Monday, 21st April 2008 - 12:40CET
EU: Too soon to say whether BoE plan is state aid
The European Commission said it is too soon to say whether the Bank of England's plan to swap hard-to-sell mortgage debt for government securities is a form of illegal state aid.
"We are in touch with UK authorities concerning the scheme. It is far too early to start speculating about whether it is state aid or not," Commission spokesman Jonathan Todd told a regular midday briefing.
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