Commission proposes SURE, a new temporary instrument worth up to €100 billion to help protect jobs and people in work
These loans should be used by Member States to finance short-time work schemes for employees or similar measures for the self-employed.
Following a request by a Member State for financial assistance, the Commission would consult the Member State concerned to verify the extent of the increase in public expenditure that is directly related to the creation or extension of short-time work schemes and similar measures for self-employed. This consultation will help the Commission to properly evaluate the terms of the loan, including the amount, the maximum average maturity, pricing, and the technical modalities for implementation.
On the basis of the consultation, the Commission would present a proposal for a decision to the Council to provide financial assistance.
Once approved, the financial assistance will take the form of a loan from the European Union to the Member State requesting support.