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Image header Agence Europe
Europe Daily Bulletin No. 8186
Contents Publication in full By article 14 / 30
GENERAL NEWS / (eu) eu/state aids

COMMISSION begins formal proceedings on Austria's guarantees to its banks

Brussels, 05/04/2002 (Agence Europe) - The European Commission has decided to open an investigation on the current guarantees given by the Austrian Government to provincial and local authorities for certain publicly owned credit institutions notably, the provincial mortgage banks and some savings banks. It has written to the Austrian government (the first stage in the proceedings) informing it of its doubts about the compatibility of existing state measures in the common market. These...

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