State aid measures to combat the global financial crisis
The global financial crisis which has taken hold in the last couple of months has given rise to a flurry of activity in the state aid field as a number of financial packages have been put in place to save struggling banks and to ensure the stability of the financial systems of various member states. These packages necessarily need prior EC clearance as state aid.
To protect financial stability and avoid spill-over effects on the rest of the economy, new temporary arrangements were put in place by the European Commission on 1 October to allow quicker approval decisions on emergency rescue measures in favour of financial institutions. This has see...
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