Any transfer of power from a national regulator to an EU regulator on financial services would be subject to a veto.
The EU regulators said the loan of public money might give Alitalia an unfair advantage over competitors.
Other EU regulators have a policy of transparency.
Facebook's integration of face recognition technology into its photo tagging feature has EU regulators concerned over possible privacy violations.
EU regulators are also examining Google's practices with respect to advertising sales and search ranking for competing online services.
EU regulators have been cautiously welcoming of the SIN List.
The US Department of Justice quickly began investigating the transaction, as did EU regulators.
EU regulators are concerned about the risks that may be run, while the investment industry is attracted by the commercial opportunities of tapping into this trend.
It is an interesting challenge to find the right balance between leaving the national regulatory authorities alone to do their own thing and to create an EU regulator.
When the lights go out, when hospitals have no power, national interests are going to prevail irrespective of orders from the proposed EU regulator.