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Extracts from the press conference by Neelie Kroes on the bank sector important state aid decisions

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On 12 May 2009 during a press conference, Neelie Kroes, Member of the EC in charge of Competition, announced that the European Commission has approved, under EC Treaty state aid rules, the €5 billion risk shield for German bank WestLB and accompanying measures, concluding that the measures will restore WestLB's long-term viability without undue distortions of competition. The Commission also approved the recapitalisation of the Allied Irish Bank and the state aid to restructure Fortis bank allowing its acquisition by BNP Paribas.
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Type: EbS   Reference: 63462   Date: 12/05/2009   Duration: 00:02:52
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