EU's von der Leyen: Will allocate up to EUR100bln to the hardest hit countries, starting with Italy

European Commission will allocate up to EUR100bln to the hardest-hit countries, starting with Italy, in order to make up for the reduction in wages, said that the Commission President Ursula von der Leyen on Thursday, as cited by Reuters.

On Wednesday, von der Leyen proposed a wage-subsidy scheme to encourage employers to cut workers' hours rather than their jobs amid the coronavirus epidemic.

She said: "Companies are paying salaries to their employees, even if, right now, they are not making money. Europe is now coming to their support. If ... companies run out of work because of a temporary external shock like corona, they should not lay off their workers."

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