27/05/2019 (Agence Europe) – The European Commission approved on Monday 27 May the ninth prolongation until next October of an Irish scheme for the resolution of credit unions. This measure involves merging credit unions with ample reserves with credit unions with a gap, providing, if necessary, a capital injection to make up any shortfall in the capital reserve requirements. The Commission found that the measure ensures that the beneficiaries become viable in the long-term through restructuring or merging with sound credit unions, and that they contribute to the cost of restructuring establishments. Moreover, since the impact of this scheme on competition is low, the institution considered that the extension of this scheme was compatible with EU State aid rules. (LT)