Staff at the European Commission’s competition directorate (DGIV) in Brussels like to refer to the June 23 events as a “dawn raid” in fact they were unannounced house searches of the seven biggest banks in Vienna. The men from Brussels struck at the civilized hour of 9.00am, calling at each institution’s front door and asking to see the chief executive. The investigators even postponed searching three of the seven banks until the next day.
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