Image default
Greek News

European Commission to release 37 billion euros to support EU27 states in light or coronavirus epidemic

The European Commission has given the green light for fiscal flexibility to EU27 to deal with the effects of the coronavirus pandemic.

The President of the Commission, Ursula von der Leyen said that 37 billion euros would be funnelled to to the European Union members states who would have “maximum flexibility” in fiscal rules and state subsidies to tackle the economic impact of the coronavirus epidemic. The President of the Commission also denounced the closing of the borders between members to combat the epidemic.

The European Union will launch a 37 billion-euro investment initiative as part of a package of measures to protect the Union’s economies against the impact of the coronavirus epidemic, she added during a press conference.

The European Union will also guarantee EUR 8 billion in loans to 100,000 businesses to support the business sector, she added.

also read

Soldiers on the streets of Albania to enforce coronavirus measures

Global markets in panic amid coronavirus outbreak – Athens Stock market drops by over 10%

Σχετικα αρθρα

Esty shares soar as people turn to face masks (infographic)

admin

The neoliberal era is ending. What comes next?

admin

Greek Exports at record highs in 2019 despite global turbulence

admin

Primary budget surplus over double the forecast for 10-month term

admin

Jobless rate falls in May to 17.2%

admin

Wall Street Journal editorial: “A Greek Economic Revival”

admin

Greek bonds hit new historic low breaking the 1.4% threshold

admin

Turkish tourism collapses under the pressure of the coronavirus impact

admin

Greek GDP revised to 2.4% in 2020: European Commission winter report

admin

The Billion-Dollar Content Race (infographic)

admin

U.S. Retail Sales Drop to Lowest Level Since 2012 Amid Lockdown (infographic)

admin

The Mitsotakis fiscal revolution: Daily Telegraph

admin

Draghi: Greece to be in QE if progress continues

admin

The 10 most innovative countries in the world (infographic)

admin

ESM allows Greece early payment of expensive IMF loans

admin

Unemployment Rate in U.S Jumps to Highest Level Since WWII (infographic)

admin

Greece has lowest rental and housing price rises, Eurostat data shows

admin

PM Mitsotakis holds private lunch with entrepreneurs for Chinese President Xi Jinping

admin