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@ 2014-04-16 16:42:00

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European Commission opens in-depth investigation of state aid for Parex
The probe “will clearly delay the necessary exit of the government” from ''Citadele'', said James Oates, chief executive officer of Tallinn, Estonia-based investment adviser ''Cicero Capital'', in a phone interview. The government may have to pay an indemnity to a purchaser which “complicates the process and reduces the price,” he said. Latvia may lose as much as EUR 500 million of the money it used to rescue ''Parex'', central bank governor Ilmars Rimsevics said in January.

http://europa.eu/rapid/press-release_IP-14-454_en.htm


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