Edited by François-Charles Laprévote, Joanna Gray and Francesco De Cecco
Chapter 3: State aid and the financial sector: the evolution of the legal framework of State aid law
Since the beginning of the financial crisis, the European Commission has acted quickly by flexibly adapting the application of State aid control to the special crisis context. Between 2008 and 2013, the Commission adopted seven communications that provide a comprehensive framework for common conditions at EU level for access to public support and the requirements for such aid to be compatible with the internal market in light of State aid principles. This chapter presents the evolution of the legal framework of State aid law and the developments introduced by the seven communications. It also presents the interaction between the State aid rules and the new resolution framework (Bank Resolution and Recovery Directive and Single Resolution Mechanism).
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