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Competition Law Challenges in the Next Decade

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Edited By Sofia Oliveira Pais

In the European Union, competition law has expanded and matured, assuming a key role in the promotion of consumer welfare, economic progress and public interest in general. Nevertheless, several issues remain open. Should the European Union remain faithful to antitrust public enforcement or fully consider the complementary role of private enforcement? Are the European solutions concerning exclusionary abuses coherent and predictable? What role should National Competition Authorities play in the context of State Aid? This book attempts to analyse and discuss some open, selective questions concerning three particular topics on competition law that are becoming highly relevant in the European and national praxis: antitrust private enforcement, exclusionary abuses and state aid. To address these issues, two seminars and international conferences, supported by the European Commission, took place at Católica Porto School of Law, Catholic University of Portugal, in March 2014 and March 2015. This publication includes the papers presented in those events, which gathered well-known and respected scholars and practitioners in the field of competition law, leading to a productive debate about EU competition law challenges in the next decade.
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The Portuguese Development Financial Institution and State aids

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The postponement of the development bank

Nuno Castro MARQUES1

Introduction

The creation of a development bank was first publicly discussed when the Portuguese Government announced its intention to review the strategy of the public bank Caixa Geral de Depósitos (CGD).2 The Portuguese Government’s intention was to significantly shift CGD’s traditional credit operations structure into tradable goods and services and into supporting exports and the internationalization of Portuguese companies.3 This intent walked side-by-side with the reorientation of the strategy for future use of EU structural and cohesion funds, as reached by agreement between the European Commission (EC) and the Portuguese Government. The newly agreed strategy has defined new investment priorities which intend to contribute to: the development of Portugal’s new economic policy; the use of structural and cohesion funds to improve the process of resource reallocation in the economy, with the involvement of credit institutions; the establishment of new mechanisms for venture capital co-investment; and to engage CGD’s in the development of solutions aiming a timely absorption of structural funds and a better use of public resources.4

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