Real Economy: EU €100 billion scheme to tackle unemployment caused by COVID-19
date: 23/04/2020
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.