Strasbourg, 16/02/2006 (Agence Europe) - By adopting the own initiative report of Gunnar Hökmark (EPP-ED, Sweden), the European Parliament has given its support to the European Commission's objective of granting less and better targeted state aid as part of its action plan on state aid reform (EUROPE 8963). MEPs acknowledge that aid can “create significant market distortions” and should be an “instrument of last resort”. Nonetheless, they still emphasise its usefulness in the context of research and development, capital investment, environmental protection and regional development. They also suggest that the Commission elaborates a more precise definition of the concept of market failure and to shorten procedures that result from it, as part of application on Article 87. With regard to Services General Economic Interest (SGEI); MEPs again call on the Commission to “finally and clearly explain, what this means at a legal level”, particularly in relation to interpretation of the criteria for the Altmark ruling and the notion of overcompensation. They also outline the obligation of Member States to publish a list of beneficiaries and companies that have received subsidies. According to French Socialist Gilles Savary, Parliament had been keen to moderate the Commission's zeal for reducing the volume of aid. In a press release Mr Savary comments, “We must ensure, despite the current neo-liberal environment, that a brilliant industrial adventure such as Airbus remains possible in Europe”.