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Covid-19. By EC a response to counter socio-economic impact

The reaction is immediate and coordinated at continental level -ATTACHMENT

COVID-19 is a severe public health emergency for citizens, societies and economies with infections in all Member States. It is also a major economic shock to the EU. The Commission therefore presents today an immediate response to mitigate the socio-economic impact of the COVID-19 outbreak, centred on a European coordinated response. 

The Commission will use all the instruments at its disposal to mitigate the consequences of the pandemic, in particular: 

To ensure the necessary supplies to health systems by preserving the integrity of the Single Market and of production and distribution of value chains; 

To support people so that income and jobs are not affected disproportionally and to avoid permanent effect of this crisis; 

To support firms and ensure that the liquidity of financial sector can continue to support the economy 

And to allow Member States to act decisively in a coordinated way, through using the full flexibility of State Aid and Stability and Growth Pact Frameworks. 

The integral version of the press release (three pages) is attached to this AVIONEWS

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AVIONEWS - World Aeronautical Press Agency