Latvia Bank Mortgage and Land Open for EU Aid

January 26, 2012

The Latvian Government is back in the scene with the EU’s Antitrust Authority giving a short go-ahead in helping the Mortgage and Land Bank, the question that has arisen is whether this is in accordance with the instructions of the European Union. The help has been provided to allow the bank to transition into a focused development Bank removing from it events of a commercial nature.

A regulator (when referring to European Union) said, “needs to gather all the necessary information”, the regulator continued with, “to ensure that the aid granted to MLB’s commercial activities is compatible with the Commission’s state-aid rules on restructuring aid.”

The Latvian’s of the Baltic State country are very pleased with this move giving much encouragement to its people.

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