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EU could clear state aid for chip production amid global shortage -Breaking


© Reuters. FILE PHOTO – EU flags fly in front of Brussels’ European Commission Headquarters, Belgium on October 2, 2019. REUTERS/Yves Herman/File Photograph

BRUSSELS (Reuters), – In the face of a severe shortage in semiconductors, the EU may allow state aid to be approved by the EU.

Margrethe Vestager, European Parliament spoke out saying that the Commission might approve public funding to help fill any gaps in the European semiconductor ecosystem. This would be for the establishment of “first-of-its kind” facilities in Europe.

As the supervisor of antitrust policies in 27 EU member countries, the Commission would like to see that such support is subject to strict competition safeguards, and that benefits are shared broadly and without discrimination throughout the European economy.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.