Coronavirus Response

May 2020 |

To cushion the blow to people’s livelihoods and the economy, the European Commission has adopted a comprehensive economic response to the outbreak, applied the full flexibility of the EU fiscal rules, has revised its State Aid rules and set up a €37 billion Coronavirus Response Investment Initiative to provide liquidity to small businesses and the health care sector. In addition, on 2 April, the Commission proposed far-ranging measures to mobilise every euro of the EU budget to protect lives and livelihoods. The Commission launched a new initiative called SURE - Support mitigating Unemployment Risks in Emergency, helping to preserve jobs and support families. It also proposed to redirect all available structural funds to the response to the coronavirus. Farmers and fishermen will also receive support, as will the most deprived of aid. An EU Solidarity for Health Initiative worth €3billion will cater for the needs of Member States’ health systems.

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