The Eurogroup’s agreement on the COVID-19 Crisis Support Instrument

Submitted by Tedora Aibu on 12 May 2020

The European Commission has welcomed the Eurogroup’s agreement on the Pandemic Crisis Support instrument of the European Stability Mechanism. This plan will provide support to all countries in the Eurozone for the financing of healthcare, cure, and prevention costs posed by the COVID-19 pandemic. Commissioner for the Economy, Paolo Gentiloni, underlined several key points at the Eurogroup press conference on 8 May. The European Council has requested that this package, potentially worth more than half a trillion Euros, should be operational by the 1st of June. It was also mentioned that the European Commission is working on the next step of the common crisis response, a revised proposal for a multiannual financial framework (MFF) together with a well-funded, and strong recovery plan. 

To read more about the Eurogroup Statement on the COVID-19 Pandemic Crisis Support, please click here. © European Union, 1995-2020. 

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