The European Commission has launched an in-depth investigation into the British authorities' bail-out of the recently nationalised British bank Northern Rock.
Competition Commissioner Neelie Kroes said the body needed to open a formal probe 'to ensure legal certainty'.
Britain's biggest casualty of the global credit crisis was nationalised last month after borrowing £25 billion in emergency funds from the Bank of England.
On Monday, Northern Rock said it made a £168m loss last year, swinging from a profit of over £600m in 2006.
