EU signals tougher stance on Alitalia loan

Published: Tuesday 22 July 2008 After a series of mild statements regarding the controversial €300 million loan given by the Italian authorities to the failling national airline Alitalia last April, the European Commission published its official position in the European official journal yesterday (22 July) revealing a much tougher tone. "On the basis of the information at its disposal at this stage, it takes the view that this aid measure should not be declared compatible with the common market," reads the Commission statement , published just one week after receiving detailed justifications from the Italian government on the Alitalia loan. The loan "provides Alitalia with an economic advantage it would not have had under normal market conditions," it explains. Brussels also makes it clear that by lending the debt-ridden... [read full story]