AmCham

2009 InBusiness Spring Edition

Source AmCham Romania

This edition includes articles on the activity of AmCham’s committees, a cover story on State Aid, as well as an ample presentation of the event AmCham organized in February – Challenges and Opportunities during an economic downturn – A practical guide in the Romanian Market.
You are also invited to meet new AmCham members, as well as the winners of the sixth edition of the People for People Award Gala.
AmCham members are welcomed to express their views regarding the topics included in the publication, as well as to promote their businesses to the AmCham members using the advertising opportunities.

In this issue:

Feature: State aid in the context of the current financial and economic crisis

By Livia Constantinescu, Senior Associate - DLA Piper

The existing market situation has brought again into the spotlight the EU State aid regime. Debates over the role of State aid policy in developing responses to the current economic crisis, as well as over the threat of a resurgence in protectionism make front-page headlines.

Indeed, the crisis has forced the European Commission to recognize in the current economic climate the application of Article 87 (3) b of the EC Treaty which states that the Commission may declare compatible with the common market aid “to remedy a serious disturbance in the economy of a Member State”. The commission took the view that the current global crisis “requires exceptional policy responses”.

As a consequence, in addition to the state aid possible under the so-called existing instruments (like the General Block Exemption Regulation, the Guidelines on State aid for rescuing and restructuring firms in difficulty) a new temporary framework to support access to finance in the current crisis including measures which might help various sectors (such as subsidised state guarantees and subsidized loans for the manufacture of green products) has been put into place at European level.

However, as the economic hard times bite, there have been signs of increasing protectionism, and the European Commission’s role in "stopping the protectionism of some member states" seems to become increasingly difficult.

Challanges and Opportunities during an Economic Downturn - A practical guide in the Romanian Market

AmCham members' views on:

- Strategies for Crisis Management: AT Kearney

- Securing Contractual Obligations in Times of Crisis: bpv Grigorescu

- Strategic Perspectives during Crisis: Ensight Management

- Romania and the International Financial Crisis: Raiffeisen Bank

- Perspectives on the Wind Legislation: Zamfirescu Racoti Predoiu

- Continous Transformation - What to do today: George Vascan