Brussels, 29/06/2000 (Agence Europe) - The European Commission has decided to launch an investigation into a financial and tax aid scheme for the Madeira free zone (Portugal). It suspects that aid granted since 1 January 2000 is not in line with the guidelines on national regional aid. If so, it will be considered illegal and will have to be repaid.
The Madeira free zone comprises an industrial free zone, a financial services centre, an international services centre and a shipping register....