EU changes state aid rules/ Support for businesses and industries in difficulty
The European Commission is reviewing the regulatory framework for state aid, aimed at rescuing and restructuring companies in difficulty. This initiative aims to strengthen the European Union's industrial dominance and strategic autonomy in the face of growing international competition, notably from the US and China.
The new draft is now open for public consultation until 4 September. The plan aims to replace the 2014 rules, adapting them to modern geopolitical and economic challenges. For the first time, the steel sector is among the industries that will be eligible for state support. European governments will be able to rescue steel mills facing financial difficulties, provided that an appropriate restructuring plan is implemented.
At the same time, new businesses and innovative companies are exempted from strict solvency tests. The European Commission acknowledges that accumulated initial losses are a common phenomenon for new businesses and do not necessarily imply a risk of bankruptcy.
In addition, the definition of capital when assessing a company's financial condition is expanded. This allows for a more accurate assessment of the real risk of bankruptcy. During restructuring processes, it will be taken into account whether a company is on the path of decarbonization, electrification or digital transformation.
The existing 2014 framework was based on the principle that state bailouts should be an exception to protect healthy competition in the internal market. However, successive crises - from the pandemic and supply chain disruptions to the energy crisis caused by the war in Ukraine - have highlighted the EU's dependencies on third countries, such as its support for China for critical raw materials and microchips.
With the new proposal, the assessment of a state aid will not only take into account the effects on competition, but will also take into account the strategic importance of the company for the European economy. Resilience, financial security and the maintenance of production capacities in advanced sectors now become key criteria.
The Commission seeks to simplify and speed up procedures so that European businesses can recover faster and compete on a level playing field with global giants.
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