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EU Confirms Madeira Free Trade Zone Violations

The European Commission’s decision on the aid regime for companies in the Madeira Free Trade Zone (MZF), identifies a number of violations of Community and national legislation. The document was published yesterday in the Official Journal of the European Union.

Miguel Albuquerque said this afternoon that the European Commission’s report on the Madeira Free Zone, did not add anything new,  and was merely the consequence of other financial centre lobbying.

Commenting on today’s JM headline, the President of the Regional Government said that the Portuguese State and the Regional Government are committed to contradicting the “nonsense” contained in the report, which only harms the companies operating from the site.

Samantha Gannon

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