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Here’s How the EU Plans to Stave Off a Full Economic Crisis

The EU’s own investment fund can be used to guarantee 8 billion euros of loans to 100,000 small-and-medium sized enterprises. — The EU’s own investment fund can be used to guarantee 8 billion euros of loans to 100,000 small-and-medium sized enterprises.
Photographer: Tullio Puglia/Getty Images Europe

By

Viktoria Dendrinou

March 13, 2020, 2:48 PM UTC

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The European Union unveiled a raft of measures aimed at cushioning what it said would be a deep recession in the region this year as a result of the coronavirus pandemic. The European Commission will use maximum flexibility in the bloc’s rules as well as steps to ensure liquidity for businesses that have been hit hard by the crisis.