As Europe continues to see the worst of the coronavirus pandemic, the European Commission president announced that it will be spending €100 billion to stop businesses in the EU from reducing its staff numbers. 

The EC president, Ursula von der Leyen, stated that her plans will be fully supported by all 27 member states and hinted that it will be very beneficial to all European countries in these challenging times.

“Will it be enough? We are talking about €100bn of loans. It is an enormous amount of money …This is a massive support of the European Union that is laid forward here,” von der Leyen said,

The plan, which has been titled Sure, will see borrowings made from the international markets and loans to member state governments in order to facilitate short-time working schemes in their respective countries. 

She added on to apologise to Italy and its people for not showing much solidarity, as the number of infected cases and deaths increases in the country. 

“I apologise, we are with you. Today, Europe is mobilising alongside Italy. But that has not always been the case. It must be recognised that at the start of the crisis, faced with the need for a common European response, far too many thought only of their national problems,” the EC president wrote in the Italian newspaper, La Repubblica, on Thursday.

Read the latest news update: Global coronavirus cases exceed 1 million