COVID-19: Council adopts temporary support to mitigate unemployment risks in an emergency (SURE)

The Council today adopted SURE, a temporary scheme which can provide up to 100 billion of loans under favourable terms to member states.

Metadata
Provider: 
ECEC
URL: 
http://www.consilium.europa.eu/en/press/press-releases/2020/05/19/covid-19-council-reaches-political-agreement-on-temporary-support-to-mitigate-unemployment-risks-in-an-emergency-sure/http://www.consilium.europa.eu/en/press/press-releases/2020/05/19/covid-19-council-reaches-political-agreement-on-temporary-support-to-mitigate-unemployment-risks-in-an-emergency-sure/
Retrieved on: 
Wednesday, May 20, 2020
Information
Tags: 
Organizations, Budget of the European Union, International organizations, World, European Union, Foreign relations of the European Union
Summary
Key Points: 
  • The Council today adopted SURE, a temporary scheme which can provide up to 100 billion of loans under favourable terms to member states.
  • EU leaders endorsed the report on 23 April and called for the package to be operational by 1 June 2020.
  • SURE loans will be backed by the EU budget and guarantees provided by member states according to their share in the EU's GNI.
  • Formally, the financial assistance will be granted by a decision adopted by the Council on a proposal from the Commission.
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