EU takes steps to respond to the pandemic – Eurogroup

EU takes steps to respond to the pandemic - Eurogroup


Eurogroup President Paschal Donohoe said on Friday (16) that the European Union (EU) has the tools and measures to respond to the coronavirus pandemic and support job recovery.

"We are facing and dealing with so many things within the European Union during this pandemic, but we are making progress; we have the tools and measures necessary to enable the Union to respond to this pandemic and to support our citizens in the reconstruction of their jobs and income, "said the Irish politician.

According to the EFE agency, the president of the Eurogroup added, before a videoconference held this Friday by ministers of finance in the Eurozone, that this is "the constant theme in all Eurogroup meetings at this time".

Among the measures that the community club approved to respond to the economic crisis of the coronavirus is the recovery fund of 800 billion euros (in current prices), whose implementation may be delayed after the appeal filed with the German Constitutional Court against the legislation that ratifies it in that country.

In addition, the SURE fund was created, with EUR 100 billion in loans to cover mechanisms for reducing working hours, such as the Portuguese lay-off, while Member State governments also approved their own plans national aid agencies.

At Friday's meeting, ministers will discuss how to bring the different national insolvency laws together, an issue that has been on the table for years and is gaining importance in view of the expected increase in company bankruptcies. once pandemic aid is withdrawn.

Work on the banking syndicate and the digital euro is also on the agenda, although concrete decisions are not expected in any of these areas.

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