One of the questions raised by the unprecedented state interventions in favour of banks that were hit by the financial crisis is whether the mere fact of having benefitted from aid in the past qualifies any future state measures granted to the same undertaking as aid. Given the number and importance of beneficiaries that received ‘crisis aid’ under article 107(3)(b) TFEU, this question merits a prompt answer. In terms of State aid law, it amounts to establishing the applicability of the Market Economy Operator Principle, MEOP. While the General Court (GC) ruled on consecutive state measures under Article 107(1) TFEU in the BP Chemicals case of 1998, recent case law has raised much controversy. This article attempts to clarify the implications of disregarding or misapplying BP Chemicals and the consequences of such practice to the MEOP while the CJEU is about to give its ruling in FIH, a highly debatable case on consecutive state measures in the banking sector.
Keywords: Applicability and Application of the MEOP; Banking Sector; Consecutive State Interventions; BP Chemicals Formula; FIH Case.