Brussels lays out restructuring agenda for banks

The European Commission laid out new guidelines for banks receiving government support on Thursday (23 July) in order to avoid distortions of competition within the sector.

Since the fall of Lehman Brothers last September, roughly 30 banks within the EU have received state aid to keep them afloat on condition that a restructuring plan be submitted within six months.

But banks will have five years to implement their plans, an indication that the commission still considers the curr...