Concerning thread by @danny__kruger. One issue - which is very real in practice - is the restriction on CBILS lending to “undertakings in difficulty” (UIDs). That is to say, to businesses that were already in serious financial problems as of 31.12.19 (and are still).
The UK CBILS scheme was approved by the Commission on the basis that it wouldn’t cover UIDs as of 31/12/19. That reflects the restriction in the Commission’s temporary framework on grants/lending to such UIDs. (See 22.c and 25.h here ec.europa.eu/competition/st…)
The concept of a UID is a technical one (definition in Article 2(18) of the General Block Exemption Regulation). You need accounting data (and sometimes information about the size of the business and sometimes info about group companies) to be sure it doesn’t apply.
Hence delay: information needs to be provided and checked.
I think @EU_Commission needs to look at this again. The priority - as @danny__kruger rightly says - is to get the money out fast. If some lending/grants go to businesses who would have failed even absent Covid-19, that is a distortion - but a perhaps a distortion worth accepting.
NB @EU_Commission is getting a lot right here - swift aid approval decisions and generally sensible framework.
