State aids
State aids: the term for subsidies used in the Treaty of Rome. According to Article 92 of the Treaty, member states of the European Economic Community may not grant any aids to firms that would distort or threaten to distort competition. Exceptions deemed compatible with the provisions of the Treaty include non-discriminatory aids of a social character granted to individual consumers and aids intended to remedy damage caused by natural calamities or other extraordinary events. State aids which may be compatible with the Treaty include those intended to promote regional economic development, important projects or to remedy serious economic disturbances.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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