Privatization: The ECJ holds that a privatization process cannot qualify as an important project of common European interest (Italy/Commission)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. – ECJ, 15 December 2005, Italy v. Commission, case C-66/02 Italy has brought an action for annulment of the Commission's decision of 11 December 2001 on the State aid scheme implemented by Italy for banks. The aid scheme in question was contained in the legislative decree of 17 May 1999 adjusting, inter alia, the tax regime for bank restructuring operations and containing various provisions designed to facilitate the reversal of measures which, during the initial process of transferring to the private sector the banking activities of public law credit institutions, had