Brussels, 15/12/2008 (Agence Europe) - On Friday evening 12 December, the European Commission approved changes to the German rescue package for financial institutions (initially approved by the Commission on 27 October 2008). Since notification of changes foreseen by the German authorities on 11 December, negotiation with the Commission had mainly been hampered over remuneration of recapitalisation measures. According to the agreement sealed between Berlin and the Commission, although basic remuneration rates may, in some cases, be below the rates foreseen in the initial package, the price for the state participation increases in proportion to its duration so as to incite beneficiaries to pay back the state support as soon as market conditions allow them to do so. The Commission believes this will attenuate the adverse impact that measures have on competition, mainly concerning aid granted to Commerzbank under the programme. “Of course, we welcome the Commission's decision”, said a spokesperson from the German bank by phone before going on to explain that aid to Commerzbank will not require further notification to the Commission (as long as it is in line with the German plan as approved Friday last). The non-confidential version of the decision will be published under No 625/2008 in the State aid register on the website of DG Competition. (C.D./transl.jl)