The judgment delivered in late 2012 by the Court of Justice in the Leipzig-Halle case has deeply changed the rules governing the public financing of infrastructures. It is now established that the public financing of the construction of an infrastructure falls within the scope of State aid rules. This study is first and foremost a practical guide for investors so that they assess the extent to which the financing of an infrastructure project falls under State aid law, does indeed constitute aid and under what conditions it can be authorized. Above all, it mainly focuses on assessing the consistency and effectiveness of the Commission’s approach in the light of recent developments.
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