

The European Commissioner for the Internal Market, Charlie McCreevy, said on 8 November 2005 he was in favour of legal action against Italy over the way the country's central bank handled two bank takeovers in 2005. The takeover battle was widely regarded as a test case for the openness of the European financial services market, which the European Commission believes is suffering from excessive protectionism and national barriers.

Related Links
European Commission: Press Release: IP/05/1386, Financial sector: Commission presents analysis of obstacles to cross-border mergers and acquisitions, 8.11.05 http://europa.eu/rapid/pressReleasesAction.do?reference=IP/05/1386&format=HTML&aged=0&language=EN&guiLanguage=en
European Commission: Memo: MEMO/05/409 http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/05/409&format=HTML&aged=0&language=EN&guiLanguage=en

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