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

The European Commission found a resolution scheme for distressed credit unions in Ireland to be in line with EU rules that allow aid to remedy a serious disturbance in the economy of a Member State. In particular, the measure is limited in time and scope, ensures adequate burden-sharing and contains safeguards to avoid undue distortions of competition.

Ireland: Department of Finance: Press Release, 20.12.11: Approval of Credit Union Resolution Scheme by the European Commission http://www.finance.gov.ie/viewdoc.asp?DocID=7108&CatID=78&StartDate=1+January+2011

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