Swizzlestick wrote:He's like a robot.
I'm now quoting directly from the actual letter sent to the government from its legal advisors.
"
We cannot demonstrate the necessary commerciality required by State Aid Law to provide such support"
In other words , perhaps "simplistic",
The EU says, "No can do , UK"
"
There is no evidence that any earlier funding options involving government would have been lawful either"
In other words ,
The EU says, "No can do , UK"
"It would be unlawful to provide a guarantee or loan"
In other words ,
The EU says, "No can do , UK"
"We do not believe there is currently any level of investment government could make ( above the State Aid de minis of €200000 that could be deemed commercial and so legal"
In other words ,
The EU says, "No can do , UK"
It was not possible to fund a traditional loan financing that would be deemed to be successfully commercial to meet the State Aid commerciality threshold"
In other words ,
The EU says, "No can do , UK"
Your analogy with the axe and the neighbour is irrelevant if you simply look at what I'd said. Which simply saying the EU will not allow it. To use your analogy. You could if you wanted, axe your neighbour in the head. But by your own admission, and, mixing analogies, run the risk of all your other neighbours coming to you a axing you. Nevertheless, you're still forbidden, even if you go ahead and pay the consequences after. The EU is still saying, " No can do, UK"
Thanks for posting the tweet-
https://mobile.twitter.com/SimonClarkeM ... 1516826626" onclick="window.open(this.href);return false;
It proves my "simplistic" point to be accurate and correct and concurs with what Dr Ruth Bender, Associate Professor of Corporate Financial Strategy, said when she was interviewed on Radio 5 Live Breakfast show on 31st March.
"Do EU rules prevent state aid to save British Steel?
"Unfortunately, yes. The fact that all the economic factors go against the UK steel industry is not relevant, nor is the potentially devastating impact on the wider local economy were it to close. The EU has already ruled on this: in January 2016 the competition commissioner ruled that the Belgian government had illegally provided €211m to steel companies in one of its depressed regions, and ordered that the money be repaid. She also announced an investigation into €2bn of similar aid given by the Italian government to support its steel industry."
"The EU takes the view that State aid cannot be used if it distorts competition, and that EU regional funding is available to help with the social consequences of closing down industries that are uncompetitive."
