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Europe Daily Bulletin No. 8230

12 June 2002
Contents Publication in full By article 13 / 44
GENERAL NEWS / (eu) eu/competition
Commission fines eight Austrian banks belonging to "Lombard Club"

Brussels, 11/06/2002 (Agence Europe) - The Commission has imposed a total fine of EU 124.26 million on eight Austrian banks for their participation in an agreement known as the "Lombard Club" which used wide-ranging price fixing techniques. Commissioner Monti described this agreement as, "one of the most shocking that the Commission has ever come across" because of the nature of its institutionalised character and the length and breath of the country it covered. It began well before Austria...

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THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION