Press Release: State aid: Commission approves restructuring aid scheme for Irish credit unions

The European Commission had found on the 16 October 2014 an Irish scheme aimed at restructuring the credit union sector to be in line with EU State aid rules. In particular, the Commission concluded that the scheme would strengthen the Irish financial sector, while limiting the risk of distorting competition in the Single Market. This was the first scheme that a Member State put in place for the restructuring of small financial institutions as foreseen in the Commission's 2013 Communication on state aid rules to support measures in favour of banks in the context of the financial crisis.

• Primary Source

ESO: Background information: State aid: Commission adapts crisis rules for banks http://www.europeansources.info/record/press-release-state-aid-commission-adapts-crisis-rules-for-banks/

ESO: Background information: MEMO: State aid: Commission adapts crisis rules for banks - frequently asked questions http://www.europeansources.info/record/memo-state-aid-commission-adapts-crisis-rules-for-banks-frequently-asked-questions/

---