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Ornate ceiling at RBS headquarters: the company was once synonymous with prudent banking (Photo: duncan)

EU approves largest state aid plan in union's history

The European Commission on Monday (14 December) sanctioned a record state aid plan for the UK's Royal Bank of Scotland (RBS).

"We're talking about a very, very large amount of public aid here, between £60-100 billion (€67-111bn)," said commission competition spokesman Jonathan Todd while announcing the decision to journalists. "This is the largest amount of state aid ever received in the EU's history."

The scale of support measures for RBS is clear when compared to figures curren...

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Ornate ceiling at RBS headquarters: the company was once synonymous with prudent banking (Photo: duncan)

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