The EC has launched an investigation into the Netherland’s loaning tens of billions of euros to Fortis Bank Nederland, because of concerns that the low interest rates would distort competition across the EU. The EU Competition Commissioner Neelie Kroes stated that even though the Dutch state could intervene to prevent the bankruptcy of Fortis Bank Nederland, “the commission has to ensure that the rescue aid was limited to the minimum necessary and did not create undue distortions of competition liable to cause problems for banks in other member states.” As part of the investigation, the Commission will also examine the Netherlands’ decision to buy ABN’s Dutch retail for an amount that may have exceeded the market value of its assets, which may have effectively recapitalized FBN without meeting the Commission’s conditions for such an action.