ECON committee: Almunia presented the state of play and priorities of competition policy
30 November 2010
The EC has authorised aid for over €4,500 bn – almost 39% of EU GDP – since the beginning of the crisis. Almunia announced that, market conditions permitting, the EC should return to the normal State aid régime on January 1st, 2012.
In 2009 Member States have used only part of the amount destined for State aid, approximating around 10% of EU GDP. The Commission can only assess aid against the benchmark of competition rules.
The EC is following the unfolding story of how the markets react to the efforts towards fiscal consolidation in some Euro Area countries.
Accordingly, on 1 December, Commissioner Almunia will propose to the College the extension of some of the temporary measures into 2011. The proposal will phase out unnecessary measures, but it will continue to support firms’ efforts to export and innovate in difficult times. It will also continue to help banks deal with the remaining balance-sheet problems.
© European Commission
