02/06/2010 (Agence Europe) - On Wednesday 2 June, the European Commission gave the go-ahead for emergency recapitalisation of €875 million for the Irish Educational Building Society (EBS). The Commission temporarily approved the measure, notified on 30 April 2010, for six months as emergency rescue aid. EBS is a mortgage lender providing financial services to small companies and individuals. The aid will enable EBS to meet its legal tier one capital requirements and restore damaged confidence in the Irish financial markets. EBS now had six months to submit a restructuring plan to address its problems in the long-term and become viable without the need for state aid. (F.G./transl.fl)