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Bailout, Bankruptcy and who Bails Out the Bailout?

Vernon Vig

DOI https://doi.org/10.21552/ESTAL/2004/4/46



There is no equivalent in United States law to the prohibitions of State aid set out in Article 87(1) of the European Treaty, nor any apparent need for such provisions in a country with a competitive common market, no legacy of State-owned enterprises and little or no tradition of government aid to firms in difficulty. While there consequently is no obvious basis for comparative studies, some overlaps of experience exist because firms and industries on bot

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