The European Commission authorised, on Friday 31 July, a Spanish plan to set up a fund (the Solvency Support Fund) with a budget of €10 billion to invest through debt and equity instruments in companies operating in Spain, in the context of the Covid-19 pandemic. The measure has been authorised under the Temporary Crisis Framework.
The Commission found that the measure taken by Spain was in line with the conditions laid down in the Temporary Framework. As regards recapitalisation measures,...