The Directorate-General for Competition has issued a review of the aid schemes introduced by Member States and approved by the Commission during the financial crisis.
The Directorate-General for Competition has issued a review of the aid schemes introduced by Member States and approved by the Commission during the financial crisis. The review was carried out in the context of the renewal process of the guarantee and recapitalisation schemes, which started in April 2009. A number of such schemes have meanwhile been prolonged for a further period of six months for reasons of financial stability.
In the review, the Directorate-General for Competition addresses the effectiveness of the schemes implemented to date and analyses issues raised by Member States in this context. The review furthermore consolidates the requirements common to all approved guarantee and recapitalisation schemes, in order to provide additional transparency on the general standard for all such schemes. Finally, the review gives an overview per Member State of the public resources involved as a percentage of GDP.
The review is without prejudice to the Commission's analysis of the restructuring of banks on the basis of its Communication on restructuring aid to banks (see IP/09/1180 ) aimed at facilitating a return to normal market conditions.
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