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State Aid control in the Financial Sector and Systemic Financial Stability: Rules applied during the Financial Crisis and in the Banking Union

Lecomte, Mathilde LU (2017) JAEM03 20171
Department of Law
Abstract
State aid is an area of competition law. State aid measures are used to remedy market failures and to help undertakings when they are facing difficulties. State aid control aims at ensuring a level playing field between aided and non-aided firms. During the 2007-2009 financial crisis, several banks have encountered difficulties, and Member States have been forced to help them out through diverse means. The European Commission has been comprehensive and has issued a temporary framework with an expiry date of application to guide Member States and accelerate the aid approval process. Nevertheless, a balance had to be found between protection of the financial stability and maintaining a level playing field. The financial crisis made the... (More)
State aid is an area of competition law. State aid measures are used to remedy market failures and to help undertakings when they are facing difficulties. State aid control aims at ensuring a level playing field between aided and non-aided firms. During the 2007-2009 financial crisis, several banks have encountered difficulties, and Member States have been forced to help them out through diverse means. The European Commission has been comprehensive and has issued a temporary framework with an expiry date of application to guide Member States and accelerate the aid approval process. Nevertheless, a balance had to be found between protection of the financial stability and maintaining a level playing field. The financial crisis made the European Union realise that it lacked a harmonised set of rules concerning supervision and regulation of credit institutions at Union level. The creation of the Banking Union appears as drawn from a lesson learnt during the crisis. (Less)
Abstract (Swedish)
Statligt stöd är ett område för konkurrenslagstiftning. Statsstödsåtgärder används för att avhjälpa marknadsmisslyckanden och hjälpa företag när de står inför svårigheter. Statsstödskontroll syftar till att skapa lika villkor för stödda och icke-stödda företag. Under finanskrisen 2007–2009 har flera banker stött på svårigheter, och medlemsstaterna har tvingats hjälpa dem på olika sätt. Europeiska kommissionen har varit omfattande och har utfärdat ett tillfälligt ramverk med utgångsdatum för ansökan för att styra medlemsstaterna och påskynda godkännandet av statligt stöd. Ändå fick Kommissionen hitta en balans mellan skydd av finansiell stabilitet och upprätthållande av konkurrensen i Europeiska unionen. Finanskrisen gjorde att Europeiska... (More)
Statligt stöd är ett område för konkurrenslagstiftning. Statsstödsåtgärder används för att avhjälpa marknadsmisslyckanden och hjälpa företag när de står inför svårigheter. Statsstödskontroll syftar till att skapa lika villkor för stödda och icke-stödda företag. Under finanskrisen 2007–2009 har flera banker stött på svårigheter, och medlemsstaterna har tvingats hjälpa dem på olika sätt. Europeiska kommissionen har varit omfattande och har utfärdat ett tillfälligt ramverk med utgångsdatum för ansökan för att styra medlemsstaterna och påskynda godkännandet av statligt stöd. Ändå fick Kommissionen hitta en balans mellan skydd av finansiell stabilitet och upprätthållande av konkurrensen i Europeiska unionen. Finanskrisen gjorde att Europeiska unionen inser att det saknades en harmoniserad uppsättning regler för tillsyn och reglering av kreditinstitut på unionsnivå. Skapandet av bankunionen framträder som dragits av en läxa som man har lärt sig under krisen. (Less)
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author
Lecomte, Mathilde LU
supervisor
organization
course
JAEM03 20171
year
type
H2 - Master's Degree (Two Years)
subject
keywords
State aid, Financial crisis, Banking Union, Systemic Financial Stability
language
English
id
8927043
date added to LUP
2017-10-12 16:01:55
date last changed
2017-10-12 16:01:55
@misc{8927043,
  abstract     = {State aid is an area of competition law. State aid measures are used to remedy market failures and to help undertakings when they are facing difficulties. State aid control aims at ensuring a level playing field between aided and non-aided firms. During the 2007-2009 financial crisis, several banks have encountered difficulties, and Member States have been forced to help them out through diverse means. The European Commission has been comprehensive and has issued a temporary framework with an expiry date of application to guide Member States and accelerate the aid approval process. Nevertheless, a balance had to be found between protection of the financial stability and maintaining a level playing field. The financial crisis made the European Union realise that it lacked a harmonised set of rules concerning supervision and regulation of credit institutions at Union level. The creation of the Banking Union appears as drawn from a lesson learnt during the crisis.},
  author       = {Lecomte, Mathilde},
  keyword      = {State aid,Financial crisis,Banking Union,Systemic Financial Stability},
  language     = {eng},
  note         = {Student Paper},
  title        = {State Aid control in the Financial Sector and Systemic Financial Stability: Rules applied during the Financial Crisis and in the Banking Union},
  year         = {2017},
}