Berlin to bail out shipyard key to offshore wind ambitions
Berlin to bail out shipyard key to offshore wind ambitions
Talks to award credit lines and buy shares of ailing ship maker Meyer, who also produce key offshore equipment, amounting to €2.8 billion had progressed far, German Chancellor Olaf Scholz said on visit to the firm
Are they going to take an equity stake or just straight up welfare?
4Some conflicting reporting on that, but a few sources claim 80% equity stake.
But given how the German government has often sold those at a steep loss later on it doesn't make much difference IMHO.
4German government has often sold those at a steep loss later on
In US we are allergic to even doing the trick but I see your point and it is very valid.
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Public broadcaster ARD suggested that Berlin and the state of Lower Saxony, the heartland of the SPD where the shipyard is located, will buy up to €500 million worth of company shares each while providing guarantees for €1.8 billion in loans.
So, 1/3 equity and 2/3 sort-of-maybe welfare. IMO a solid industrial policy is both necessary for Europe and inevitable at this point.
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Goddammit, that headline, Missing commas really stirr this Up. headline should be "Berlin to bail Out shipyard, key to offshore Wind ambitions."
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