State aid in times of COVID-19: A practical overview of the coordinated response by the European Commission and Member States

The outbreak of the COVID-19 infection has an undeniably significant economic impact. Almost all Member States have already announced or implemented support measures for citizens or companies. State aid spending in the context of COVID-19 is increasing exponentially on a daily basis and in all industry sectors, with more than EUR 600 billion spent by Member States since the beginning of the outbreak. The European Commission is showing a much-desired flexibility and readiness through the adoption of a Temporary Framework to enable Member States to support the economy within the boundaries of competition law. Even so, companies must be aware of State aid risks and think twice before accepting state subsidies, tax breaks, state guarantees, R&D grants, etc. in the context of the COVID-19 outbreak. They may end up having to refund the State aid, increased with a substantial recovery interest rate. Join our Deloitte Legal specialists who will share its experience from acting on State aid matters during the financial crisis back in 2008-2009 and during the present COVID-19 crisis.(Live presentation was aired on 29 April 2020)