00:00We Europeans suffer from the greatest human tragedy since the wars.
00:05We are all heartbroken by the death of many thousands of people killed by the coronavirus.
00:12The first and hardest hit are Italy and Spain, and we are mourning with them.
00:19Our daily life has changed dramatically.
00:23Millions of people cannot go to work, but they still have to buy groceries and pay the bills.
00:30Companies are paying salaries to their employees, even if, right now, they are not making money.
00:37Europe is now coming to their support with a new initiative.
00:41It is called SURE.
00:43For example, the regions around Milana or Madrid, they are part of the backbone of Europe's economy.
00:51Thousands of strong and healthy companies are struggling because of the current crisis.
00:56They need our support to get through the crisis.
01:00And this is why we have developed the concept of short-time work.
01:05It is intended to help Italy, Spain and all other countries that have been hard hit.
01:11And it will do so thanks to the solidarity of other member states.
01:16How does SURE work?
01:18We have learned the lessons from the financial crisis in 2008.
01:23Member states who had this instrument helped millions of people to stay in their jobs
01:30and companies to go through the financial crisis with their employees.
01:35This is SURE.
01:37State-supported short-time work.
01:41It has mitigated the effects of the recession,
01:44kept people in work,
01:46and enabled companies to return to the markets with renewed vigour.
01:51And the idea is simple.
01:53If there are no orders and companies run out of work
01:57because of a temporary external shock like corona,
02:01they should not lay off their workers.
02:04They continue to employ them,
02:07even if there is less work.
02:08In the spare time,
02:11workers might be taught, for example,
02:13new skills that will benefit both the company and themselves.
02:18This way, people are spared the hole in their wallets during the crisis.
02:23They can continue to pay their rents
02:25and buy what they need.
02:27And this also has a positive impact on the economy.
02:32Thanks to SURE,
02:34more people will keep their job during the corona crisis.
02:38And they will go back to full work
02:40as soon as the lockdown will be over,
02:43when the demand picks up again and the orders come back.
02:47This is crucial to restart Europe's economic engine without delay.
02:53This week, the European Commission will propose
02:56a new instrument to support short-time work.
03:00It will help in the countries the most hit
03:03and it is guaranteed by all member states.
03:08This is European solidarity in action.
03:11It is for Italy, Spain and others
03:15and it is for Europe's future.
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