Unlimited Liability of State-owned Banks under the EC-Rules of State Aids [Paperback]

The applicability of EC law of state aids to the state`s unlimited liability for Savings Banks and Landesbanken is controversial. Legal and political discussions following the Maastricht-II-Treaty tend to assume that liabilities have to be qualified as state aids. However, as the liabilities in question derive from public ownership, they have to be distinguished from securities for corporate debts which might be qualified as state aids under EC law. In this context the book discusses state aids to public companies and the private investor test of the EC Court of Justice. The authors question the EC Commission`s concept to quantify refinancing advantages which are supposed to be achieved by virtue of public liability.The applicability of EC law of state aids to the state`s unlimited liability for Savings Banks and Landesbanken is controversial. Legal and political discussions following the Maastricht-II-Treaty tend to assume that liabilities have to be qualified as state aids. However, as the liabilities in question derive from public ownership, they have to be distinguished from securities for corporate debts which might be qualified as state aids under EC law. In this context the book discusses state aids to public companies and the private investor test of the EC Court of Justice. The authors question the EC Commission`s concept to quantify refinancing advantages which are supposed to be achieved by virtue of public liability.A. Statement of the issue.- B. Institutional burden and guarantor liability as organizational concept of commercially active public institutions.- I. Financial institutions under public law in the German banking system.- 1. The significance of public banks in Germany.- 2. Functions and significance of savings banks.- a) Historic development of savings banks.- b) Functions of savings banks.- 3. Functions and significance of Landesbanken.- 4. The profit realization principle rather than the profit maximization principle.- II. Institutional l#-