Brussels, 01/10/2008 (Agence Europe) - On Wednesday 1 October, the European Commission decided to open an in-depth investigation into state aid measures in favour of the German bank WestLB. "This is a first step towards finding a viable long-term solution, in close contact with the German authorities", states a press release. Investments on the American sub prime market have put WestLB in a precarious financial situation. In February 2008, its owners, the Land of North Rhine-Westphalia and the savings banks associations, provided a risk shield of €5 billion, which was authorised by the Commission on 30 April 2008 as temporary rescue aid. As this measure remains necessary to allow WestLB to get through its problems, Germany has notified a restructuring plan. The opening of an investigation is usual for public interventions on this scale and does not prejudice the outcome of the procedure. Neelie Kroes stated that "an in-depth investigation provides a good opportunity for discussing the plan submitted in August in greater detail and finding a solution to ensure the long-term viability of WestLB". "I am confident that, with the full commitment of all parties concerned, a sustainable solution can be found", the competition commissioner said on Wednesday. (O.L./trans.fl)