BRUSSELS, Dec 22 (Reuters) – The European Commission said it doubts that WestLB’s plans to set up Germany’s first “bad bank” complies with EU rules on state aid, granting only temporary clearance for the rescue plan.
Financial Regulatory Forum
By Edward Taylor and Kirstin Ridley
FRANKFURT/LONDON, Nov 3 (Reuters) – Neelie Kroes’s campaign to shrink banks and launch vast asset sales has angered bankers, who accuse the firebrand European competition commissioner of kicking the industry when it’s down.Investment bankers close to some of the bailed-out lenders blame Kroes for undermining attempts to rebuild the once-lucrative industry by forcing massive, near-simultaneous asset sales, while banning acquisitions.
By Foo Yun Chee and Clara Ferreira-Marques
BRUSSELS/LONDON, Oct 28 (Reuters) – European Union
regulators have approved a UK government plan to break up
state-owned mortgage bank Northern Rock, in a move that clears the way for the sale of key parts of the battered lender.
By Foo Yun Chee
BRUSSELS, Oct 16 (Reuters) – Neelie Kroes, the European Union antitrust czar, has picked two high-fliers with a wealth of financial and state aid experience to help restructure Europe’s banking landscape in the wake of the credit crisis.
By Ben Berkowitz and Gilbert Kreijger
AMSTERDAM, Oct 2 (Reuters) – The European Commission on Friday gave the Dutch government a surprise extension of time to sell portions of nationalised bank ABN AMRO, about two weeks after a sale fell apart and just three hours before what had been regarded as a firm deadline.
BRUSSELS, Sept 29 (Reuters) – Partially-nationalised British
bank Lloyds needs to shrink its activities in areas
where it is currently dominant to compensate for taking billions
of pounds in state aid, the European Union’s antitrust chief
By Steve Slater and Foo Yun Chee
LONDON/BRUSSELS, Sept 18 (Reuters) – Europe’s banks face a shakeout as a result of the European Commission flexing its muscles over state aid that the sector gratefully accepted to survive a financial crisis.