The Offsetting of a Structural Disadvantage Is still State Aid* Introduction Normally it is conceptually and technically fairly easy to determine whether an undertaking benefits from a public measure. However, this task becomes considerably more difficult in two situations: i) when a public authority claims that it acts like a private investor and ii) when a public measure is intended to compensate for a disadvantage suffered by the beneficiary undertaking as a result of an action of a public authority. In the former case, it is necessary to carry out an economic assessment of the profitability of the project funded by the public authority. In the latter case, the Court of Justice has recognised that if a public authority imposes a public service obligation and the compensation for

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