Billion for the company: EU Commission approves German rescue

The competition authorities of the EU Commission, approved by the Federal government furnished bailout for the company. They concluded that with a Budget of 600

Billion for the company: EU Commission approves German rescue

The competition authorities of the EU Commission, approved by the Federal government furnished bailout for the company. They concluded that with a Budget of 600 billion euros-equipped economic stabilization Fund (WSF) with the in the Corona-crisis relaxation of EU rules in line, as the authorities in Brussels announced on Wednesday. There are distortions, therefore, no disproportionate competition to expect.

the objective of the Fund is to provide companies with the capital, the are in the Corona of a crisis through no fault in trouble. To do this, there should be a guarantee framework of EUR 400 billion, to help refinance themselves on the capital market. In addition, a credit authorization over 100 billion euros for the direct recapitalisation of companies, as well as a further credit authorisation over 100 billion Euro to the funding of the special programmes of the Kreditanstalt für Wiederaufbau (KfW) are provided. The up to 100 billion euros for the funding of all state aid measures, the Commission had approved already.

the WSF wants to bring the Federal government, for example, the Lufthansa by the crisis. The airline is faced with considerable difficulties, because the Corona pandemic has brought to the business of the company, with the exception of the cargo almost to a Standstill.

"The state is sufficiently

The Brussels authority had relaxed the rules for state aid due to the Corona-crisis, significantly the last. You don't Wake up, however, is more about support packages for the distortions to disproportionate competition in the single market.

Updated Date: 08 July 2020, 06:19

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