DUBIOUS STATE AID TO ITALIAN DENIM MAKERS PROBED BY EUROPEAN COMMISSION
September 1st, 2007
BY MONICA DOBIE
THE EUROPEAN Commission has opened a formal investigation into Euro 40.7 million of state aid the Italian government plans to supply denim maker Legler. Brussels argues this is an illegal subsidy creating unfair competition. Legler has financial problems and is restructuring, but EU competition Commissioner Neelie Kroes said the aid must "effectively restore a company to commercial viability", adding "in the case of the aid for Legler, we have our doubts". The Italian government intends to grant Euro 13 million long term ...
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