Brussels, 17/06/2009 (Agence Europe) - On Wednesday 17 June, the European Commission approved a measure notified to it by the Austrian authorities, of their intention to recapitalise the bank Hypo Tirol with the help of a sum of €100 million by way of a guarantee on the capital subscribed by private investors. The measure aims to ensure an appropriate ratio of own funds in the context of the current crisis and thus to preserve the classification of the bank and its refinancing opportunities. The Commission took the view that this measure was in line with its communications on state aid in the context of a financial crisis. In a press release, it stresses that the measure "in particular is limited in scope, requires an adequate remuneration and provide safeguards to minimise distortions of competition". This recapitalisation is therefore compatible with the relevant provisions of the Treaty (article 87, § 3, point b) which authorise aid to remedy a serious disturbance in the economy of a member state. (O.L./transl.fl)