EU Commission rules on Nord/LB
As Reuters has heard from the market, the EU Commission will decide this week on the rescue of Nord/LB. A decision in principle is imminent, but an official decision could be even longer in coming. Already on Tuesday the Brussels authority is to make a judgement on a new capital injection on working level. Allegedly, it will amount to 3.6 billion euros. The rumors were not commented on by North/LB circles, but a spokeswoman for the Lower Saxony Ministry of Finance said she was “cautiously optimistic”. Reuters/Germany
Disclaimer
The information provided on this website is for general informational purposes only and does not constitute legal, tax, financial, or professional advice. While we strive to ensure accuracy and completeness, no guarantee is given regarding the timeliness, correctness, or completeness of the content. The content does not replace individual advice from qualified legal, tax, or financial professionals. Any actions taken based on the information provided are done at the user’s own risk. Liability for any direct or indirect damages arising from the use or non-use of the information presented is excluded to the fullest extent permitted by law.
(Image rights: istockphoto.com/igmarx)