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Daily News – 27.02.2015

European Commission - Daily News

Daily News 27 / 02 / 2015

Brussels, 27 February 2015

European Commission President Juncker visits Madrid

European Commission President Jean-Claude Juncker will be in Madrid on 4-5 March for a series of meetings. On 4 March President Juncker will participate in the Interconnections Summit, which will be followed by a joint press conference with President of Spain Mariano Rajoy, President of France François Hollande and Prime Minister of Portugal Pedro Passos Coelho. Energy interconnectors are crucial to build an Energy Union with a forward-looking climate policy, one of the key priorities of the new Commission as laid down by President Juncker in his political guidelines. On 5 March, President Juncker will be granted an audience with His Majesty the King Felipe VI of Spain. (for more information: Margaritis Schinas – Tel.: +32 229 60524)

European Commission appoints new Head of Representation in Stockholm

Anna Katarina Areskoug has been appointed as Head of the European Commission Representation in Stockholm. She will take up office on 1 March 2015. She brings to her new role almost 25 years of experience in European and international affairs as well as proven leadership and management skills. A press release is available online. (for more information:Natasha Bertaud – Tel.: +32 229 67456)

State aid: Commission opens in-depth investigation into support measures granted by Fondo Interbancario di Tutela dei Depositi in favour of Italian Banca Tercas

The European Commission has opened an in-depth investigation to assess whether support measures granted by the Italian mandatory deposit guarantee scheme Fondo Interbancario di Tutela dei Depositi (FITD) in favour of the ailing Italian bank Banca Tercas were in line with EU State aid rules. Deposit guarantee schemes are mandatory under EU law to ensure that covered deposits are paid out when a bank is liquidated and exits the market, in which case there are no State aid issues. However, when a mandatory deposit guarantee scheme intervenes beyond this pay-out function to grant support to ailing banks themselves, it is likely that the measures were granted through State resources and may procure the beneficiary bank an undue advantage over its competitors. At this stage, the Commission considers that FITD's interventions to support Banca Tercas may have constituted State aid within the meaning of EU rules. The Commission has the duty to verify that all such public measures respect EU state aid rules aimed at minimising competition distortions in the Single Market, in particular its 2013 Banking Communication. These rules have the purpose of limiting the amount of public funds used to the minimum necessary and ensuring that an appropriate own contribution to the restructuring costs is provided by the aid beneficiary. The opening of an in-depth investigation gives interested third parties, as well as the Member State concerned, an opportunity to submit comments. It does not prejudge the outcome of the investigation. The non-confidential version of the decision will be made available under the case number SA.39451 in the State Aid Register on the DG Competition website once confidentiality issues have been resolved. (for more information: Ricardo Cardoso – Tel.: +32 229 80100; Yizhou Ren - Tel.: +32 229 94889) 

 

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