GERMAN WINE AID
February 1st, 2004
BY KEITH NUTHALL
THE EUROPEAN Commission has launched a formal state aid inquiry in Germany, examining the waiver of Euro 5 million on loans paid to GfW (Palatinate Wine Marketing Company) by the Reconstruction Fund for the Rhineland-Palatinate winegrowing area (WAK). The public body has also avoided claiming interest on outstanding debts. Germany claims the deal was commercial and so legal.
THE EUROPEAN Commission has launched a formal state aid inquiry in Germany, examining the waiver of Euro 5 million on loans paid to GfW (Palatinate Wine Marketing Company) by the Reconstruction Fund for the Rhineland-Palatinate winegrowing area (WAK). The public body has also avoided claiming interest on outstanding debts. Germany claims the deal was commercial and so legal.
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