By KUNA,
Brussels : The European Commission approved here Tuesday emergency rescue aid worth 225 million euro that the Swedish authorities have granted to Carnegie Investment Bank.
The EC said in a statement that it found the measure to be in line with EU state aid rules to overcome the current financial crisis “The liquidity assistance was necessary to avoid the failure of Carnegie Bank which would have entailed a real risk for the stability of the Swedish financial system,” said EU Competition Commissioner Neelie Kroes. In October, the Swedish central bank granted SEK 2.4 billion (225 mn euro) special liquidity assistance to Carnegie Bank which was facing urgent liquidity problems.