March 20, 2019 / 12:12 PM / in a month

EU to assess impact of Tercas bank ruling, not linked to other past rescues- Vestager

BRUSSELS, March 20 (Reuters) - EU Competition Commissioner Margrethe Vestager said on Wednesday she will assess the impact of an EU court ruling on the rescue of Italy’s Tercas bank, but insisted the case should not be linked to other past bank rescues.

“We will have to come back” to the case, Vestager told a news conference, but said no decision was made yet on whether Brussels will appeal the judgment issued on Tuesday by the EU general court.

In a blow to EU antitrust regulators, EU judges had ruled on Tuesday that Italy’s rescue plan for ailing Tercas bank five years ago was legal, prompting calls for compensation for savers who subsequently faced stricter terms because Brussels had rigidly interpreted the bloc’s rules. The ruling overturned an earlier decision made by the Commission. (Reporting by Francesco Guarascio)

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