Sandra Brown 10/21/2020
Europe has set a historical record thanks to the coronavirus
Europe has set a historical record in the course of raising borrowed funds using bonds. This is stated in a statement by the European authorities.
On October 20, 2020, the EU launched a common European bond placement under the SURE (Support to mitigate Unemployment Risks in an Emergency) program, which is a key instrument of Brussels' strategy to mitigate the negative impact of the coronavirus on the European economy. Europe has placed bonds for 17 billion euros, the demand for them from investors amounted to 233 billion euros. At the same time, the yield on the issued bonds is negative.
In a statement from Brussels, it is said that both the loan amount itself and the volume of demand have become a record for Europe. It turned out to be the largest supranational fundraising in history. Thanks to the bonds, Brussels will issue loans to European countries to help them finance employment support programs.
TAGS: ECONOMY, EUROPE