European Union Canvasses Members to Agree State Support to Failing Businesses

European Parliament Building Strasbourg Credit: European Parliament

WHILST there are in theory strict controls imposed on members states by the EU with regards to support of local businesses it has decided that as a ‘measure of last resort’ this may be overlooked if all governments agree.

The intention is that with the drop in value of shares due to the coronavirus Covid-19 pandemic, still wealthy foreign governments may attempt to take over weaker companies and this is something that the European Union wants to block.

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It therefore wants to allow temporary state control by injecting funds into vital companies.


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