On 17 December 2008, the European Commission adopted a Temporary framework for State aid measures to support access to finance in the current financial and economic crisis. This Framework provides Member States with additional possibilities in the state aid area to tackle the effects of the credit squeeze on the real economy. It introduces a number of temporary measures allowing Member States to address the exceptional difficulties of companies, and in particular of small and medium enterprises, to obtain finance.

These temporary measures are based on Article 87(3)(b) EC Treaty which allows the Commission to declare compatible with the common market aid "to remedy a serious disturbance in the economy of a Member State". Member States have to notify the schemes containing these measures, and once the scheme is approved, they can grant individual aid immediately without further notification.

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Practices involved

Banking & Finance
Competition / Antitrust