EC To Issue Financial Rescue Guidelines

Law360, New York (October 8, 2008, 12:00 AM EDT) -- The European Commission is preparing to issue guidelines to help speed up the approval process for banking rescue plans involving recapitalizations and guarantee schemes.

Member states need to act quickly and markets need to be reassured that European Union rules will not jeopardize their actions, European Commissioner for Competition Neelie Kroes said at a meeting of the economic and monetary affairs committee of the European Parliament on Monday.

The guidelines, expected later this week or early next week, “will be based on our recent experience with...
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