Since then State aid could be granted only under very stringent conditions and subject to a “burden sharing” by shareholders and subordinated bondholders: a principle similar to the “bail-in” underpinning the new European Bank Recovery and Resolution Directive (BRRD), which was being drafted.
In 2014 for comparison (bracket values for 2018), merchandise exports to the UK were 14% (11 %)of the total, the US accounted for 22 per cent (28%) with 40 per cent (39%) going to the EU non-UK. 9. See the CSO data 10. OECD TiVA database data for 2014. 11.