The Italian government has submitted a request to the European Union for a ‘loan’ of 28.5 billion euros. This is to be able to finance Member States’ short-time working schemes. Just when you thought it was enough with handing out money, another begging country comes around the corner …
The Italian ministers Roberto Gualtieri (Economy) and Nunzia Catalfo (Labor) justify their high asking price with the effect that the corona measures have on the – yet unstable – Italian economy. That is why they apply – without any embarrassment – a European loan of no less than 28.5 billion euros. Oh well, it is of course worth a try.
Italy now also wants 28.5 billion euros in European money for financing #worktime reduction
This comes from a package of € 540 billion that was already approved on April 23, so in addition to the € 1,825 billion that Rutte approved on July 21. https://t.co/cADT5dSevX
– Rob Roos (@Rob_Roos) August 8, 2020
The Italian government itself does something good in return, they say. The piggy bank (in Italian: Piggy bank) has been emptied so that the Italians themselves can set aside 12.5 billion to maintain employment levels in their own country.
The Italians arrive at a strategically clever moment with their bizarre billion dollar application. The European Union has indicated that they will take out loans from next month to pay for the so-called SURE instrument. The EU’s goal is to ultimately make EUR 100 billion available to ailing member states in exchange for a favorable loan.
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