EU Gives Green Light to Nord/LB’s Recapitalization
The European Commission has found Germany’s plans to strengthen the capital position of state-owned Norddeutsche Landesbank – Girozentrale (Nord/LB) to be free of any state aid. The measures involve a direct investment of EUR 2.8 billion (USD 3.1 billion) as well as investments to carry out the necessary structural changes and downsizing of the bank…