SURE is to provide temporary financial support to EU member states to help mitigate unemployment risks related to the COVID-19 outbreak. It provides member states with EU loans on attractive terms, in particular for measures in the field of short-term work and comparable instruments.
To finance SURE, the European Commission needs guarantees from all member states in line with the percentage they account for of the EU’s gross income. The draft SURE Guarantee Act now adopted by the Cabinet is to empower the German government to provide this guarantee for Germany’s share of the total.
SURE (temporary support to mitigate unemployment risks in an emergency) is part of a package of measures adopted by the Eurogroup that was adopted by the Council on Tuesday and marks a milestone in European solidarity in the face of the coronavirus crisis. The financial assistance is to support member states that have been particularly hard hit by the pandemic in economic terms.