European Council approves SURE but Hungary still on hold

EUrope_AS_575x375
By Lewis McLellan
28 Sep 2020

The European Commission has passed the final hurdle, obtaining the European Council’s approval for the 16 applications for Support to mitigate Unemployment Risks in an Emergency funding, allowing the Commission to begin raising the cash.

The Council gave its approval on Monday morning, granting €87.4bn of loans to 16 member states.

The programme was formally activated last week, following the ratification of the national guarantees by all 27 member states. This process took longer than expected and the programme was initially expected to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial