Luis Garicano 🇪🇺🇺🇦 Profile picture
May 25, 2021 19 tweets 6 min read Read on X
Llevo meses alertando de las irregularidades en el rescate a Plus Ultra. He presentado una denuncia ante la Comisión Europea y el Gobierno ha tenido que dar explicaciones.

Tras estudiarlas a fondo, me reafirmo: Es una ayuda de Estado ILEGAL. Abro HILO con la investigación🔎 1/19
Contexto: tras mi denuncia ante la Comisión Europea por ayuda de Estado ilegal a Plus Ultra, el Gobierno ha enviado sus explicaciones a la Comisión. Presentamos nuestra respuesta el 20 de mayo y hoy la vamos a compartir con vosotros. 2/19
Hay 4 argumentos clave sobre Plus Ultra que explico en mi escrito:
👉 No es una empresa estratégica
👉 Estaba en crisis antes del Covid
👉 No es viable: no podrá devolver el dinero en 7 años
👉 La ayuda es manifiestamente desproporcionada
3/19
NO ES ESTRATÉGICA
⭕ Tiene 4 aviones y solo vuela a 3 países
⭕ Cuota de mercado del 0.1% del mercado aéreo español (0.2% si solo se consideran empresas 🇪🇸)
⭕ En las conexiones Madrid-Latinoamérica (su mercado geográfico) tiene la cuota de mercado más pequeña: 1.5%
4/19
¿Y, por qué es un problema que no sea estratégica?
👉 Porque va en contra de la Sentencia del Tribunal General de la UE
👉 Porque es arbitraria: si Plus Ultra no es estratégica, pero ha recibido una ayuda millonaria, ¿Por qué no la recibe un bar o un hotel?
5/19
PLUS ULTRA ESTABA EN CRISIS ANTES DE LA PANDEMIA
❌La UE autorizó al Gobierno a dar ayudas estatales siempre y cuando la empresa NO estuviese en crisis
🧑‍⚖️ ¿Cómo se sabe si está en crisis? Si las pérdidas acumuladas han hecho desaparecer más de la mitad del capital suscrito 6/19
⭕ Desde su creación en 2015, Plus Ultra no había tenido beneficios ningún año (en 2019, antes de la pandemia, tuvo 2.7M de pérdidas)
⭕ Acumulaba 13M de pérdidas, es decir más de la mitad de su capital suscrito (19.2M) 7/19
Para cumplir con el requisito y recibir la ayuda, Plus Ultra utilizó un préstamo participativo SIMULADO de €6.3m que le dio la empresa panameña Panacorp. Os explico el truco en el video (aviso: huele fatal) 8/19
UNA AYUDA MANIFIESTAMENTE DESPROPORCIONADA
Según la ley, la ayuda no puede ser mayor a las pérdidas de capital sufridas entre 31/12/2019 y el momento de la solicitud, el 02/09/2020. En el caso de Plus Ultra, consta que, a finales de octubre de 2020, había perdido, 16.3M
9/19
El Gobierno le ha dado una ayuda ¡3 veces mayor que la cantidad legalmente permitida! a una empresa controlada por personas de dudosa reputación 10/19
RIESGO DE QUE EL DINERO NO SE DEVUELVA

Plus Ultra dice que recuperará su nivel de actividad en 2022, pero organismos internacionales de aviación civil estiman que en el mejor de los casos será en 2024
👉 los vuelos internacionales fuera de la UE serán los que más tarden 11/19
Incluso con unas estimaciones tan optimistas, Plus Ultra espera perder 34M entre 2020 y 2022.

¿Cómo va a poder cubrir el agujero de pérdidas acumuladas y devolver €53m en 2026 (como se ha comprometido con la SEPI), sabiendo que jamás ha generado beneficios? 12/19
LA TRAMA VENEZOLANA

Si Plus Ultra no es estratégica para España y no cumplía las condiciones para recibir la ayuda… ¿para quién es estratégica? 13/19
Los accionistas de Plus Ultra están relacionados con investigaciones por corrupción y blanqueo de dinero. 14/19
La ex fiscal general de Venezuela ha acusado al Presidente y accionista de Plus Ultra, Rodolfo Reyes, de operar compañías corruptas en beneficio de Nicolás Maduro 👇15/19
En conclusión, las explicaciones del Gobierno ante Bruselas no solo no eliminan las sospechas, sino que confirman todos los extremos de mi denuncia 👇
16/19
Voy a ser muy claro: El Presidente del Gobierno y los ministros implicados deben dar explicar a todos los españoles y asegurar que la ayuda pagada del bolsillo de los contribuyentes no acaba en una cuenta en Panamá. 17/19
Esta mañana he dado una rueda de prensa donde explico con detalle todo el caso. Podéis verla aquí 👇18/19
Y aquí podéis ver el escrito de alegaciones que he enviado a la Comisión 👇 19/19
luisgaricano.eu/wp-content/upl…

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Luis Garicano 🇪🇺🇺🇦

Luis Garicano 🇪🇺🇺🇦 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @lugaricano

Feb 16
This Draghi piece is a quiet indictment on the @EUCommission's failrue on its core Treaty mandate: "establishing the internal market" & ensuring "free movement of goods, persons, services and capital."
A thread with the facts adn saying the quiet part out loud
1/ Image
PRICES:
IMF shows EU internal barriers =
- 45% tariff on manufacturing,
- 110% on services.

