Online debate discussing the Rationale and Limitations of SURE
SURE is the acronym for ‘Support to mitigate Unemployment Risks in an Emergency’, a new instrument instrument recently proposed by the European Commmission, designed to provide temporary support of up to 100 billion euros in loans to Member States requesting financial assistance to finance their partial unemployment and short-term work schemes, which have been heavily used during the lockdowns.
On 15 May 2020, the Florence School of Banking and Finance teamed up with Bruegel in the occasion of a public online seminar where the SURE framework was presented and discussed. The event opened with a presentation by Gilles Mourre, Head of Unit ‘Fiscal Policy and Surveillance’ in the Directorate General for Economic and Financial Affairs (DG ECFIN) of the European Commission, who described the details of the SURE framework, outlining under which conditions Member States will have access to the instrument and which types of partial unemployment measures will be eligible under this framework.
The presentation was followed by a discussion, moderated by Elena Carletti (Bocconi University and Florence School of Banking and Finance, European University Institute) and featuring Roel Beetsma (University of Amsterdam) and Grégory Claeys (Bruegel), who discussed the implications of the implementation of SURE, its design, and the possible future outcomes. Lastly, as SURE has been portrayed as an expression of EU solidarity, the panel discussed how generous is SURE in reality.
Watch the session here: