Commissioner Kroes meets Ireland's Finance Minister Brian Lenihan to discuss bank guarantees

The Irish Minister for Finance, Mr Brian Lenihan TD, and the European Competition Commissioner, Ms Neelie Kroes, met on the evening of 6 October in Luxembourg to discuss the Irish Government’s legislation in relation to guarantees for banks.

The meeting was constructive and important in clarifying Irish intentions in relation to the implementing measures to be introduced shortly under the terms of the legislation.

The Commissioner raised concerns regarding possible discrimination between different banks operating in Ireland and the Minister confirmed that he is addressing the issues arising in that regard.

The Commissioner and the Minister agreed that these issues should be analysed by reference to the position of the beneficiary banks in the national economy.

They were also agreed on the importance that steps would be taken to guard against undue distortions in financial flows, and the Minister indicated that these concerns would be addressed through the implementing measures, currently being drafted, which will provide for both behavioural controls and quantitative balance sheet controls.

Published on: 2008-10-07

Limited copyright is granted for you to use and/or republish any story on this site for any legitimate media purpose as long as you reference 7thSpace and any source mentioned in the story above. Please make sure to read our disclaimer prior to contacting 7thSpace Interactive. To contact our editors, visit our online helpdesk. If you wish submit your own press release, click here.

Comments Page 0 of 0

There are currently 0 comments to display.

+ Add New Comment

Custom Search