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European Commission Proposes State Wage Support Program

Published 04/01/2020, 06:59 AM
Updated 04/01/2020, 07:36 AM
© Bloomberg. A pedestrian walks past a closed tapas bar, left, and restaurant in Madrid, Spain, on Monday, March 16, 2020. The State of emergency declared by the Spanish government to fight the coronavirus outbreak will be extended beyond the 15 days effective from March 14, Transport Minister Jose Luis Abalos said in an interview with state-controlled radio station RNE. Photographer: Angel Navarrete/Bloomberg

(Bloomberg) -- The European Commission is proposing a wage support program named SURE, Ursula von der Leyen says in a tweet. The instrument would be guaranteed by all EU states and aid those members most affected by the coronavirus, such as Spain and Italy.

It would aid a quick recovery by keeping people employed during times of a temporary demand-induced economic shock.

©2020 Bloomberg L.P.

© Bloomberg. A pedestrian walks past a closed tapas bar, left, and restaurant in Madrid, Spain, on Monday, March 16, 2020. The State of emergency declared by the Spanish government to fight the coronavirus outbreak will be extended beyond the 15 days effective from March 14, Transport Minister Jose Luis Abalos said in an interview with state-controlled radio station RNE. Photographer: Angel Navarrete/Bloomberg

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