Implications of International Economic and Financial Crisis on State Aid Granted in The EU Member States

Abstract

The emergence of global financial and economic crisis in 2007 and its effects on the real economies of the member states, since 2009, have led to a series of reforms and new developments in all EU common policies, which aimed to provide tools and solutions to boost economic growth and financial stability in EU. One of the most reformed common policy was undoubtedly state aid policy that became one of the main tools to support the banking and financial sector in all member states. Our analysis aims to highlight the impact of the international financial and economic crisis on the different types of aid granted by Member States to respond to exceptional conditions and systemic risks brought by the crisis in the banking sector, highlighting also the economic implications on the EU budget.

Keywords

• state aid
• warranties
• depreciated assets rescue
• restructuring