UK Bank Bailouts May Have Violated WTO Rules: Lamy

Law360, New York (November 23, 2009, 4:38 PM EST) -- World Trade Organization Director-General Pascal Lamy has said the British government may have engaged in protectionism when it bailed out Royal Bank of Scotland and Lloyds Banking Group last year, and that the country could face trade sanctions if it is found to have violated WTO rules.

Lamy made the remarks to the U.K.-based Sunday Telegraph over the weekend, which also reported that the news came on the heels of a European Commission ruling that directed British Prime Minister Gordon Brown to break up RBS and...
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