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@article{1784022,
author = {Buzková, Romana and Nevečeřalová, Nikol},
article_number = {1},
keywords = {coronavirus; crisis; European Stability Mechanism; European Union; financial assistance; loans},
language = {eng},
issn = {2786-1929},
journal = {Institutiones Administrationis – Journal of Administrative Sciences},
title = {EU financial assistance during COVID-19 pandemic: Are loans the solution?},
url = {https://administrativescience.com/index.php/instadm/article/view/13},
volume = {1},
year = {2021}
}
TY - JOUR
ID - 1784022
AU - Buzková, Romana - Nevečeřalová, Nikol
PY - 2021
TI - EU financial assistance during COVID-19 pandemic: Are loans the solution?
JF - Institutiones Administrationis – Journal of Administrative Sciences
VL - 1
IS - 1
SP - 116-121
EP - 116-121
PB - Széchenyi István University
SN - 27861929
KW - coronavirus
KW - crisis
KW - European Stability Mechanism
KW - European Union
KW - financial assistance
KW - loans
UR - https://administrativescience.com/index.php/instadm/article/view/13
N2 - This article deals with the European Union’s reaction to the COVID-19 pandemic. The current crisis is having a negative impact on national economies. Based on legitimate concerns about the fiscal stability of the euro area and the EU as a whole, the Union has adopted a number of measures to support the Member States. As part of the solution to the coronavirus crisis, we cannot ignore the role of the European Stability Mechanism, in which financial assistance has been earmarked for euro area members. The article focuses on three instruments providing financial assistance in the form of loans: Pandemic Crisis Support, Support to mitigate Unemployment Risks in an Emergency (SURE) and the Pan-European Guarantee Fund. This EUR 540 billion rescue package was agreed by the Eurogroup on 9 April 2020. The article aims to identify the differences between these instruments and their target groups by analysing and comparing their legal bases, conditions and economic impact. As part of the contribution, we also mention countries that are not members of the euro area but have drawn assistance in the form of loans from the mentioned funds.
ER -
BUZKOVÁ, Romana and Nikol NEVEČEŘALOVÁ. EU financial assistance during COVID-19 pandemic: Are loans the solution? \textit{Institutiones Administrationis – Journal of Administrative Sciences}. Széchenyi István University, 2021, vol.~1, No~1, p.~116-121. ISSN~2786-1929.
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