In response to the severe economic crisis triggered by Covid-19, state aid and a relaxation of competition rules, including merger control, have been proposed as policy options. There is a clear role for state aid in sectors experiencing a temporary shock, whereas state aid in sectors affected by a permanent long-term shock is more problematic. Merger control should not be relaxed and, in particular, any merger proposal invoking the failing firm defence requires close scrutiny.
Which role for state aid and merger control during and after the Covid crisis?
Fumagalli, Chiara;Motta, Massimo;
2020
Abstract
In response to the severe economic crisis triggered by Covid-19, state aid and a relaxation of competition rules, including merger control, have been proposed as policy options. There is a clear role for state aid in sectors experiencing a temporary shock, whereas state aid in sectors affected by a permanent long-term shock is more problematic. Merger control should not be relaxed and, in particular, any merger proposal invoking the failing firm defence requires close scrutiny.
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