• Brussels.EU leaders close landmark deal with $ 390 billion in direct transfers
  • Conference of Presidents Pedro Sánchez announces to the regional presidents that he will assume the distribution of EU funds

Spain has asked the European Commission for access to the European instrument for mitigating unemployment risks , known as SURE , to receive more than 20,000 million euros. This allows financing with community loans the support programs for workers, freelancers and companies.

The SURE was one of the three new mechanisms launched at the European level, together with the precautionary line of the European Stability Mechanism and the guarantees of the European Investment Bank (EIB), to provide a health, economic and social response to the effects of the pandemic.

The program will mobilize a maximum of 100 billion euros at the community level and will be financed with European Union debt issues on the market. Member States contribute to the instrument by providing guarantees for debt issues.

In the case of Spain, this instrument will finance programs such as the Temporary Employment Regulation Files (ERTE), both with regard to the benefit received by the worker and the social contributions that the employer saves; the extraordinary benefit for cessation of activity for the self-employed, as well as the temporary disability benefit for people who have been on leave as a consequence of the Covid-19 or the support for discontinuous permanent workers, particularly in the tourism sector.

The final amount to receive will depend on the volume requested by the other countries interested in this program. Once the final amount has been determined by the Council of the EU, at the proposal of the European Commission, the credit will be disbursed to the States that request this instrument in several tranches. The first of them could be received in autumn 2020 and the rest from 2021.

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  • Spain
  • European Comission
  • European Union
  • Unemployment

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