| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/09/1985 (21.12.09) |
| Publication Date | 21/12/2009 |
| Content Type | News |
|
The European Commission has temporarily approved two state guarantees of €8 billion and €10 billion respectively for German bank Hypo Real Estate (HRE) under EU state aid rules. The Commission found that the guarantees are an appropriate means to remedy a serious disturbance in the German economy and as such compatible with Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU). These guarantees will be used by HRE to cover urgent liquidity needs of the bank. These, as well as previous rescue measures in favour of HRE, will be taken into account when the Commission makes its final decision on HRE's restructuring plan. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/1985&format=HTML&aged=0&language=EN&guiLanguage=en |
| Subject Categories | Internal Markets |
| Countries / Regions | Germany |
