(European Commission, Brussels, 29 June 2012) The European Commission is inviting comments on its first draft of a revised communication on the application of EU state aid rules to short-term export credit insurance. With the financial crisis cutting the supply of “private” export credit finance, despite trillions in taxpayer subsidies to banks, increased attention is falling on government subsidies to exporters which distorts the “level playing field” supposedly regulated by the OECD and the WTO.
