About: http://data.cimple.eu/news-article/701847cd9b5077654cb217094083f24f5d8f50b9410b5a773ff64ffc

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About: http://data.cimple.eu/news-article/701847cd9b5077654cb217094083f24f5d8f50b9410b5a773ff64ffc Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The EU on Friday offered member states "maximum flexibility" to boost spending and subsidies beyond normal rules to help fight the coronavirus. "The shock is temporary, but we must work together to ensure that it is as short, and as limited as possible," EU Commission chief Ursula von der Leyen said. "Therefore member states should be encouraged and they should feel comfortable to take all the necessary measures to support the most effective sectors." The outbreak that began in China has now spread across the globe, with Italy -- the bloc's third biggest economy -- one of the worst hit countries. The European Commission, the EU's executive arm, has limited firepower to fight an economic downturn, with loosening public spending rules its most powerful tool. "What we need now is to use flexibility within EU fiscal rules to allow member states to fully respond to the crisis," said EU executive vice president Valdis Dombrovskis. The message was meant for heavily-indebted Italy, which has announced 25 billion euros in emergency spending, technically violating EU debt and deficit rules. Von der Leyen also boosted the amount of existing EU budget money to be devoted to the crisis to 37 billion euros. The spending in question will come from EU subsidies left unspent and rules will be loosened to keep funds flowing. All eyes are on a meeting Monday of EU finance ministers who between them have more power to build a response sizeable enough to be felt on the markets. The situation was made more urgent after Christine Lagarde, the European Central Bank chief, spooked markets by saying that managing Italy's public borrowing capacity was not a priority. bur-arp/dc/jh
schema:headline	EU offers 'maximum' bugdet flexibilty to fight virus
schema:mentions	Kingdom of Italy European Central Bank Pretty Maids European Commission House of Leyen Budget of the European Union Christine Lagarde Ebola virus disease Ursula von der Leyen European Union China Coronavirus Valdis Dombrovskis It Was Written
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-13 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	83 (xsd:integer)

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