EU Nations Win a Year’s Reprieve on State Aid

European governments will be allowed to provide soft loans and other concessionary support to their banking and industrial sectors for one more year because of the lingering effects of financial crisis, according Europe’s top competition regulator.

But in an interview with the Financial Times, Joaquín Almunia, European Union competition commissioner, said he would reinstate the much tougher “normal” state aid regime from the beginning of 2012.

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