European instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE)
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The Commission has proposed a new instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE). It will allow for a financial assistance up to EUR 100 billion in the form of loans from the EU to affected Member States.
The SURE instrument will be available to Member States that need to mobilise significant financial means to fight the negative economic and social consequences of the coronavirus outbreak on their territory. It will provide financial assistance to Member States to address sudden increases in public expenditure for the preservation of employment. Specifically, the SURE instrument will act as a second line of defence, supporting short-time work schemes and similar measures, to help Member States protect jobs and thus employees and self-employed against the risk of unemployment and loss of income.
The establishment of SURE is a further tangible expression of Union solidarity, whereby the Member States agree to support each other through the Union by making additional financial resources available through loans.