4/2/2020, 8:35 AM (Source: TeleTrader)
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EU to help countries make up for wage reductions - EC

The European Commission President Ursula von der Leyen (pictured) said the bloc will provide up to €100 billion to the countries that are most affected by the ongoing COVID-19 pandemic in order to compensate for the reductions in wages.

"Companies are paying salaries to their employees, even if, right now, they are not making money. Europe is now coming to their support. If ... companies run out of work because of a temporary external shock like corona, they should not lay off their workers," von der Leyen told Reuters, adding Italy will be the first country to receive the aid.

Breaking the News / MD