Ursula von der Lajen, the President of the European Commission (EC), announced an additional softening of the budget rules for EU countries to enable them to withstand the economic consequences of the coronavirus epidemic.
"Today - this is a new one that has never been done before - we have involved an article that allows a general release from (budgetary) restrictions," the EC head said in a video message posted on her Twitter on Friday.
As the head of the EC noted, "this means that national governments can invest in the economy as much (funds) as they need." "We are softening the budget rules to allow them to do this," the European Commission President said. At the same time, she expressed satisfaction with the "decisive step of the European Central Bank," which announced plans to buy out 750 billion Eurobonds in public and private debt in response to the aggravation of the economic and financial turmoil caused by the coronavirus pandemic.
The President of the European Commission added that the EU budget would take on the part of the burden of saving the economies of the EU countries. "€37 billion is being allocated to support the health sector and enterprises and keep people in the workplace. And we will do even more to support you and your families during this crisis," von der Lajen promised.
She recalled that on the eve of the European Commission proposed new rules for the provision of state aid to enterprises, which are "the most flexible ever existed."
"This will support your enterprises and your workplaces. Your governments will be able now to help many of the enterprises that suffered from this sudden blow: hotels, restaurants, and transport companies. Small enterprises that are threatened with closure if they are not helped," the European Commission President said.