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The European Union's SURE plan to safeguard employment: a small step forward

2 monthes ago   |   By Bruegel

The European Union's new instrument, the so-called temporary Support to mitigate Unemployment Risks in an Emergency , will provide temporary support of up to €100 billion in loans to EU countries that request financial assistance to fund job-saving initiatives. While the creation of the instrument has generated a lot of interest, its main benefit is to show that, if needed, the EU can create a borrowing capacity and issue a common safe asset. In terms of having a significant impact on the EU's fiscal response to the COVID-19 crisis, however, SURE is too modest, and should be evaluated as...
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