Eu: Last News

As virus restrictions bite, EU extends safety net till 2023

BRUSSELS – The European Union is set to extend for around two more years the economic safety net it put in place to help save businesses and jobs from the impact of restrictions imposed to halt the spread of the coronavirus.

As countries began locking down in panic a year ago, the European Commission activated a “general escape clause” in the euro single currency rule book, allowing the bloc's 27 governments to pour billions into emergency health care, tax relief and ailing businesses like airlines.

The Commission, the EU’s executive arm, reckons that fiscal support worth around 8% of GDP was provided in 2020, far more than during the financial crisis of 2008-2009. Economies are starting to pick up, but the slow rollout of vaccines is

2020 economy
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Eu: Main News

BRUSSELS – The European Union is set to extend for around two more years the economic safety net it put in place to help save businesses and jobs from the impact of restrictions imposed to halt the spread of the coronavirus.
BUDAPEST – Hungary’s governing party pulled out of its conservative group in the European Union’s legislature on Wednesday following years of conflict over the rule of law and European values.

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