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 Commission approves Latvian guarantee scheme to support mid-sized and large exporting undertakings affected by #Coronavirus outbreak

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The European Commission has approved a Latvian guarantee scheme to support undertakings with export activities affected by the coronavirus outbreak. The scheme is expected to provide for guarantees going up to €160 million. The measure was approved under the State Aid Temporary Framework. The support, in the form of state guarantees on loans, will be accessible to mid-sized and large undertakings whose exports represent more than 30% of their annual turnover. The scheme aims at limiting the risk associated with issuing loans to exporting companies affected by the economic impact of the coronavirus outbreak, thus helping them to continue their activities and to carry out the investments necessary to maintain their competitiveness following the outbreak.

The Commission found that the Latvian scheme is in line with the conditions set out in the Temporary Framework. In particular, (i) it is limited in time; (ii) it provides for adequate remuneration of the guarantees; and (iii) the supported loans are limited to the amount that is needed to cover the beneficiaries' liquidity needs resulting from the coronavirus outbreak; (iv) it limits the risk taken by the state to a maximum of 90%; and (v) contains adequate safeguards to ensure that the aid is effectively channelled by the banks to the beneficiaries in need. The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions of the Temporary Framework.

On this basis, the Commission approved the measure under EU state aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here. The non-confidential version of the decision will be made available under the case number SA.57655 in the state aid register on the Commission's competition website once any confidentiality issues have been resolved.

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Scotland extends hospitality restrictions until 2 November - PA Media

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Coronavirus restrictions in Scotland, which include the closure of pubs and restaurants in the central belt area and a curfew on indoor hospitality elsewhere, are to be extended until 2 November, PA Media reported on Wednesday (21 October), citing Scottish First Minister Nicola Sturgeon, write Sarah Young and Andy Bruce.

 

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Coronavirus risks running out of control in Germany, warns Soeder

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The leader of Bavaria’s Christian Social Union (CSU), Markus Soeder (pictured), warned on Wednesday (21 October) that the coronavirus is at risk of spiraling out of control in Germany, writes Paul Carrel.

While Germany’s infection rates are lower than in much of Europe, they have been accelerating and hit a daily record of 7,830 on Saturday, according to the Robert Koch Institute.

“Corona is back with full force ... the second wave is here,” Soeder told the Bavarian state assembly, adding caution and prudence were required.

On Tuesday, residents in the Bavarian district of Berchtesgadener Land went back into lockdown, the first area in Germany to do so since April.

Soeder said he nonetheless wanted to keep open borders with neighbouring countries. Bavaria borders Switzerland, Austria and the Czech Republic. He was also determined to keep the economy functioning and schools and nurseries open as long as possible.

“Our priority is to avoid a blanket lockdown,” he told the Bavarian state assembly, adding that he would introduce a “dark red” alert level with tougher restrictions for areas in Bavaria that have 100 new cases per 100,000 people over seven days.

Earlier, a spokeswoman for German President Frank-Walter Steinmeier said he was staying in quarantine at home until Oct. 29 after a bodyguard tested positive for the virus.

Steinmeier, whose role is largely ceremonial, has now twice tested negative for the virus, the spokeswoman added.

“There is light on the horizon,” said Soeder. “Of course, the vaccine will come, of course the situation will be very different in spring next year ... There is a tomorrow after corona.”

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Commission approves €2.3 million Czech scheme to support health SPA facilities affected by coronavirus outbreak in the Karlovy Vary Region of Czechia

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The European Commission has approved a CZK 62 million (approximately €2.3m) Czech scheme to support providers of SPA medical procedures and curative rehabilitation treatments in the Karlovy Vary Region (Czechia) in the context of the coronavirus outbreak. The measure was approved under the state aid Temporary Framework. The public support will take the form of direct grants. The scheme aims at mitigating the liquidity shortages that health SPAs in the region are currently facing due to the drop in the number of patients caused by the coronavirus outbreak.

This scheme complements a scheme to support health SPA facilities in the whole of Czechia that the Commission approved in August 2020  (SA.58018). The Commission found that the Czech scheme for the health SPA facilities in the Karlovy Vary Region is in line with the conditions set out in the Temporary Framework. In particular, the support (i) will not exceed €800,000 per company as provided by the Temporary Framework; and (ii) will be granted no later than 30 June 2021.

The Commission concluded that the scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions of the Temporary Framework. On this basis, the Commission approved the measure under EU state aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here.

The non-confidential version of the decision will be made available under the case number SA.58198 in the state aid register on the Commission's competition website once any confidentiality issues have been resolved.

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