Siemens Energy shares plunge as it seeks government bailout

theguardian.com

12 points·monero-xmr··7 comments

I am surprised by this, aren't Government help forbidden by EU rules? France has gotten into trouble in the past for directly helping its main energy producer[0] or its rail service[1]. Or maybe this is just a loan in this case?

[0]: https://ec.europa.eu/commission/presscorner/detail/en/IP_15_... [1]: https://www.railwaygazette.com/freight/fret-sncf-to-be-wound...

Its forbidden for everyone except Germans.

State aid: Commission approves €6 billion German measure to recapitalise Lufthansa https://ec.europa.eu/commission/presscorner/detail/hu/IP_20_...

Lufthansa and German government agree on $9.8 billion https://www.cnbc.com/2020/05/25/lufthansa-and-german-governm...

From post-Covid turbulences also AirFrance-KLM with similar amount and soon Finnair with a fraction of it, also Norwegian...

AFAIK Lufthansa got just loans and already paid them back.

There are ways around it, the government could make the company public. Much like the hell that's going on in Portugal, where the government bought the only national airline company.

As I have mentioned earlier, the EU is a project to enable new markets for mostly German and French, and some Italian and Dutch companies, at the cost of consumers in Eastern and Southern Europe.

Reading the news, it's not a loan, it's a bailout.

Remember kids don't breathe in the gas you're selling!

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