Brussels, 10/11/2009 (Agence Europe) - On 10 November 2009, the European Commission opened an indepth inquiry into the state guarantee on a €450 million loan granted to Banco Privado Português. The measure was initially approved by the Commission in March this year, but Lisbon extended it without notifying the Commission. Also, the Commission is not convinced that some of the conditions stipulated during approval in March have been duly applied.
The loan itself consists of €450 million...