Government handouts threaten Europe’s single market

two here, a giant government cheque there: the money doled out by European governments to support businesses is starting to add up. Some €2trn or so has been earmarked to keep firms afloat. The early beneficiaries included bakeries, bookshops and the like. Now it is increasingly the turn of corporate titans. This week France announced an €8bn package to support its carmakers, including a large loan to Renault.

The rules have been quietly shelved as Europe grapples with covid-19. Giving governments a temporary reprieve was unavoidable as national exchequers battle to stave off depression. But it also carries long-term dangers. Even before the crisis, France and Germany railed against European rulings that they say prevented the creation of corporate champions able to compete with rivals from China and America. Now they may seize the moment to try to water down competition rules permanently.

How to ensure that the necessary evil of bail-outs does not cripple the single market? They should be tolerated only when all other options have been exhausted. In America even cruise-liners—a challenged business model if ever there was one—have raised bonds and found new shareholders. Europe has shallower capital markets, but plenty of investors with money to spend.EU

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Well injecting some common sense into an extreme laissez faire model makes sense as the “we always know better” country that largely insisted on it leaves by the back door.

Brexit what have you done apart from to give the Germans and the French an excuse to subsidies their industry's and out preform tarrif affected WTO trading insulated small minded and selfish England

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