Extracts from the press conference by Joaquín Almunia on restructuring plans of Spanish banks Liberbank, Caja3, Banco Mare Nostrum and Banco CEISS approuved by the EC
On 20 December 2012, Joaquín Almunia, Vice-President of the EC in charge of Competition, gave a press conference on the temporary state aid framework adopted by the European Commission in 2008-2009 in order to enable Member States to deal with financial problems in systemic banks, as well as support access to finance for real economy firms.
On this occasion, Joaquín Almunia also announced his plan is to propose to the European Commission the adoption of the ordered resolution plan for Dexia.
The crisis rules for banks, which were tightened in July and December 2010, were extended on 1 December 2011. The Temporary Framework for state aid measures to support access to finance in the current financial and economic crisis expired in December 2011. SHOTLIST