IP/09/554
Brussels, 8th April 2009State aid: latest Scoreboard reviews Member
States' action to fight economic crisis
(See also MEMO/09/160)A special edition of the State Aid Scoreboard just
published by the European Commission focuses on measures adopted by Member
States and reviewed and coordinated by the Commission in the current financial
and economic crisis. In order to safeguard financial stability, Member States
have set up guarantee umbrellas, risk shields and recapitalisation measures for
the financial sector with an overall volume of up to €3000 billion. Three
new Commission Communications provide a clear framework setting out the
conditions under which these unprecedented measures can be taken while
preserving the integrity of the Single Market and avoiding harmful subsidy races
between Member States. In addition, the December 2008 Temporary Framework for
state aid measures provides guidance to Member States how companies and jobs in
the real economy can be best supported without excessive distortions of
competition. 
Competition Commissioner Neelie Kroes commented: "The past six months have
shown that state aid control plays a key role in tackling the challenges of the
economic crisis in a coordinated way across Europe. The EU's tried and tested
state aid rules have clearly been part of the solution. Our intervention and
– sometimes tough – conditions have prevented Member States from
falling into the trap of protectionism and exporting their problems to other
Member States, while allowing Member States to avoid financial meltdown. The
responsibility now lies with the financial sector to clean up their balance
sheets and restructure to ensure a viable future.”
Financial crisis
Coordinated action by Member States and the Commission has allowed the rapid
implementation of adequate support schemes and ad hoc measures to meet
the financial crisis challenge without undue distortions of competition. Since
September 2008, the Commission has taken more than 50 decisions, in often record
speed. This has contributed to maintaining financial stability and restoring
confidence in the financial sector and in the economy as a whole, while
preserving incentives for appropriate risk taking and competition in the future.
State aid control has been essential to avoid subsidy races and to safeguard a
level playing field for companies in the Single Market. It has safeguarded the
interests of sound financial institutions able to operate without state aid.The special Scoreboard edition shows that the overall maximum volume of
crisis measures in support of financial institutions, so far approved by the
Commission, amounts to around €3000 billion. This figure represents the
overall maximum amount of guarantee umbrellas (up to €2300 billion),
recapitalisation schemes (close to €300 billion) and ad hoc rescue
and restructuring measures in favour of individual banks and financial
institutions (around €400 billion). The actual state aid volume will be
significantly lower, in particular because the aid element of state guarantees
normally constitutes only a small fraction of the guaranteed amounts. Real
budgetary expenditure materialises only when a state guarantee is actually
drawn.
Since early October 2008, the Commission has steered action to help combat
the financial crisis with a clear policy framework. The Commission adopted three
Communications between October 2008 and February 2009, in close cooperation with
Member States: the 'Banking Communication' of 13 October 2008 (see IP/08/1495),
the 'Recapitalisation Communication' of 5 December 2008 (see IP/08/1901)
and the 'Impaired Assets Communication' of 25 February 2009 (see IP/09/322).Real economy 
Towards the end of 2008, the financial crisis spilled into the real economy.
In view of companies' difficulties to find credit, the Commission adopted on 17
December 2008 a Temporary Framework (see IP/08/1993)
providing Member States with additional means to tackle the effects of the
credit squeeze on the real economy. So far, the Commission has approved around
25 state measures in 10 Member States aimed at stabilising companies and jobs in
the real economy.
The Scoreboard, together with a set of detailed statistical tables and
indicators for all Member States, is available on the Commission's Europa
website at:
http://ec.europa.eu/competition/state_aid/studies_reports/studies_reports.html
under "Scoreboard, reports and studies"
Approved state aid interventions of Member
Statesin the context of the economic and financial crisis
(situation on 31 March 2009)Member StateGuarantee schemesRecapitalisation schemesSchemes combining several measuresOther measuresRecent ad hoc InterventionsReal Economy MeasuresBelgiumxxBulgariaCzech RepublicDenmarkxxGermanyxxxEstoniaIrelandxxGreecexSpainxxxFrancexxxxItalyxxCyprusLatviaxxxLithuaniaLuxembourgxxHungaryxxMaltaNetherlandsxxAustriaxxPolandPortugalxxxRomaniaSloveniaxxSlovakiaFinlandxxSwedenxxxUnited KingdomxxxAdditional tables in the spring 2009 State Aid Scoreboard provide more
detailed information including references and online links to state aid
decisions. For an overview of national measures adopted as a response to the
financial and economic crisis, see MEMO/09/111.