{"id":913,"date":"2009-11-19T04:01:31","date_gmt":"2009-11-19T10:01:31","guid":{"rendered":"http:\/\/www.nationalturk.com\/en\/?p=913"},"modified":"2009-11-20T06:32:34","modified_gmt":"2009-11-20T12:32:34","slug":"the-european-commission","status":"publish","type":"post","link":"https:\/\/www.nationalturk.com\/en\/the-european-commission\/","title":{"rendered":"The European Commission approves banking breakup"},"content":{"rendered":"<p><strong><a href=\"http:\/\/www.nationalturk.com\/en\/wp-content\/uploads\/2009\/11\/european-commission.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-914\" title=\"Europe approves banking break-up\" src=\"http:\/\/www.nationalturk.com\/en\/wp-content\/uploads\/2009\/11\/european-commission-280x175.jpg\" alt=\"Europe approves banking break-up\" width=\"280\" height=\"175\" srcset=\"https:\/\/www.nationalturk.com\/en\/wp-content\/uploads\/2009\/11\/european-commission-280x175.jpg 280w, https:\/\/www.nationalturk.com\/en\/wp-content\/uploads\/2009\/11\/european-commission-575x360.jpg 575w, https:\/\/www.nationalturk.com\/en\/wp-content\/uploads\/2009\/11\/european-commission.jpg 750w\" sizes=\"auto, (max-width: 280px) 100vw, 280px\" \/><\/a>The European Commission approved the government&#8217;s restructuring plans for Lloyds Banking Group, following the \u00a317bn state aid package it received as part of last year&#8217;s takeover of HBOS.<\/strong><\/p>\n<p>EU Competition commissioner Neelie Kroes said the restructuring of the group and its plans to raise \u00a321bn of extra capital, including a \u00a312.5bn rights issue, was compatible with EU rules on state aid.<\/p>\n<p>The EU executive also approved the restructuring plan for Dutch bank ING.<\/p>\n<p>And it said that Belgium&#8217;s KBC must make a string of divestments in return for state aid.<\/p>\n<p>Kroes said: &#8216;There is no such thing as a free lunch. Our policy is to encourage vibrant but responsible competition in the banking sector.&#8217;<\/p>\n<p>Lloyds has earmarked 89.7246p as the price at which it will convert bonds into contingent equity capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EU executive also approved the restructuring plan for Dutch bank ING.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80,68,17,118],"tags":[1556,777,1559,1555],"class_list":["post-913","post","type-post","status-publish","format-standard","hentry","category-breaking-news","category-business","category-europe","category-hot","tag-european-commission","tag-lloyds-banking-group","tag-neelie-kroes","tag-the-european-commission"],"_links":{"self":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/comments?post=913"}],"version-history":[{"count":0,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/913\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/media?parent=913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/categories?post=913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/tags?post=913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}