EU may declare Bank's £50bn money market rescue 'Out'


	EU may declare Bank's £50bn money market rescue 'Out'

JICWyllie

4-30-2008 10:00 AM

168 views

tags:

economy, financial markets, i-loans, i-policy, i-legality, i-doubt

Add a Comment

Login to Comment. Not a member yet? Sign up

Cement Blamed for Global Warming

Here's where your money is going!

50 Facts that Should Change the World

Fatal Delusion

VaTech, D.O.E, Russians, collaborators stu...

Solar powered Prius!!

More clips from JICWyllie

Hydropower, Rail Shortages Will Likely Hit...

China Shuts More Coal Power Plants; Warns ...

Economy: Britain teeters on brink of reces...

Today's Top Clips

visit the Top Clips page

View the Top Clips from April 30, 2008

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d33ec3b8-32b4-4a6e-bd8f-f8afecc88a5e/9359B7C6-00A4-47AD-9A2F-7DFE78E13363/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://business.timesonline.co.uk/tol/business/economics/article3819131.ece" href="http://business.timesonline.co.uk/tol/business/economics/article3819131.ece" style="font-size: 11px;">business.timesonline.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/economics/article3819131.ece"><DIV>
The centrepiece of the Government’s plan to unclog Britain’s money markets
could be disrupted by European regulators because it falls foul of state-aid
rules, competition lawyers said yesterday.</DIV><BR /><DIV>
The Bank of England’s scheme to free up Britain’s home loan market by
injecting £50 billion into the banking sector risks contravening the rules
because it gives unfair advantage to British banks over rivals, experts say.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/economics/article3819131.ece"><BR /><DIV>
If the European Commission were to find that the package breaches its rules,
it could order that the loans be paid back more quickly than expected, and
at penal rates of interest.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9359B7C6-00A4-47AD-9A2F-7DFE78E13363/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>