EU Commission approves UK rescue plan

Mon Oct 13, 2008 9:33pm BST
 
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BRUSSELS (Reuters) - The European Commission approved on Monday a rescue package for the UK banking system, an EU statement said.

The EU executive said in a statement that the British rescue plan and a revised Irish bank guarantee scheme were "compatible with EU state aid rules."

 
Detail showing a commercial U.S. Dollar rate against British Sterling is displayed in central London in this file photo December 1, 2006.  REUTERS/Toby Melville
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