‘The Treaty on the Functioning of the European Union provides that certain government activities may be prohibited because they give an advantage in a selective way to certain entities, which might affect competition within the internal market. Those advantages may amount to prohibited state aid, or may be state aid which is either expressly allowed by the Treaty, or which may be allowed, dependent on the circumstances.’
Full story (PDF)
Thirty Nine Essex Street, January 2015
Source: www.39essex.com