Spain receives extra €4,000 million to finance ERTE

Pedro Sanchez and Ursula von der Leyen. Image: La Moncloa

The European Commission announced today, Tuesday, November 17, that Spain will receive €4,000 million in loans to pay for Temporary Employment Regulation Records (ERTE).

In a tweet, EC President, Ursula von der Leyen, said: “I am pleased to announce that Spain will receive an additional €4,000 million euros in SURE loans. And more help is coming soon, Europe is with Spain.”

The loan is part of the €21,300 million that the European Commission agreed to lend to Spain to finance ERTE, as one of the countries hardest hit by the pandemic.

Spain is one of 15 member countries of the Union to receive aid, and will have 15 years to pay the money back.

At the end of September, the Labour Ministry and Social Security Ministry reached an agreement with Spain’s two largest unions, the UGT and CCOO, to extend the furlough scheme until January 31, 2021.

Thank you for taking the time to read this news article “European Union demands Spain stops tributes to ETA terrorists”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.

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Written by

Tara Rippin

Tara Rippin is a reporter for Spain’s largest English-speaking newspaper, Euro Weekly News, and is responsible for the Costa Blanca region.
She has been in journalism for more than 20 years, having worked for local newspapers in the Midlands, UK, before relocating to Spain in 1990.
Since arriving, the mother-of-one has made her home on the Costa Blanca, while spending 18 months at the EWN head office in Fuengirola on the Costa del Sol.
She loves being part of a community that has a wonderful expat and Spanish mix, and strives to bring the latest and most relevant news to EWN’s loyal and valued readers.

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