European Commission Approves Greek State Aid Regime Supporting Companies Affected by Coronavirus

The European Commission (EC) Aug. 27 issued Press Release No. IP/21/4101, approving the Greek state aid regime to support companies affected by the coronavirus pandemic. The regime includes measures to: 1) provide credits to be used for the payment of taxes and social security contributions due from July 1 through Dec. 31 for qualified companies affected by the pandemic; 2) explain uncovered fixed costs under the regime; and 3) set a maximum limit of 10 million euros (US$11.7 million) of aid per company. The EC found the regime compatible with the Treaty on the Functioning of the European Union (TFEU) ...