EU exec considering 100 bln euros for short-time work scheme

BRUSSELS, April 1 (Reuters) – The European Commission is considering 100 billion euros to fund a short-term work scheme, modelled on the German Kurzarbeit plan, that could be borrowed by the EU executive on the market against guarantees from EU governments, an EU official said.

The official cautioned, however, that the final size of the programme, the details of which the Commission is to present on Thursday, could still change. Also, EU countries would still need to agree to grant such guarantees.

“The EU would borrow against guarantees given by member states. It is about ensuring that all EU countries can have it and ease pressure on workers,” the official said. (Reporting by Jan Strupczewski)

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