Eurogroup finally taken some important steps says ETUC

“The Eurogroup has finally taken some important steps to help protect working people, support companies, fund public services and stabilise the economy through this crisis in the short-term.  

“The activation of the ESM, the EIB and particularly of SURE goes in the right direction. We now ask all 27 member states’ governments to adopt this and the other measures before Easter. With 15 million jobs already affected by the lockdown, workers and companies cannot wait longer.

“We appreciate that Finance Ministers have understood that the price of financial support must not be punitive conditionalities that would impose another decade of austerity, recession and unemployment on the countries hardest hit by this disease.  There is still a need to remain vigilant to see how the ESM support will be deployed in the end, and concerns remain regarding the lack of support for health care systems in the non-Euro countries.

“It’s positive that Finance Ministers have started to make progress towards establishing a sound EU recovery plan.  It’s now time for the EU leaders to overcome their divisions and to swiftly design and implement a recovery plan based on the EU budget to be reinforced through common EU bonds.   Responsibility and solidarity are required from leaders, Europe needs a real, sustainable and inclusive economic and social recovery after this health crisis.”