COVID-19: Commission sets out European coordinated response to counter the economic impact of the Coronavirus*
COVID-19 is a severe public health emergency for our citizens, societies and economies with infections in all Member States. It is also a major economic shock to the EU. The Commission therefore presents today an immediate response to mitigate the socio-economic impact of the COVID-19 outbreak, centred on a European coordinated response.
The Commission will use all the instruments at its disposal to mitigate the consequences of the pandemic, in particular:
– To ensure the necessary supplies to our health systems by preserving the integrity of the Single Market and of production and distribution of value chains;
– To support people so that income and jobs are not affected disproportionally and to avoid permanent effect of this crisis;
– To support firms and ensure that the liquidity of our financial sector can continue to support the economy
– And to allow Member States to act decisively in a coordinated way, through using the full flexibility of our State Aid and Stability and Growth Pact Frameworks.