Theoretical and Applied Economics
No. 6 / 2012 (571)
The Economics of State Aid Control in the European Union during the Financial Crisis: the Challenge for a Post-Crisis Rhetoric
Bucharest Academy of Economic Studies
Abstract. The present paper explores the rationale behind the legal framework regulating the use of state aid by the member-countries of the European Union during the financial crisis. Starting with 2008, the massive interventions in the banking industry of the governments of the member-countries attempting to eliminate the effects of the crisis fundamentally challenged the core logic of the entire policy regarding the control of state aid in the European Union. We attempt to underline the extraordinary dimension of the impact of the financial crisis on state aid control and scrutinize whether the underlying principles of the state aid regime have been changed. We conclude that the special place that the financial industry in general, and the banking industry in particular, enjoys from the point of view of competition policy, is unfounded. European Union is, after the crisis, in the uncomfortable position of re-legitimizing state aid control.
Contents
Basel III – Between Global Thinking and Local Acting
Recovery of the Tourism Potential of the Central Development Region. Case Study
Fiscal, Monetary Policies and Institutions’ Role (Political, Social and Economic) in Pakistan
Outsourcing. The Concept
The Analysis of the Ethnical Discrimination on the Manpower’s Market under the Economical Crisis
The Local Development Initiatives in the Rural Development Context
Post-crisis Economy of the European Union in the Global Context
New Approaches to Social Economy
The Role of Accounting and Accounting Law in Establishing Public Economic Policies in the Post-crisis Period
Impact and Limitations Deriving from Basel II within the Context of the Current Financial Crisis
Models of the Economic Growth and their Relevance
The Limit between the Rational and Irrational Behaviour in the Economic Science
The Bureaucracy in the Current Economic Climate
Analysis of the American Economic System – from the Old Capitalism to the New Capitalism
The Economics of State Aid Control in the European Union during the Financial Crisis: the Challenge for a Post-Crisis Rhetoric