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The EU's SURE scheme, aimed at protecting jobs - a crash course.

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The EU's SURE scheme, aimed at protecting jobs - a crash course.
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The Coronavirus pandemic is having a massive, negative impact on European jobs market.

The International Labour Organization has announced that it foresees the potential loss of 12 million full-time positions in Europe during 2020.

The sectors most at risk include accommodation and food services, manufacturing, retail and administration.

To mitigate the issues, the European Union has put in place a scheme called SURE, which stands for Support to mitigate Unemployment Risks in an Emergency.

It’s part of a 540 billion euro package to support European companies and workers.

There are up to 100 billion euros available for the SURE scheme, supported by 25 billion euros in guarantees from EU members.

States can apply for the cash after they’ve activated schemes to help those either in regular work or self-employed people who've also lost income.

The assistance comes in the form of a loan on favourable terms.