Op-Ed: “The challenges of COVID-19 on the scope of the freedom of circulation of capital (Article 63 TFEU)” by Ricardo García Antón
COVID-19 has put the need for strong EU-coordinated political action on the table. On the one hand EU solidarity must inspire suitable mechanisms to alleviate the disastrous economic and financial consequences of the pandemic. On the other hand, the protection of the public health of European citizens is vital. Therein lies the goal of the recent Guidelines of the European Commission to keep EU companies and critical assets afloat in areas such as health, medical research, biotechnology and infrastructures.
Such protection of strategic companies and assets is channelled through the screening mechanism to prevent a foreign investor from acquiring or taking control over a company that could undermine Europe’s security or public ord