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The Economics of State Aid Control in the European Union during the Financial Crisis: the Challenge for a Post-Crisis Rhetoric

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  • Radu Cristian MUŞETESCU

    (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.

Suggested Citation

  • Radu Cristian MUŞETESCU, 2012. "The Economics of State Aid Control in the European Union during the Financial Crisis: the Challenge for a Post-Crisis Rhetoric," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(6(571)), pages 175-184, June.
    • Handle: RePEc:agr:journl:v:6(571):y:2012:i:6(571):p:175-184
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    Cited by:

    1. Marian DARDALA & Adriana REVEIU, 2013. "Using Raster Based Solutions to Identify Spatial Economic Agglomerations," Informatica Economica, Academy of Economic Studies - Bucharest, Romania, vol. 17(1), pages 131-143.
    2. NECULITĂ Mihaela & ANTOHI Valentin Marian & MOGA Liliana Mihaela, 2012. "Usage of the European Funds for Agricultural and Countryside Development in Romanian Rural Areas," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.

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