On Tuesday 1 June, the European Commission approved a €800-million Greek State aid package to support tourism companies whose activities are suffering from the effects of the coronavirus epidemic. This support was approved under the Temporary Framework for State Aid.
This aid is co-financed by the European Regional Development Fund (ERDF) and will be open to companies of all sizes that have experienced a fall in turnover of more than 30% in 2020 compared to 2019. The aid will take the form of direct grants, the maximum amount of each grant being up to 5% of the beneficiary’s annual turnover or €400,000 per company, whichever is lower.
The Commission found that the Greek aid complied with the conditions set out in the Temporary Framework. In particular, aid: – will not exceed €1.8 million per beneficiary; – will be granted by 31 December 2021 at the latest.
The Commission concluded that the measure was necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State. (Original version in French by Lionel Changeur)