European Commission wants to create in EU budget mechanism to support troubled eurozone countries

The European Commission is considering the possibility of creating a stabilization function for investments in the next long-term budget of the European Union for 2021-2027. The report of the European Commission says that this instrument will “help stabilize the levels of public investment and help the economy recover rapidly in the event of serious economic shocks in the euro area countries, as well as in those countries that participate in the European exchange rate mechanism”. The EC notes that this tool will allow EU countries to obtain loans guaranteed by the EU budget in the amount of up to 30 billion euros. Funds for lending will be raised in the market.

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