I tell you what...why don't you contact your local MP and ask the same question....
As I said..some countries ignore this..others don't (ie the UK)
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I tell you what...why don't you contact your local MP and ask the same question....
As I said..some countries ignore this..others don't (ie the UK)
I'd say it's more about interpretation of the rules rather than ignoring it or not. We choose to interpret the rules in a way that suits the ideology of this government. Other nations interpretation is different.Originally Posted by Maurice Swan
Not a lot of point in writing to my mp now is there?
That is what I said originally...the rules are that a government CANNOT bail out a failing company.....BUT some countries choose to take a different interpretation. I tell you what - I WILL contact my MP for the offiicial ruling and come back when received.
Maybe you can be troubled to do the same.
Isn't this a meaningless debate? £3 billion in debt & the £200 million had a life expectancy of 90 days. Just wasting money delaying the inevitable. Step back to when they were given their (annual) license to operate, how the feck did that get through the auditors?
Yes I agree.....that is another reason why no bailout.
The auditors don't assess whether they should get a license to operate. But I agree with your main point.
Do you think that Thomas cook should get a loan from govt? The state aid rules don't preclude that. But even if they did it would be a waste of public money to stand up a failed travel agen in any case.
A private company has gone bust due to poor management ,market pressure and strategic decisions that failed , it won't be first wont be the last . Its not like a steel company going and thousands of lives and comm unties suffer ,our taxpayers money is best served in funding public services ,this is just another example of blame and making political capital as Corbyn did today.
Help the folk stranded and move on ,perhaps these airline industries should get together and introduce their own insurance protection fund instead of enjoying decades past of profit .
Thomas Cook Northern Europe (Scandinavia) also back up-and-running due to bridging loan whilst looking for buyer.
Impossible, it is not allowed.
I wish these countries would check on this message board before they go ahead and do things like this, it would save them a lot of embarrassment in the long run
Who repays the bridging loan?
The company
unless they cannot afford to / go bankrupt
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