Exceptional times call for …

Exceptional times call for unexceptional measures, by the looks of it.

Business as usual? Today EurActiv reported ‘Barroso rejects bold ideas for EU financial reform’:

http://www.euractiv.com/en/financial-services/barroso-rejects-bold-ideas-eu-financial-reform/article-179971

Only realistic plans, adapted to the Council’s low expectations are to be presented.

After this I understand even less what Commissioner Almunia suggested he had hidden up his sleeve, should matters get worse (which seems to be the best case scenario, nowadays).

Yesterday Julien Frisch wondered in ‘The slowness of the EU Council during the financial crisis’, why nothing seems to have happened with regard to Cross-Border Stability Groups:

http://julienfrisch.blogspot.com/2009/03/slowness-of-eu-council-during-financial.html

***

Harmony between the (European) Council and the Commission is wonderful.

But isn’t Rome burning?


Ralf Grahn

P.S. The efforts of Central European member states to catch up with the older EU members have been called many things, but shouldn’t at least the ERM 2 countries get quick and effective help to enter the Eurozone?

P.S. 2 If there is a no-bailout clause to the effect that EU countries have no legal obligation to save their profligate neighbours, does it mean a prohibition against help in the common and each member’s own interest?

P.S. 3 Do we need new leaders, new rules or both?

State aid for SMEs

The European Commission has published a Handbook on Community state aid rules for SMEs, including temporary state aid measures to support access to finance in the current financial and economic crisis.

At this moment, the Handbook is available only in English, but translations are promised. The 42 page Handbook will be in demand among governments, business organisations and small and medium-sized companies struggling with the economic recession.

The state aid Handbook is available here:

http://ec.europa.eu/competition/state_aid/studies_reports/sme_handbook.pdf

Ralf Grahn

EU temporary state aid: Officially published

The European Commission’s Communication ‘Temporary Community framework for State aid measures to support access to finance in the current financial and economic crisis’ has now been published in the Official Journal of the European Union 22.1.2009 C 16/1:

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:C:2009:016:0001:0009:EN:PDF

The nine pages of the Communication form a richly documented crash course in EC (EU) state aid law, both previously existing principles and new temporary measures to counter the economic recession.

The Commission applies the Communication from 17 December 2008, the date on which it agreed in principle its content, but not beyond 31 December 2010.


Ralf Grahn