The EU agrees to support packages of just over SEK 5 billion

It took a long time for the finance ministers to agree. Already on Wednesday a message was expected. Then it would come on Thursday morning. But now, late on Thursday evening, the message finally came.

"Excellent agreement between European finance ministers on the financial response to the corona virus: EUR 500 billion available immediately," writes French Finance Minister Bruno Le Maire on Twitter.

Prior to the decision, the package was stated to include loans from the ESM support fund, guarantees from the EIB investment bank and a Commission proposal on short-term work, according to TT. Adding the aid packages that individual countries have already decided on will end the overall EU effort in what has been described as one of the world's largest financial aid efforts to date.

- This is a historical package that shows that Europe is able to unite. The crisis package will save European jobs and companies helping Europe through the crisis, says Finance Minister Magdalena Andersson (S).

TT: What was Sweden's entry into the negotiations?

- Above all, we think it is important for the European Investment Bank to be able to lend large sums, it will help Swedish companies, says Andersson.

Finance Minister Magdalena Andersson (S) emphasizes how important it is for Sweden that other EU countries can handle the crisis well.
- It is extremely important for Sweden that things are going well for the EU countries that have it tougher. The EU is our most important export market, she says.

According to the Swedish finance minister, the negotiations between colleagues from other countries were "very tough".
- One of the big questions has been whether the euro area countries should cover up for each other's opportunity to borrow money. That disagreement persists, you are still far from each other.

TT: Will this € 500 billion package be enough?
- It's impossible to say. But it is an incredibly large amount that will be a significant injection for the European economy, and will be of great help to those most affected.

The text is updated