SURE: PES hails confirmation that progressive policy is one step closer to implementation

24/09/2020

FinCEN

European Commissioner for Economy Paolo Gentiloni and European Commissioner for Jobs and Social Rights Nicolas Schmit

The PES today celebrated the news that all national guarantees necessary for the roll-out of the European temporary Support to mitigate Unemployment Risks in an Emergency (SURE) have been received by the European Commission. The confirmation from Economy Commissioner Paolo Gentiloni means workers and Member States are one step closer to receiving vital support.

PES President Sergei Stanishev said:

“Since the very beginning of the coronavirus crisis, when the impact on jobs became clear, socialists and democrats have relentlessly pushed for support for workers.

“At the EU level this charge has been led by Economy Commissioner Paolo Gentiloni and Jobs and Social Rights Commissioner Nicolas Schmit. Thanks to their efforts, the support our political family has been fighting for is rapidly being put in place. This is good news for Member States and workers.

“It now remains for the EU Council to adopt these proposals. I urge them to do so without delay, so this progressive policy can be put into action. SURE is a vital shield for the EU to save jobs and enhance solidarity.”

Commissioners Gentiloni and Schmit proposed SURE back in February to reduce the unemployment risks arising from COVID-19. The instrument was included in the PES Recovery Plan, and socialists and democrats managed to convince all EU governments to agree on the mechanism.

The Commission has now confirmed that all bilateral guarantees to operationalise SURE have been received. Member States have provided the €25 billion needed to raise the €100 billion on the financial markets to support national short-time working schemes.

16 Member States have applied for the instrument for a total value of €87.3 billion, and other Member State applications are being processed. This flagship progressive measure is a central plank of the EU’s efforts to protect jobs during this crisis.