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European Commission
EU to investigate government’s EBS restructuring plan
Concerns about the restructuring plan distorting competition have been raised.
EUROPEAN UNION REGULATORS are to investigate the government’s restructuring of EBS amid concerns that it may have distorted competition in the market, the Irish Times reports.
A statement released today details how the European Commission “has doubts whether the distortions of competition caused by the aid are sufficiently addressed in the restructuring plan,” and added:
The opening of an in- depth investigation gives third parties the possibility to comment and does not prejudge the final outcome.
EBS’s restructuring plan was submitted on May 31. In June, the EU gave Ireland a temporary green light to inject €875m into EBS.
The Department of Finance has dismissed suggestions that the investigation will compromise the sale of EBS.
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