COVID-19 has brought much of the European economy to a halt. Despite the deployment of various EU measures to mitigate the economic effects of COVID-19, bankruptcy for many companies may be imminent.
Significant consolidation in various industries is therefore likely. Facilitating such consolidation seems warranted: not to do so risks a colossal exit from the market of assets that are core to the European economy (e.g. in the tourism, aviation, technology and retail industries), and an attendant increase in unemployment.
