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Europe Daily Bulletin No. 10008

29 October 2009
GENERAL NEWS / (eu) eu/state aid
Green Light for Northern Rock bailout

Brussels, 28/10/2009 (Agence Europe) - On Wednesday 28 October 2009, the European Commission approved a package of measures to support the restructuring of UK mortgage lender Northern Rock. The bank will be split into a 'good' bank that will continue the economic activities of Northern Rock and a 'bad' bank, an asset management company to run down the remaining assets. Following an in-depth investigation launched in April 2008, extended due to substantial amendments to the original plan in...

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