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Observations on the Financial Crisis in Ireland and the Use of the State Aid Rules by the EU Commission

Finbarr Murphy


I. Introduction This paper looks at the State Aid regime put in place by the EU Commission over a relatively short period in late 2008 and 2009 to respond to the initial and most virulent phase of the global financial crisis, at how those rules were applied to financial institutions across the EU, and in particular to Irish banks where the impact of the crisis has been most keenly felt. It commences with a review of the causes of the crisis. One of th


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