COVID-19: Commission sets out European coordinated response to counter the economic impact Coronavirus

Mar 16, 2020

 

The European Commission has published a response to mitigate the socio-economic impact of the COVID-19 outbreak, centred on a European coordinated response. The Commission has said it will use all the instruments at its disposal to mitigate the consequences of the pandemic including full flexibility of State Aid. 

Some of the measures include; 

  • To ensure the necessary supplies to the health systems by preserving the integrity of the Single Market and of production and distribution of value chains.
  • To support people so that income and jobs are not affected disproportionally and to avoid permanent effect of this crisis.
  • To support firms and ensure that the liquidity of the financial sector can continue to support the economy.
  • To allow Member States to act decisively in a coordinated way, through using the full flexibility of our State Aid and Stability and Growth Pact Frameworks.

Read the full response