Nearly 200 subsidy schemes and bail-outs worth over €2trn ($2.2trn), equivalent to Italy’s GDP, have been cleared by eurocrats
member state’s request to derogate from the rules against subsidising domestic industry. Not these days. Since the outbreak of covid-19 roiled economies everywhere, requests to circumvent “state-aid” rules are often approved in under 24 hours, even on weekends. A trickle of demands from all over the bloc has turned into a flood.
Tensions have long brewed between that bit of the commission, overseen since 2014 by Margrethe Vestager, the competition commissioner, and some member states. France and Germany have repeatedly demanded competition rules be bent to allow the creation of “European champions”. They were furious last year when Ms Vestager blocked the planned merger of the rail bits of Siemens and Alstom.
Politicians are busy untilting the playing field. On May 27th Ursula von der Leyen, the commission’s president, unveiled a €750bn package of loans and grants that will redistribute money from those with the ability to pay to those struggling to . National capitals will now haggle over a final deal.’s wish-list for years. As for long-term risks to the state-aid regime, she emphasises that the easing of the rules is temporary.
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