§ Brian CotterTo ask the Secretary of State for Trade and Industry What progress has been made with discussions with the European Commission on the EU rules which forbid the Government of member state from subsiding banks in relation to the proposed universal bank project. [55005]
§ Mr. AlexanderThe European Commission has decided not to raise any objections to universal banking services. It informed the Government in February 2002 that it considers the measures notified to it to be compatible with the common market.