Brussels, 08/04/2005 (Agence Europe) - The Commission has ruled that the Italian aid regime to cover the risk in loans used for the building and conversion of ships in Italian shipyards constitutes illegal State aid. Commissioner Neelie Kroes said in a press release that “if it had been implemented, this regime of guarantees would have brought about considerable negative effects for rival European shipyards, because it does not require sufficiently high collateral and does not provide...