On Thursday 7 September, the European Court of Auditors reached its verdict on two EU loan guarantee programmes for innovative companies and SMEs. The verdict, “there are too many” SMEs that have benefited from these programmes that did not “really need them”. The judges also regret the lack of data provided by the European Commission about the impact of the two programmes.
The analysis of the Court focused on the InnovFin mechanism covering innovative enterprises, as well as the...