Britain asks EU to back Rock aid

United Kingdom authorities have requested European Commission approval of their decision to give Northern Rock more than £20 billion-worth ($41 billion) of Bank of England money under the Union's state aid rules.

The EU can grant rescue aid status to such loans, which lasts for up to six months, giving the government until March to work out how to deal with Northern Rock's massive public debt. If the Commission fails to offer rescue aid status, the company must repay the outstanding debt, wh

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: