EU firms hit by coronavirus can get loans of up to 5% turnover: source

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Companies in the European Union hit by the coronavirus will be able to ask for a government loan of up to 5% of their 2019 turnover under a new measure proposed by the European Commission, a person familiar with the matter said on Sunday.

The move comes after several EU countries asked for it, other sources with direct knowledge of the matter told Reuters on Saturday, declining to provide details.

The EU executive has in recent weeks relaxed its state aid rules and nodded through trillions of euros via guaranteed loans, grants, subsidised interest rates and short-term export credit insurance offered to virus-hit companies across the bloc.

 

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The group, aged 14-17, had been halfway through a six week sail-study program in the region on board the 'Wylde Swan', which was built in 1920. But by mid-March, it appeared they could no longer fly home from Cuba as planned.

Loans? The EU doesn't have the balls to sue China and recover their losses. China killed people. And the corrupt EU politicians are teaming up with China and strengthening the enemy that killed their people. Shame on EU.

LiveSquawk Why revenue? Doesn’t this overly benefit shitty companies with low margins?

if you have a business - just open it. flu is not that deadly after all

LiveSquawk

Wow

Trying to stop a wave with fingers?

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