RBS and Lloyds bow to Brussels

Article reports that Royal Bank of Scotland and Lloyds Banking Group have submitted to the European Commission July 2009 restructuring proposals that may see the banks forced to sell off branches and other assets. The plans are needed to enable the banks to qualify for state aid.

ESO: Background information: Stress tests for EU banks receiving state aid http://www.europeansources.info/record/stress-tests-for-eu-banks-receiving-state-aid/

ESO: Background information: Kroes sets sights on RBS and Lloyds disposals http://www.europeansources.info/record/kroes-sets-sights-on-rbs-and-lloyds-disposals/

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