ECB backs use of EU central banks for job subsidies

European Central Bank

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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