On Monday 2 September, the European Commission approved the extension until September 2025 of the liquidation aid scheme for Polish credit unions under EU State aid rules.
The aim of the mechanism set up in February 2014 is to manage the financial difficulties of credit unions in Poland. By managing these bankruptcies, the scheme helps to maintain the country’s financial stability and protect depositors’ interests. For example, it ensures that depositors benefit from a certain level...