Italy, Spain, and Poland Receive €17 Billion in SURE Funding to Combat COVID-19 Employment Losses

The European Commission has disbursed large sums of money to several Member States under the first installment of the SURE Instrument, according to an announcement published by the Commission.

Italy has received €10 billion, Spain has received €6 billion, and Poland has received €1 billion under the SURE Instrument. After all disbursements have been made, Italy will receive a total of €27.4 billion, Spain will receive €21.3 billion, and Poland will receive €11.2 billion.

The SURE installments being made to the aforementioned countries are for the purpose of preserving employment amid COVID-19 and providing short-term jobs for citizens. The allocation of these funds is specifically geared towards helping those who are self-employed and most affected by COVID-19 related losses of employment.

“This support, in the form of loans granted on favourable terms, will assist these Member States in addressing sudden increases in public expenditure to preserve employment. Specifically, they will help cover the costs directly related to the financing of national short-time work schemes, and other similar measures they have put in place as a response to the coronavirus pandemic, in particular for the self-employed,” the announcement reads.

The SURE Instrument is paying Member States with gains from bonds purchased by investors, who have thus far shown much interest in investing in EU-sanctioned bonds. The repayment of these bonds to investors will be passed to Member States receiving the SURE funds and will be repaid from 2030-2040.

The Commission has largely pitched the purchase of SURE bonds as a way for investors to invest in the future and wellbeing of Europeans from various Member States across the Union.

“Today marks an important milestone for European solidarity as the first financing flows to our Member States: 17 billion euros to support workers in Italy, Spain and Poland. This is only the beginning. As Europe prepares to face a difficult winter, let’s remember that last week’s SURE Social Bonds issuance was more than a successful market operation – it was a huge vote of confidence in the European Union’s recovery plan and in our common economic future,” said Paulo Gentiloni, Commissioner for Economy.

The issuance of SURE bonds and disbursements of payment to Member States is also largely seen as a way to recover from the economic crisis that has had a large negative impact across Europe in all Member States. There are also expected to be more Member States receiving SURE bond funding in the future to help them recover from the COVID-19 economic crisis.

“The first disbursements under the SURE instrument are important milestones in our push to preserve jobs and livelihoods. They clearly demonstrate Europe’s solidarity with citizens in Spain, Italy and Poland affected by this unprecedented crisis. We remain committed to protecting people and jobs across Europe. SURE will play an important role in achieving this objective,” said Ursula von der Leyen, President of the European Commission.  

The SURE Instrument can provide up to €100 billion in financial aid to all Member States. There are currently 17 Member States who have used the funding offered by the SURE Instrument, and €87.9 billion in aid already given to various Member States across the EU.

EP: COVID-19 Emergency Measures Pose a Risk of Abuses of Power and European Values

The European Parliament has published a report outlining the EP Civil Liberties Committee’s concerns about abuses of power in the context of what effects national restrictions and shutdowns amid the COVID-19 pandemic could have.

The Committee has urged that the state of European values could be at significant risk, opening Europe up to abuses of power at the hands of some politicians.

The Committee has urged the European Commission to look farther into the issues surrounding COVID-19 extraordinary measures, and what adverse effects they could have on the rights and freedoms of EU citizens.

“The Civil Liberties Committee urges the Commission to evaluate ‘first wave’ national measures to assess their impact on citizens’ rights and freedoms,” the announcement reads.

Moreover, the Committee added a large emphasis on the risk of abuses of power amid restrictions that can affect democracy, the rule of law, and fundamental rights. The Committee has stated that these measures must be necessary, proportional, and time-limited (for example, no more restrictions that are given ‘for at least four weeks’ such as France’s curfew).

The Committee also is calling for countries to remove themselves from their ‘state of emergency,’ while also calling on Member States, the European Parliament, and judicial system to provide necessary checks on power that should safeguard against the abuse of power.

“MEPs concluded that national emergency measures pose a ‘risk of abuse of power’ and stressed that any measure affecting democracy, the rule of law, and fundamental rights must be necessary, proportional and time-limited. They call on governments to consider terminating their ‘state of emergency’ or at least to clearly define the delegation of powers to their executives, and to ensure that appropriate parliamentary and judicial checks and balances are in place,” the announcement reads.

The Committee’s report outlined several issues to combat in the context of shutdowns, restrictions, and other possible mediums for the abuse of power, which are summarized below:

Personal freedoms

  • Member States should exercise the “utmost restraint” when restricting freedom of movement, and the Commission should “scrutinize the application of Schengen rules.”
  • There should not be restrictions against the freedom of assembly.
  • The EU should guarantee now more than ever free and fair elections and the right to vote.

Disinformation and media freedom

  • Disinformation threatens citizens’ trust in public institutions and can be used as a pretext to restrict freedom of expression.
  • MEPs say the best way to combat this is to support independent journalism and media pluralism.
  • Disinformation that stigmatizes migrants has increased discrimination, racism, xenophobia, and hate speech against persons with disabilities, asylum seekers and refugees, people of Romani heritage, and LGBTI+ persons.

Right to education and protection to vulnerable groups

  • Member States should ensure that classes continue and that citizens have access to them.
  • Member States should find solutions through technology for judicial cooperation to safeguard the rights of defendants and persons in prison.

The Committee passed the resolution to move forward with measures to match their concerns with a vote of 50 votes in favor to 11 votes not in favor, and 3 abstentions.

At the time of writing this article, there is still no evidence of any Member States yet heeding the Committee’s warnings against the abuses of power that are present amid extraordinary measures.