Amendment to the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak

Summary:

Communication published by the European Commission on 8 May 2020, which identifies additional temporary State aid measures that the Commission considers compatible under Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU) in light of the COVID-19 (coronavirus) outbreak.

Further information:

The Commission adopted a Temporary Framework for State aid measures during the pandemic on 19 March 2020, followed by an amendment on 3 April which extended the scope of that same Framework.

The second amendment set out by the present Communication complements the types of measures already covered by the Temporary Framework and existing State aid rules, by setting out criteria based on which Member States can provide recapitalisations and subordinated debt to companies in need, whilst protecting the level playing field in the European Union (EU).

• Primary Source

News

EurActiv, 07/05/2020: EU eyes green conditions on state aid to virus-hit firms https://www.euractiv.com/section/energy-environment/news/eu-eyes-green-conditions-on-state-aid-to-virus-hit-firms/

Reuters, 08/05/2020: Ban on dividends, share buybacks for bailed-out EU firms https://www.reuters.com/article/idUSKBN22K2HH

EurActiv, 09/05/2020: EU decides: No green strings attached on cash to virus-hit firms https://www.euractiv.com/section/energy-environment/news/eu-decides-no-green-strings-attached-on-cash-to-virus-hit-firms/

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Official

European Commission: Press Release, 08/05/2020: State aid: Commission expands Temporary Framework to recapitalisation and subordinated debt measures to further support the economy in the context of the coronavirus outbreak https://ec.europa.eu/commission/presscorner/detail/en/ip_20_838

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ESO Records

European reaction to the outbreak of Coronavirus (COVID-19) https://www.europeansources.info/record/european-reaction-to-the-outbreak-of-coronavirus/

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