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The Eurogroup agreed on the features of the Pandemic Crisis Support instrument of the European Stability Mechanism, and adopted a statement.
Today, we agreed on the features and standardised access to the Pandemic Crisis Support to be provided by the ESM. We confirmed that all euro area countries meet the eligibility criteria to access this credit line.
Eurogroup President Mário Centeno
The EU’s emergency response to the COVID-19 pandemic (infographic)
Economic situation in the euro area - spring forecast
The Eurogroup exchanged views on the economic situation of the euro area, based on the European Commission's spring forecast, published on 6 May 2020. The discussion will inform the Eurogroup's efforts to tackle the COVID-19 crisis, and prepare the ground for the recovery of the euro area economy.
With the Commission’s economic forecasts discussed in the Eurogroup today, we were reminded of the emergency we are in and the urgency of these measures. (...) We need a robust recovery plan for Europe. Our three backstops go a long way in levelling the playing field for the emergency phase, but we need to do the same for the recovery to protect the single market and the European project.
Eurogroup President Mário Centeno
Today, we agreed on the features and standardised access to the Pandemic Crisis Support to be provided by the ESM. We confirmed that all euro area countries meet the eligibility criteria to access this credit line.
With the Commission’s economic forecasts discussed in the Eurogroup today, we were reminded of the emergency we are in and the urgency of these measures. (...) We need a robust recovery plan for Europe. Our three backstops go a long way in levelling the playing field for the emergency phase, but we need to do the same for the recovery to protect the single market and the European project.
