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EU can't say if talking to UK on possible bank plan

Tue, Oct 7 2008, 10:45 GMT
http://www.afxnews.com

BRUSSELS, Oct 7 (Reuters) - The European Commission declined to say on Tuesday whether it was in touch with British authorities over speculation of possible new measures to shore up British banks.

"We are in regular contact with the UK authorities, I cannot at this stage say whether we have been in touch on this specific point ... which has not yet been announced," a Commission spokesman told a regular news briefing.

"If they were to take such a step the Commission would have to analyse the details ... whether there was any state aid involved and if so whether that state aid is compatible with EU rules," he added.

The British government held talks with major banks on Monday evening at which the possibility of an injection of public money was discussed, according to a source familiar with the talks.

(Reporting by David Brunnstrom and Krisztina Than; Writing by Ingrid Melander; Editing by Dale Hudson) Keywords: FINANCIAL/BRITAIN EU

tf.TFN-Europe_newsdesk@thomsonreuters.com

cmr

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