EU response to Covid – Economy_1

The EU has adopted a range of measures to contain the economic shock caused by the Covid 19 outbreak, some managed by the EU institutions and bodies, others at national level. The driver has been to act immediately through the resources and instruments available, and to build new avenues where possible. Loans and guarantees are granted by EU institutions directly or indirectly to finance Member States and businesses, and more flexible budgetary rules are being applied to facilitate measures taken by Member States. The ECB is providing monetary stimulus and mitigated banking supervision criteria, in support of lending to businesses and citizens