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Gentiloni hails EU's SURE fund to counter Covid-19 joblessness

19 maggio 2020 | 20.21
LETTURA: 1 minuti

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Italy's economy commissioner Paolo Gentiloni on Tuesday praised the introduction of the European Union's SURE emergency fund to help deal with a surge in unemployment amid the Covid-19 coronavirus pandemic.

"From today SURE is law. It will help fund instruments like redundancy schemes in the whole of Europe. This is something we have been waiting for for years," Gentlloni tweeted.

SURE is part of a 540 billion euro recovery effort. The fund allows EU member-states to ask for loans to fund big increases in public expenditure related to national short-time work and redundancy schemes as well help for self-employed workers hit by Covid-19's economic impact.

The European Commission will next week unveil a pandemic recovery plan worth over 1 trillion euros in a mix of grants and loans, its Vice President Valdis Dombrovskis said on Tuesday.

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