The EU Commission adopts a communication on the application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis

The new State aid temporary framework*I. Introduction: the financial and economic crisis The unprecedented crisis in the international financial markets has created major challenges for the EU. Since the beginning of the crisis, the Council has emphasised the necessity of maintaining the application of competition rules. The Commission must ensure a level playing field for European businesses and prevent Member States engaging in subsidy races which would be unsustainable and detrimental to the EU as a whole. Although public intervention has to be decided at national level, this needs to be done within a coordinated framework and on the basis of a number of common Community principles [1]. Abandoning State aid control would worsen difficulties and would ultimately be prejudicial

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Mercedes Campo-Mozo, The EU Commission adopts a communication on the application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis, 13 October 2008, e-Competitions October 2008, Art. N° 35138

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