IDEAS home Printed from
   My bibliography  Save this article

State Aid for banks: from the Northern Rock rescue to the government support measures during the financial crisis


  • Virginia Giglio


Immediately after the Lehman Brothers failure, the lack of confidence in the financial markets and the serious difficulties of several European cross border financial intermediaries, a large wave of public rescue and support measures in favour of European banks and financial institutions and national banking systems occurred. This article leaves from the Northern Rock crisis to describe the main public support measures and the European Commission's activity in the State Aid control field over the last months aiming at ensuring the level playing field and, in perspective, the way back to the normality of the banking and financial system in the future. In the financial crisis context State Aid rules proved to be an adequate tool for the protection of competition at the European level and an important incentive for Members States to limit the taxpayers' burden for banking bailouts and to push banks to start to ride out their difficulties.

Suggested Citation

  • Virginia Giglio, 2009. "State Aid for banks: from the Northern Rock rescue to the government support measures during the financial crisis," Mercato Concorrenza Regole, Società editrice il Mulino, issue 1, pages 23-36.
  • Handle: RePEc:mul:jhpfyn:doi:10.1434/29268:y:2009:i:1:p:23-36

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers

    File URL:
    Download Restriction: no

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item


    State Aid; financial crisis; banks;


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mul:jhpfyn:doi:10.1434/29268:y:2009:i:1:p:23-36. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.