Viewpoint: Hang together, or we'll all hang separately

[Legal Beagles]

Nils Pratley: We're in danger of unleashing 'beggar thy neighbour' policies on bank guarantees

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[Amethyst]

Re: Viewpoint: Hang together, or we'll all hang separately

Ireland's move may well constitute illegal state aid, but don't expect the European Commission to act any time soon (there's a referendum to be won in Ireland, don't forget). Ireland may also be considered too small to make much difference in international terms. But big problems would arise if, say, France offered such blanket guarantees to its banks. If that happened, every other EU country would have to decide whether to follow or risk destabilising its own banks.

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