Joaquin Almunia has responded to the General Court’s ruling last week on ING’s refinancing and state aid that overturned a decision by the European Commission. Contrary to speculation at the time, Almunia believes that the outcome will have little bearing on the review of other cases of state aid to financial institutions. Moreover, he cited a “high probability” that the General Court’s decision will be appealed.
Full content: Bloomberg
Related content: The State Aid Action Plan: A Bold Move or a Timid Step in the Right Direction? (Frederic Jenny, ESSEC Business School)
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