EUROPEAN UNION REGULATORS are to investigate the government’s restructuring of EBS amid concerns that it may have distorted competition in the market, the Irish Times reports.
A statement released today details how the European Commission “has doubts whether the distortions of competition caused by the aid are sufficiently addressed in the restructuring plan,” and added:
The opening of an in- depth investigation gives third parties the possibility to comment and does not prejudge the final outcome.
EBS’s restructuring plan was submitted on May 31. In June, the EU gave Ireland a temporary green light to inject €875m into EBS.
The Department of Finance has dismissed suggestions that the investigation will compromise the sale of EBS.
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