|Author (Corporate)||European Commission: DG Economic and Financial Affairs|
|Series Details||COM (2020) 454|
Proposal for a Council Implementing Decision adopted by the European Commission on 24 August 2020, concerning temporary support to Cyprus to address unemployment risks in the framework of the SURE instrument.
Council Regulation 2020/672 - also known as SURE Regulation - lays down the legal framework for providing EU financial assistance to Member States, which are experiencing, or are seriously threatened with, a severe economic disturbance caused by the COVID-19 (coronavirus) outbreak. Support under SURE serves for the financing, primarily, of short-time work schemes or similar measures aimed at protecting employees and the self‐employed and thus reducing the incidence of unemployment and loss of income, as well as for the financing, as an ancillary, of some health-related measures, in particular in the workplace.
Cyprus requested financial assistance in this framework on 6 August 2020. The Commission consulted the Cypriot authorities o verify the sudden and severe increase in actual and planned expenditure directly related to: a) the special leave scheme for parents, b) the sickness benefit scheme for employees of the private sector and self-employed, c) the scheme supporting companies for the total suspension of their operations, d) the scheme supporting companies for the partial suspension of their operations, e) the special scheme for the self-employed, f) the special scheme for hotel units and tourist accommodation, g) the special scheme to support businesses related to the tourism industry or affected by tourism or associated with businesses subject to mandatory total suspension, h) the special scheme for supporting businesses exercising predefined activities, and i) the subsidisation scheme of very small and small enterprises and self-employed caused by the COVID-19 pandemic.
|Subject Categories||Employment and Social Affairs|
|Subject Tags||Labour Market|
|Countries / Regions||Cyprus|
|International Organisations||European Union [EU]|