Coronavirus outbreak: impact on economic situation (2020)



The EU provides additional financial support to Member States to protect jobs and workers affected by the coronavirus pandemic.

The European Central Bank is providing €750 billion to relieve government debt during the crisis, as well as €120 billion in quantitative easing and €20 billion in debt purchases. In addition, MEPs voted to make €37 billion from existing EU structural funds available to EU countries to tackle the coronavirus crisis and support healthcare, businesses and workers.

Ursula von der Leyen, President of the European Commission, presents a revised long-term EU budget (MFF 2021-2027) and recovery plan during a plenary session. MEPs discuss the proposals, but have already called for a €2 trillion recovery package to help the EU bounce back from the effects of the Covid-19 pandemic.

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