Brussels, 04/05/2016 (Agence Europe) - On Wednesday 4 May, the European Commission approved the prolongation, of an Irish aid scheme aiming to restructure the credit union sector until 31 October of this year.
The restructuring will involve the merger of the weakest and the strongest credit unions by providing a capital injection if required to cover any shortfall in the capital reserves of the entities born of these mergers. A stabilisation phase will then help viable unions which have...