The General Court of the European Union annulled the European Commission's decision of December 2015 according to which support measures for one of its members by the Fondo Interbancario di Tutela dei Depositi (FITD) - a consortium of banks governed by private law acting as a mutual benefit body - constituted State aid under the Treaty on the Functioning of the EU, in a judgment delivered on Tuesday, 19 March (joined cases T-98/16, T-196/16, T-198/16).
In 2013, the Italian bank Banca...