ANNOUNCEMENT 14 Jan 2009In January 2009, the government of France announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
The letter from the European Commission to France - Brussels 4.2.2011 C(2009) 802 final. Available from: < http://ec.europa.eu/eu_law/state_aids/comp-2009/n015-09.pdf >
The letter from the European Commission to France - Brussels 28.01.2011 C(2011)542 final. Available from : < http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=3_SA_32182 >
On 14 January 2009 the French authorities contacted the European Commission regarding their intention to provide interest rate subsidies to both private and public loans.
The reason for implementing this measure is the financial crisis which according to the French officials has started to affect the French real economy. The objective of this measure is to facilitate access to finance. French authorities estimate the number of beneficiaries, French private companies, to be over 1000.
After 31 December 2012 the interest rates will be set to the normal reference level fixed by the Commission.
"The measure is selective, because the help will be provided only for certain companies. The measure confers an advantage for beneficiaries by providing them loans with subsidized interest rates which would not be available in the absence of the measure, which distorts or threatens to distort competition." (par. 30 of the letter from the European Commission to France - Brussels 4.2.2011 C(2009) 802 final.)
Prolongation of temporary interest rates subsidies - State Aid SA.32182 (2011/N)
On 3 January 2011, the French authorities notified the European Commission regarding their intention to extend the measure N15 until 31 December 2011. Thus, favourable interest rates can be allowed until 31 December 2013. After this date they will be set to the normal reference level fixed by the Commission. The Commission decided not to raise objections.
A state measure in the GTA database is assessed solely in terms of theextent to which its implementation affects the extent of discriminationagainst foreign commercial interests. On this metric, the state aidproposed here is discriminatory.