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What if the Commission decided the Irish guarantee is illegal state aid?

Well, a court challenge would take a long time to wander through the system, by which stage the guarantee would have run out anyway.

Anyway, if a bank actually looks like failing it'll probably be nationalised, which I have reason to suspect is the alternative that was being considered on Monday night for one or more banks.

by Colman (colman at eurotrib.com) on Wed Oct 1st, 2008 at 06:07:33 AM EST
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