State aid: Commission approves support package for Danish financial institutions

The European Commission approved a package of measures aimed at supporting the financing of the real economy in Denmark. The Commission found the measures to constitute an appropriate means to restore confidence in the creditworthiness of Danish credit institutions and to stimulate lending to the real economy whilst complying with its Guidance Communications on state aid to overcome the financial crisis. In particular, the measures were limited in time and scope, require market oriented remuneration and contain sufficient safeguards to avoid abuses. The Commission therefore concluded that the measures were an adequate means to restore a serious disturbance of the Danish economy and as such compatible with Article 87.3.b of the EC Treaty.