EC proposes state-backed €100bn unemployment fund

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EC proposes state-backed €100bn unemployment fund

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Ursula von der Leyen President of the European Commission arriving at the European Council - Euro Summit of the European Leaders meeting and having a doorstep press media statement at the Forum Europa building in Brussels, Belgium. December 12, 2019 (Photo by Nicolas Economou/NurPhoto) | Nicolas Economou/NurPhoto/PA Images

The calls for a joint European fiscal response to coronavirus may, at least in part, have been answered. President of the European Commission Ursula von der Leyen announced a €100bn fund intended to protect employment and mitigate the economic effects of the coronavirus outbreak. The fund will be backed by €25bn from member states.

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