ECB backs use of EU central banks for job subsidies

“Sure” scheme to pay job subsidy funds would be within EU law, ECB says

Euro sign, Frankfurt

The European Central Bank has welcomed a plan to send financial assistance to help European Union states subsidise employment during the Covid-19 pandemic.

The European Commission, the European Union’s permanent civil service, first proposed the plan on April 2. It was approved by the “Eurogroup” of the eurozone’s finance ministers a week later.

The EU’s governments are still discussing whether they should agree on a wider economic support package to deal with the pandemic’s effects.

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