Brussels, 03/10/2008 (Agence Europe) - On Thursday 3 October, the European Commission approved the rescue aid package for Hypo Real Estate Holding. The services of Competition Commissioner Neelie Kroes said that the measures taken by the German government to cover the group's re-financing needs until April 2009 “comply with EU rules on rescue aid”. Hypo Real Estate received €35 million in aid guaranteed by the German state and a group of German banks.
However, “the approval of the rescue aid measure has no bearing on whether any future measures taken by the German authorities to support a restructuring would be similarly approved,” the Commission said in a press release. (L.C./transl.rt)