State Aid

    • Lufthansa to get €9bn state rescue aid

      Lufthansa to get €9bn state rescue aid

      Lufthansa is in talks over a €9bn state bailout that would result in Germany taking a 20% stake in the airline, news wires reported. The deal would involve the government taking two seats on its supervisory board, but it would only exercise its full voting rights in exceptional circumstances, such as to protect the firm against a takeover.

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    • Lufthansa hopeful on deal for German state aid

      Lufthansa hopeful on deal for German state aid

      Europe's biggest airline group Lufthansa said it was close to a deal with the German government on state aid to ease the impact of the coronavirus crisis. The group, which warns it is bleeding cash and might have to declare insolvency, had appeared to be stalled in its bid for up to €10 billion ($11 billion) in aid, according to a report in the weekly Der Spiegel.

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    • Hungary to unveil pandemic fund on Saturday

      Hungary to unveil pandemic fund on Saturday

      Hungary will introduce a new pandemic fund on Saturday and work out the details of the country’s biggest economic stimulus package by Tuesday, Prime Minister Viktor Orban announced, adding that the plans focus primarily on employment. For instance, healthcare workers will receive a 500,000 forint ($1,500) bonus this year to compensate them for the extra workload and risk that fighting the coronavirus entails.

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    • Serbia to invest €5bn to cope with coronavirus impact

      Serbia to invest €5bn to cope with coronavirus impact

      Serbia is planning on offering about €5bn in loans and subsidies to businesses to help them cope with the economic impact of the coronavirus, President Aleksandar Vucic said. As announced by Vucic, the state will also make a one-off payment of €100 to every Serbian citizen older than 18, or the entire electorate consisting of 5 million people.

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    • German MPs pass huge coronavirus aid budget

      German MPs pass huge coronavirus aid budget

      German lawmakers approved on Wednesday an emergency budget financing a coronavirus aid package that foresees €156bn in new debt, in a historic move that flouts the country's long-held fiscal rules. The record debt covers €122.8bn in aid for businesses and health services. It also takes into consideration an expected drop of around €33.5bn in tax revenues as the pandemic takes its toll on Europe's largest economy.

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    • Commission to launch evaluation of EU State aid rules

      Commission to launch evaluation of EU State aid rules

      The European Commission has launched on Monday an evaluation of the EU State aid rules applicable to services of general economic interest in the field of health and social services, such as medical care provided by hospitals, long term-care, childcare and social housing as these services form an essential part of the welfare system of each Member State.

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