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Europe Daily Bulletin No. 8384

23 January 2003
Contents Publication in full By article 34 / 38
GENERAL NEWS / (eu) eu/competition
Austria must phase-out State guarantees for Austrian banks

Brussels, 22/01/2003 (Agence Europe) - The European has requested that Austria phase out State guarantees (Ausfallhaftung) in favour of some Austrian banks. The Commission had, earlier in April 2002, informed Austria that its system of State guarantees for some banks contravened State aid rule. Now, a new step has been taken with the formal suppression of State aid. This decision can be seen in parallel with the ending of State guarantees given to CDC IXIS (see other article) and the...

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