EC Statement: State aid - Commission approves Finnish capital injection scheme for financial institutions
( September 11, 2009, 09:45 GMT | Official Statement) -- Extract: The European Commission has approved under EC Treaty state aid rules a Finnish support scheme to stabilise financial markets by providing capital injections to eligible financial institutions. The Commission found the measure to be in line with its Guidance Communications on state aid to overcome the financial crisis (see IP/08/1495 and IP/08/1901).The European Commission has approved under EC Treaty state aid rules a Finnish support scheme to stabilise financial markets by providing capital injections to eligible financial institutions. The Commission found the measure to be in line with its Guidance Communications on state aid to overcome the financial crisis (see IP/08/1495 and IP/08/1901). In particular, the Commission considers that the measure constitutes an adequate means to remedy a serious disturbance of the Finnish economy and is as such in line with Article 87.3.b of the EC Treaty. In particular, the scheme is non-discriminatory, limited in time and scope and provides safeguards to minimise distortions of competition....
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