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Article: EU approves rescue package for German bank WestLB
- Article from:
- Xinhua News Agency
- Article date:
- April 30, 2008
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Copyright informationCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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EU approves rescue package for German bank WestLB
BRUSSELS, April 30 (Xinhua) -- The European Commission Wednesday
approved an aid plan for a German state to rescue regional public
bank WestLB, a victim of the U.S. subprime crisis.
With total assets of 285.3 billion euros in 2006, WestLB is a
major German financial services provider.
The German state of North-Rhine Westphalia, where WestLB is
based, moved in February to grant a risk shield to protect WestLB.
There are strict conditions to ensure that the aid is limited in
time and ...
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