Spain receives extra €4,000 million to finance ERTE

Spain receives extra €4,000 million to finance ERTE
Previous meeting between Pedro Sánchez and Ursula von der Leyen. CREDIT: Lamoncloa.gob

The European Commission announced today, Tuesday, November 17, that Spain will receive €4,000 million in loans to pay for Temporary Employment Regulation Records (ERTE).

In a tweet, EC President, Ursula von der Leyen, said: “I am pleased to announce that Spain will receive an additional €4,000 million euros in SURE loans. And more help is coming soon, Europe is with Spain.”

-- Advertisement --

The loan is part of the €21,300 million that the European Commission agreed to lend to Spain to finance ERTE, as one of the countries hardest hit by the pandemic.

Spain is one of 15 member countries of the Union to receive aid, and will have 15 years to pay the money back.

At the end of September, the Labour Ministry and Social Security Ministry reached an agreement with Spain’s two largest unions, the UGT and CCOO, to extend the furlough scheme until January 31, 2021.

Thank you for taking the time to read this news article “European Union demands Spain stops tributes to ETA terrorists”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.


Please enter your comment!
Please enter your name here