EU Commission welcomes Eurogroup's relief deal

EU Commission welcomes Eurogroup's relief deal
  • Clock-gray 18:40
  • calendar-gray 11 May 2020

The European Commission saluted the Eurogroup's agreement made last week through which Pandemic Crisis Support instrument was established as part of the European Stability Mechanism (ESM), APA reports citing Tele Trade. 

"The instrument will be available to all euro area member states, for amounts of 2% of the respective member's GDP, to support domestic financing of direct and indirect healthcare, cure and prevention-related costs due to the coronavirus crisis," the Commission noted.

Furthermore, the Eurogroup confirmed all ESM members are eligible to receive the agreed relief.

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