Tuesday, April 7, 2015

EC investigates illegal aid to banks in Spain and other … – Yahoo Finance Spain

Brussels, April 7 (EFE) .- The European Commission (EC) is investigating possible illegal aid to banks in Spain, Greece, Portugal and Italy, which could end in opening a formal investigation, the EU executive said.

The Commission has sent letters requesting information and study and who is receiving national authorities, said a spokesman.

The EC considers whether the banks of the four countries used to reinforce its active capital deferred, which are not considered “high quality” by the European Central Bank (ECB) and the possible incompatibility of this with the aid rules State.

The same spokesman explained that the evaluation of information received “take some time yet” and reiterated that “there is not yet open a formal investigation.”

The four countries have more than 40,000 million in deferred tax assets as core capital taxes in their banking systems, which would make states involved in guarantors whether institutions go bankrupt, as published in today’s Financial Times.

According to European sources, the EU executive began to request information from countries following the warnings received by “sector, as well as several MEPs”

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