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Real Economy: EU €100 billion scheme to tackle unemployment caused by COVID-19

The Coronavirus pandemic is having a huge impact on the European labour market. The International Labour Organization foresees the loss of 12 million full-time jobs in Europe in 2020.

date:  23/04/2020

See alsoThe EU's 100 billion euro scheme to tack...

The sectors most at risk include accommodation and food services, manufacturing, retail and administration. To mitigate the issues, the EU has put in place a scheme called SURE, which stands for Support to mitigate Unemployment Risks in an Emergency. It’s part of a €540 billion euro package to support European companies and workers. There is up to €100 billion available for the SURE scheme, supported by €25 billion in guarantees from EU members. States can apply for the cash after they’ve activated schemes to help those either in regular work or self-employed people who've lost income. The assistance comes in the form of a loan on favourable terms.