Brussels, 02/06/2016 (Agence Europe) - In the opinion of European Court of Justice Advocate General Juliane Kokott, issued on Thursday 2 June, Belgium has infringed EU law by allowing ARCO financial cooperatives to join the Belgian savings guarantee system. Kokott says that the European Commission was right to decide in 2014 that the guarantee amounts to unlawful state aid (see EUROPE 11114).
Following collapse of ARCO, the main shareholder of the bank Dexia, the Belgian government decided...