Brussels, 02/09/2013 (Agence Europe) - On 2 September, the European Commission approved the restructuring plan of Banco Comercial Português (BCP) Group, following an agreement reached with the Portuguese authorities in July. This follows in the wake of approval of restructuring plans for Caixa Geral de Depósitos (CGD) and Banco PI (BPI) (see EUROPE 10895). The Commission says the BCP restructuring plan is in line with EU state aid rules. In particular, the restructuring plan is suitable to make sure the institution is viable in the long term without continued state support, ensures a sufficient contribution by the bank and its owners to the cost of restructuring and minimises distortions of competition. The bank was given a public bailout of €3 billion in 2012 to enable it to pass the bank stress tests. (FG/transl.fl)