March 17, 2020 / 11:27 AM / 16 days ago

EU antitrust chief unveils state aid scheme to help virus-hit firms

BRUSSELS, March 17 (Reuters) - EU antitrust chief Margrethe Vestager on Tuesday proposed a temporary framework to allow EU countries to help companies hit by the coronavirus crisis, without the risk of breaching the bloc’s rules against unfair subsidies.

The measures, expected to be in place in the coming days once they are agreed by the 27 EU countries, include allowing governments to offer grants or tax advantages up to 500,000 euros to ailing companies. (Reporting by Foo Yun Chee; editing by Francesco Guarascio)

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