Press Release: State aid: Commission approves prolongation of Italian bank guarantee scheme

The European Commission authorised, under EC Treaty state aid rules, the prolongation of an Italian guarantee scheme for banks. The Commission found the prolongation of the measures, initially approved on 13 November 2008, to be in line with its Communication on state aid to overcome the financial crisis. In particular, the extended measures were limited in time and scope. They were therefore compatible with Article 87.3.b of the EC Treaty that allows aid to remedy a serious disturbance in the economy of a Member State.