The European Commission has approved under EC Treaty State aid rules the recapitalisation of Commerzbank. On the basis of the German financial crisis scheme, Germany has already granted €8 billion of capital to the bank in December 2008 and intends to grant another €10 billion of capital. Germany notified this second tranche to the Commission for reasons of legal certainty so that the Commission could verify the compatibility of the measure with State aid rules. On the basis of the notified plans, the Commission is satisfied that Commerzbank's long term viability has been demonstrated, and that the aid is kept to the minimum and will not lead to undue distortions of competition. It has therefore declared the aid compatible.
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Commission approves recapitalisation of Commerzbank
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