[ad_1]
Germany has already provided € 3bn to Adidas’ sportswear industry, a € 1.8bn loan to TUI travel giant, while negotiating with Lufthansa management for the terms of a state aid of € 9bn to € 10bn. of euros.
The EU risks an uneven recovery that will lead to unfair competition, cracks in the single market and a deeper gap between rich and poor member states. The vehicle for such a combination of negative events may be the decision made in mid-March by the European Commission to suspend the state aid ban.
The Commission’s original initiative was to give Member States the opportunity to support their wintering industries. The result, however, is that those countries with the capital they need are making the most of the opportunity, while the poorest countries in southern Europe cannot keep up. It is noteworthy that Germany already has a share of the lion, as it represents 52% of state aid for a total value of 1.9 trillion. Euros approved by the Commission since mid-week.
This is followed, of course, by the second and third economies in the euro zone, France and Italy, which account for 17% of each approved state aid. Inevitably, reactions have already been expressed from the capitals of southern European countries, who believe that with this new strategy the Commission will face unfair competition from industries in northern countries, while their economies will recover less clearly. and clarity later, since they do not have the capacity to support them with public money.
Speaking to Reuters on condition of anonymity, a Spanish government official said he saw “a clear risk that Europe’s single market would break” and stressed that “not all single market countries have access to liquidity as much as Germany , who has a lot of money in his pockets. ” her “.
In fact, Germany has already awarded € 3 billion to the sportswear industry Adidas, a € 1.8 billion loan to travel giant TUI, while negotiating with the Lufthansa administration the terms of a state aid of € 9-10 billion. . Euro Indicative of the potential of the prosperous countries of Northern Europe was, after all, the request submitted by the Netherlands to the Commission, when negotiations with the Member States were still ongoing, under the terms under which it would agree to “freeze “the ban on state aid. The Netherlands has specifically requested an extension of the period during which they will be able to strengthen their industries. Similarly, Austria last week asked Competition Commissioner Margaret Vestager to suspend all legislation governing state aid for the duration of the current crisis.
In contrast, of course, Spain, which has pressured the Commission to set some limits to prevent the single market from weakening. He also called on European countries to show greater solidarity with Germany in support of a joint effort to finance actions to ensure recovery across the eurozone.
[ad_2]
