Dáil Éireann Debate, Tuesday - 7 February 2017
174. Deputy James Browne asked the Minister for Finance if a bank (details supplied) received funding from another bank which is partially owned by the UK Government; his views on whether this amounts to state aid by the UK Government to the bank operating here; and if he will make a statement on the matter. [5608/17]
View answerAs the Deputy will be aware, the European Commission (Directorate-General for Competition) is in charge of ensuring that State aid complies with EU rules.
However, I am aware that RBS did receive State aid from the British Government. This aid, which required a significant restructuring of RBS, was approved by the European Commission in December 2009. In its approval the Commission would have taken into account all activities of RBS and, by extension, Ulster Bank. In addition, any potential distortions of competition were taken into account in the Commission's approval.
