European Financial Bailout Is Working: Review

Law360, New York (August 10, 2009, 1:33 PM EDT) -- The European Commission's competition enforcement unit has released a review of the financial sector bailout package to European Union member states in the wake of the global financial crisis, deeming the efforts successful for the most part.

The EC's directorate-general for competition issued the review on Monday, stating that 32.8 percent of the total debt guarantee aid and 54.8 percent of the recapitalization aid authorized had been taken up, and that several of its schemes had been extended for six additional months.

From October 2008 to...
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