Thursday 24 April 2014
Advertise  |  Subscribe  |  Register  | 

Close

About cookies: we use cookies to support features like login and sharing articles. Keep cookies enabled to enjoy the full site experience. By browsing our site with cookies enabled, you are agreeing to their use. Review our cookies information for more details.

Crisis blame-game targets hedge funds

By Jim Brunsden   -  05.03.2009 / 00:00 CET
The EU argues over whether private equity is the problem or the solution.
 

This article is reserved for paying subscribers...

FullOffer_small

Log-in:

Password:

Forgot your password? Just type in your email address and click on the Log In button

Select your offer today and receive:

Register Online Print
Hover over for more info

Free

€3 per week

€3.50 per week

Daily online news
EV Insider and e-alerts
Full access on mobile devices
Access to editorial, comment
Profiles
Special reports
Access to the archives
Access to iOS and Android apps
Newspaper delivered weekly
Register
Select offer
Select offer

For more information please contact subscriptions@europeanvoice.com or call +32 2 540 9098


Please log in to read this article:

Log-in

Password

Forgot your password? Just type in your e-mail address and click on the Log In button

Remember me

 

Don't have a login yet?

Discover your benefits and register for free now! It only takes a minute.

Register for free

© 2014 European Voice. All rights reserved.
Varrow

Most viewed in Business

Consumer protection for investors gets an overhaul You need an active subscription to read this article

More transparency on fees and remuneration.

businesssvengiegold1604
Charlie McCreevy
CHARLIE MCCREEVY Promises new legislation EC
Fact file

Aid comes in many forms

Aid to the banking sector by national governments during the financial crisis has taken various forms, including guarantees on liabilities, recapitalisations and securities schemes.

The measures taken by governments raise potential difficulties for the EU's single market, which is based on the principle of fair competition.

The European Commission has approved more than 40 national initiatives to support the financial sector. They include the bail-out of Fortis Bank by the governments of Belgium, Luxembourg and the Netherlands in October 2008, a German rescue-aid package worth €35 billion for Hypo Real Estate Holding, the UK government's nationalisation of mortgage bank Bradford and Bingley, and more general national support schemes.

Two cases are being formally investigated by the Commission as potentially illegal state aid: the UK government's rescue of Northern Rock and the restructuring of the German bank WestLB.

A further nine cases are being assessed by the Commission to see whether they can be approved or if a formal investigation is required. They include the recapitalisation of commercial bank Dexia by Belgium, France and Luxembourg, and a Polish bank-guarantee scheme.

In December 2008, the Commission relaxed the EU's state aid rules by adopting a ‘temporary framework' that allows member states to take exceptional measures to combat the effects of the financial crisis. Measures covered by the framework include subsidised loans, loan guarantees at a reduced premium, risk capital for small and medium-sized enterprises and direct aid (up to €500,000 per company).

Four countries have so far notified the Commission that they want to take measures under the temporary framework: Germany, France, Portugal and the UK.

Related articles

More transparency on fees and remuneration.

MEPs are expected to back on Thursday (20 February) a European Commission proposal to regulate credit and debit card companies, and to impose caps on certain card fees.

No change despite weak inflation, leaving markets disappointed.

New rules impose sentences for those who manipulate financial markets.

Bankruptcies could be handled outside courts MEPs fear legal uncertainty from change.

Advertisement

Comments

 

Your comment
Please note: The fields followed by an asterisk (*) are obligatory fields

Comment*

Name*
E-mail*
Website

Please, copy the code on the left into the box on the right

 I accept the Terms & conditions
 I would like to share my e-mail & website

Advertisement

Cookies info | Privacy policy | Terms & conditions