Commission proposed a further €300 million for Portugal, €900 million for Greece and €29 million for Cyprus
The European Commission presented the European Council for granting financial support to the European Instrument for Temporary Support to Mitigate the Risks of Alarm in an Emergency Situation (SURE): an additional amount of €900 million for Greece, raising the total support to the country to €6.2 million, an additional amount of €26 million for Cyprus, bringing total support to €632 million, and an additional amount of €300 million for Portugal, which brings the total support to €6.2 billion. Once the Board will be approved as proposals, financial support will be granted in the form of granting conditions on conditions. SURE is a crucial element of the EU’s overall strategy to protect jobs and workers in response to the COVID-19 pandemic. The proposal presented today, if drafted, will raise the global financial support provided under SURE a total of 95.7 billion euros. The Commission has already €1.8 million in favor of 1.8 million Member States under SURE and expects to carry out the remaining €99 million contraction operations in the coming months. There are still 4.3 billion future orders available under SURE for eventual euros.