Scoreboard shows strong increase of aid in response to the financial crisis but Single Market intact Published on: 07/12/2009
The European Commission's latest State Aid Scoreboard shows the financial crisis multiplied the overall aid volume from € 66.5 billion or 0.52% of the EU-27 GDP in 2007 to € 279.6 billion or 2.2% of GDP in 2008. Crisis measures excluded, total aid stood in 2008 at € 67.4 billion or 0.54% of GDP. Timely and coordinated action by Member States and the Commission contributed to safeguarding financial stability. The European Commission's state aid policy was one of the key factors ensuring that this – overall successful – rescue process has been achieved in a coordinated way. The Commission allowed swift implementation of unprecedented support measures but at the same time ensured that the Single Market was not disrupted by disproportionate distortions of competition. Aid not related to the crisis remained broadly stable and oriented towards objectives of common interest.