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Banks get new capital for free and citizens pay the bill

January 22, 2013 by Maria Milouv 3 Comments

Yesterday the European Commission approved “temporarily” the recapitalisation of a Portuguese bank Banif with €1.1 billion. The Commission will take a final decision on the compatibility of the capital injection with EU state aid rules after the assessment of the restructuring measures will be proposed by Portugal. Presumably those restructuring measures will be layoffs […]

Filed Under: Competition, Policy Tagged With: Allan Greenspan, austerity, Banif, Ben Bernanke, European Central Bank, free capital injection, Mario Draghi, state aid

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Banks get new capital for free and citizens pay the bill

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