EU Support to mitigate Unemployment Risks in an Emergency (SURE): was it successful?
On Wednesday 14 December 2022, the European Court of Auditors (ECA) will publish a special report on the EU's temporary €100 billion support tool for crisis-hit workers and firms (SURE).
ABOUT THE AUDIT
The auditors have assessed whether the SURE tool was an efficient and effective response to mitigate unemployment risks in the EU from the COVID-19 pandemic, and whether the Commission implemented it efficiently. The ECA carried out an audit of SURE because of its importance in cushioning the impact of the COVID-19 pandemic's impact and preventing unemployment from rising as sharply as initially feared.
ABOUT THE TOPIC
The COVID-19 pandemic put millions of jobs in Europe at risk. The EU reacted rapidly with the SURE tool, which provides up to €100 billion in long-term low-cost loans for countries across the bloc. EU countries can use the money to create or extend their job-retention schemes, and also for health measures. Nineteen EU countries have requested loans, and nearly €92 billion has already been disbursed, loans made to Italy and Spain accounting for more than half of that amount.
FOR THE PRESS
- ECA press office will hold a virtual briefing on Wednesday 14 December. Journalists who wish to participate should contact email@example.com for details.
- The report and press release will be published on the ECA website eca.europa.eu at 5:00 p.m. CET on 14 December.
- The ECA member responsible for this report is Iliana Ivanova.