An EU state can take shares in a bank against shareholders' consent when the country's and the EU's financial stability is at stake, the European Court of Justice ruled on Tuesday (8 November).
The court ruled in favour of the Irish government, which in 2011 recapitalised the Irish Life and Permanent Group (ILPG) bank by pumping in €2.7 billion, thus taking a 99.2 percent share in the bank.
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