As services become more important in the economy, barriers on service trade create an even bigger drag on growth.

2/
ft.com/content/13a830…
PRICES:
Trade costs in services have fallen more for non-EU imports (16%) than within the EU (11%) since mid-1990s.

This shouldn't happen in a truly integrated market.
3/
Read 9 tweets
Feb 15
The Italian SuperBonus: How a badly designed fiscal "stimulus" ballooned to 6 times its budget to cost 12% of Italy's GDP, and what it tells us about the fiscal governance of Europe.

A thread on my Silicon Continent post.
(1/11) Image
In 2020, Italy launched a program to subsidize 110% of home renovation costs. The objective was to improve energy efficiency and stimulate an economy.

Initially budgeted at €35B, it will end up costing €220B.
(2/11)
siliconcontinent.com/p/how-to-incin…
As any economists would have pointed out, the program creates perverse incentives: the homeowner and the builder share the incentive to make the biggest renovation possible.
Indeed @lucianocapone (hero of this story) wrote it the day it was approved
3/ ilfoglio.it/economia/2020/…Image
Image
Read 11 tweets
Feb 7
The Netherlands is Europe’s best-governed country. Unfortunately, it is paralyzed. Construction is freezing up, and Europe’s most valuable tech company (ASML) is threatening to leave. What happened should be a warning for every other EU member state. THREAD (1/11) Image
2/ The EU's Habitats Directive required protected nature areas with strict nitrogen thresholds. The Netherlands spread these areas out.

Emissions limits are now breached across the country. Link to today’s post by @pietergaricano:
siliconcontinent.com/p/target-price…
3/11 In 2019, courts ruled the govt’s approach illegal and construction was frozen.

The govt announced a plan to spend 2% GDP to mitigate emissions.
Read 11 tweets
Jan 15
🧵While Brussels dreams up new billion-euro funds, businesses suffocate under red tape. Draghi's report maps our regulatory labyrinth, yet prescribes more debt as the cure. France now pays higher rates than Greece. Here's the story.
(From my Silicon Continent post today)
1/10 Image
Over the last decade, we've witnessed an unprecedented debt explosion. Just energy crisis measures cost €651bn in 16 months.

Yet EU growth remains anemic. Our supposedly "neoliberal" era has paradoxically increased business regulations and constraints.
siliconcontinent.com/p/focus-on-the…
The alternative can be seen in the countries forced to reform during the euro crisis. Greece, Ireland, Portugal, and Cyprus have outperformed the eurozone in growth and job creation for a decade. Not from debt - from structural reform. Image
Read 10 tweets
Dec 18, 2024
1/10 Europe just got a brutal wake-up call about green energy math. When wind & sun disappeared in December, electricity prices shot up 20X. Our current plans for batteries and storage won't solve this for decades. Here's the real numbers 🧵 Image
2/10 Case in point: December 2023's "dunkelflaute" in Europe. No wind, no sun. Result? Electricity prices spiked 20x in Norway, hit record highs in Netherlands, and led Spain's authorities to cut power to factories 🌑
Link to the post by @pietergaricano

siliconcontinent.com/p/intermittenc…
3/10 People confuse power (GW) with energy (GWh). A 1GW battery might sound as good as a 1GW nuclear plant. But batteries run for hours, nuclear runs forever. During a 4-day "dark doldrums," that nuclear plant makes 96GWh - while your battery is long dead.
Read 11 tweets
Nov 27, 2024
The ECB is handicapping its digital euro project (strict holding limits, no interest payments, and mandatory bank account links) in order to protect the current broken, inefficient, subsidized banking system.

Do we need banks?

My post today in Silicon Continent
🧵 Image
The ECB wants to give Europeans direct central bank accounts for payments. Their goal? Compete with Bitcoin and lower transaction costs by cutting out Visa/Mastercard fees. Sounds great... until you see the restrictions.
2/10
siliconcontinent.com/p/do-we-need-b…
They impose these restrictions to avoid financial instability (warning: usually this expression means a banker wants to pick your pocket).

Why protect banks when they're becoming obsolete? Non-bank players now handle mortgages, payments, corporate credit, etc.
3/10 Image
Read 10 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(