Development and Finance from issue 2010/1

Tímea Tóth

Review of Conor Quigley QC’s book entitled European State Aid Law and Policy

- Abstract -

Brilliant timing of this piece of state aid literature can be highlighted in two aspects. On the one hand, the European economy has fallen into its deepest recession since the Great Depression in 1930, with governments throwing trillions of euros at financial incentive packages that collectively total 5% of the European Union’s GDP. Aid is increasingly finding its way on to the front pages of newspapers as governments make attempts to counter the impacts of the crisis and restore confidence to the money markets. Not all of these measures can be considered state aid, for example the temporary lowering of VAT rates in some EU Member States or the reduction in interest rates by central banks, since these are just general economic incentives. However, other steps taken by governments, such as measures designed to rescue car manufacturing or the banking sector, constitute aid.

Conor Quigley: European State Aid Law and Policy. United States of America and Canada, Hart Publishing, 2009, second edition.

Tímea Tóth

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