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EU member governments to relax restrictions subsidies

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BRUSSELS, Dec.prada handbags sale 1 (Xinhua Shang Jun) view of the current EU economy is still troubled by the sovereign debt crisis, the European Commission 1 decision, member states continue to relax restrictions on use of government subsidies to help financial institutions and enterprises through difficulties.

The international financial crisis, prada handbags as an interim response, the European Commission to allow Member States to help ease the financial institutions and corporate financing difficulties, can be more free to use government subsidies. The day of the European Commission's decision, this special policy will be extended to 2011.

European Commission Vice-President responsible for competition policy, said Joaquin Almunia, the specific crisis response measures have been implemented in recent years, it is necessary to consider phasing in order to maintain fair competition in the market, but the situation remains tense requires cautious on the pace at the end.

Therefore, prada outlet the European Commission decided to continue the implementation of this particular policy, while a more strict conditions attached, such as from next year, the Member States in the use of government subsidies means for financial institutions to provide funding and other assistance, it must require financial institutions to submit a reorganization plan ; Member States can still provide subsidized loans to SMEs and the government guarantees to help them overcome difficulties in financing, prada shoes on sale but are not allowed to big corporations working capital loans.

The European Commission responsible for maintaining the EU's internal market, fair competition, and government subsidies would distort competition if used improperly.

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