"Where state guarantees supporting commercial banking activities distort competition, they must be abolished: the case of CDC IXIS"*Introduction Commission decisions have consistently confirmed that the financial sector is subject to competition rules, including those relating to state aid, in exactly the same way as other sectors of the economy are. Whilst acknowledging banks’ special responsibilities in respect to depositors and the need to guard against systemic risk, the Commission has considered that measures should be put in place and indeed are put in place by the market and the appropriate regulatory authorities, to meet these situations. Therefore, banks cannot plead that they should benefit from a special treatment with respect to state aid rules. This has given rise over a
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The EU Commission proposes to French authorities to phase out State guarantee granted to a public financial institution (CDC IXIS)
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