Press Release: State aid: Commission approves Italian recapitalisation scheme for financial institutions

The European Commission approved an Italian aid scheme aimed at supporting the financing of the real economy by providing capital instruments to fundamentally sound financial institutions. After intensive exchanges with the Italian authorities, the Commission found the scheme, as amended, to be in line with its Guidance Communications on state aid to overcome the financial crisis. In particular, the measures were limited in time and scope, require market oriented remuneration and contain enough incentives to redeem the state participation over time, as well as sufficient safeguards to avoid abuses. The Commission therefore concluded that the scheme was an adequate means to restore a serious disturbance of the Italian economy and as such compatible with Article 87.3.b of the EC Treaty.