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European Union: Council Adopts Temporary European Instrument “SURE” to Help Protect Jobs amid COVID-19 Pandemic

(June 16, 2020) On May 19, 2020, the Council of the European Union (Council) adopted “SURE,” a regulation establishing a European instrument to provide temporary financial support to mitigate unemployment risks caused by the COVID-19 outbreak. Under SURE, the European Union (EU) will temporarily provide loans not exceeding 100 billion euros (€) (about US$113.5 billion) […]

European Union: Commission Proposes Temporary European Instrument (SURE) to Help Protect Jobs Amid COVID-19 Pandemic

(Apr. 24, 2020) On April 2, 2020, the European Commission (Commission) published a proposal for a regulation on the establishment of a temporary instrument for “support to mitigate unemployment risks in an emergency” (SURE) following the COVID-19 outbreak. The proposal, which has its legal basis in article 122 of the Treaty on the Functioning of […]