Press Release: State aid: Commission temporarily approves recapitalisation of EBS

The European Commission on 2 June 2010 authorised under EU state aid rules an emergency recapitalisation worth €875 million in favour of the Irish Educational Building Society (EBS) for reasons of financial stability. The Commission approved the measure temporarily as urgent rescue aid until it adopts a final decision on the restructuring plan submitted by the Irish authorities. It will assess in particular whether EBS becomes viable without continued state support.