EU/CZECH REPUBLIC: EU GIVES ADVANCE CLEARANCE FOR KOMERCNI BANKA RESTRUCTURING.(European Union)(Brief Article) From: European Report | Date: December 20, 2003 | COPYRIGHT 2003 Europe Information Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

In the first such ruling of its kind, the European Commission has decided that Czech restructuring measures for one of the largest banks in the country will not fall prey to investigation after the Czech Republic joins the EU in May 2004. The Treaty of Accession made provision for such advance clearance through a so-called "interim mechanism", under which the Commission makes an assessment of state assistance measures in the new Member States, and rules as to whether or not the int...