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BRUSSELS, March 2 (Reuters) - Italy s bailout of ailing bank
Tercas six years ago did not involve state aid, Europe s top
court said on Tuesday, in a setback to EU competition enforcers
that may pave the way for compensation for Italian savers.
The European Commission in 2015 ruled the 300-million-euro
($360 million) rescue of Tercas was illegal because it was
carried out with money from Italian deposit guarantee fund FITD.
It ordered Italy to recover the money, a move which
subsequently resulted in less favourable terms for bailouts of
other banks, including Banca Monte dei Paschi di Siena in 2017.
The Luxembourg-based General Court, Europe s second-highest,
Top EU court backs Italian bank bailout in setback to EU antitrust regulators leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.
Ryanair has lost its fight against state aid granted to flag carriers including rivals Air France and SAS after a top European court said such schemes amid the Covid-19 pandemic were not discriminatory.
Ryanair on Wednesday lost its fight against the state aid granted to rivals including Air France and Sweden's SAS after a top European court said such schemes were not discriminatory amid the COVID-19 pandemic.