Brussels, 18/06/2004 (Agence Europe) - On Wednesday, the European Commission decided not to raise any objections to the Finnish legislation whereby the Finnish Municipal Guarantee Board (MGB) grants guarantees to Municipality Finance Plc (MFL).
The previous legal framework governing MGB and MFL in Finland had not been clear enough in stating that special credit institutions, like the MFL, may benefit from State guarantees only with respect to their public tasks. Such public tasks include...