Europe takes action against the coronavirus. Italy has allocated 25 billion euros (27.8 billion dollars) to palliate the crisis, while France has promised to assume the payment of bank loans. In Spain, the council of ministers meets today to take action to face the crisis.
In France, Emmanuel Macron announced last night measures to mitigate the impact of the epidemic on the national economy and on citizen’s lives. The country will allocate 300 billion euros to save companies. “No business whatever size will face risk if bankruptcy,” declared the President of France.
The French State will assume the payment of the contracted bank credits, will suspend the payment of taxes and social contributions, and also water, light and gas’ taxes. “Any French will be left without resources”, said Macron. “We are at war”, added.
“We are in war”, pointed Emmanuel Macron, President of France
Italy has also taken economic measures against the coronavirus. The country’s government has launched an aid program, Cure Italy, in which it allocates 25 billion euros to help the industry to face the coronavirus crisis and will generate financing for 350 billion euros to “push the economy”.
“Other EU countries should follow Italy’s example, although we are aware that this is not enough and will have to rebuild the economic and social structure”, said Giuseppe Conte, Prime Minister of Italy.
The country’s Economy Minister, Roberto Gualtieri, pointed out that 3.5 billion euros will go to the health and civil protection system, 10 billion euros will go to support employment and another 10 billion to help families with mortgages.
Italy will assign 3 billion euros to professionals, freelancers and self-employed to safeguard the period of inactivity.
On the other hand, 3.3 billion euros will be allocated to the Casa Integrazione program, a measure that consists of supporting salaries for companies with manufacturing and commercial activities with less than fifteen employees. Additionally, another 3 billion euros will be allocated to professionals, freelancers, and self-employed to safeguard the period of inactivity.