Italy COVID-19. An overview, in English, of the Decree-Law n. 34 of 19 May 2020 s.c. ‘Relaunch’
The D-L ‘Relaunch’ was published on the O.J. n.128 of 19 May 2020.
It is a very long piece of legislation (more than 250 articles), therefore Telos A&S is not reporting all the measures. You will find the most important in this order:
- Aid to businesses
- Liquidity support to businesses: additional funds allocated to assist loans with the State’s guarantee
- Income support schemes
- Tax cuts
- Financial support to Regions and local administrations – among others, to allow them to pay their commercial arrears
- Support to the banking sector
- One (minor) regulatory change regarding NPLs
- Legalisation of undocumented workers and illegal migrants
- Additional funding for the NHS, particularly with a view to improving the capacity of ICUs.
Please note that the final version of the package, among many other things, allocates €1 billion to ensure Italy’s participation in the pan-European guarantee fund of the EIB group and in the EU instrument for temporary support to mitigate unemployment risks in an emergency (SURE).
The Decree-Law entered into force today, after its publication on the Official Journal and it will now be submitted to Parliament to be ratified and possibly to be amended.
Telos A&S drafted an overview, in English, of the main measures of the Decree-Law.
If you are interested to know more please contact Telos A&S at email@example.com
You may download the overview, in English, of the Decree-Law below
Download it here