Infrastructure Projects, State Guarantees and Distortion of Competition* State guarantees must be limited in duration and amount and the conditions for their mobilization must be defined in advance. Public funding to an operator in a closed sector does not affect trade and, therefore, does not constitute State aid. Introduction Large infrastructure projects are complex, encounter many unforeseen problems and often fall behind schedule for years. Consider, for example, the new airport in Berlin or the Crossrail line in London. Big, ambitious projects are risky. The company that operates Eurotunnel was launched in 1987 and managed to pay its first dividend only 22 years later in 2009. Although Eurotunnel is a case in point of the riskiness of large projects, it also shows that
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The EU General Court annuls a Commission decision holding that public funding to an operator in a closed sector does not affect trade and therefore does not constitute State aid (Scandlines Danmark) (Stena Line)
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