Brussels, 22/06/2010 (Agence Europe) - On Tuesday 22 June, the European Commission decided to prolong the temporary approval of state aid to WestLB of Germany and to Austria's Hypo Alpe Adria Group (HGAA). The extensions will remain valid until conclusion of the in-depth state aid investigations into both banks.
In the case of WestLB (Rhineland North Westphalia), the Commission extends temporary authorisation of a “wind down vehicle” created earlier this year to take over the impaired...