Brussels, 15/09/2010 (Agence Europe) - On Wednesday 15 September, the European Commission approved a thorough restructuring of Parex which, before the crisis, was Latvia's second largest bank. Under the plan submitted by the Latvian authorities, the core assets and operations of Parex will be transferred into a newly established bank called Citadele, with the remainder of Parex turned into a resolution bank. The Commission is satisfied that the restructuring plan will ensure the long-term...