European socialists and democrats are backing efforts by European Commissioner Nicolas Schmit to introduce a European unemployment reinsurance scheme. The progressive proposals must be implemented as soon as possible, the Party of European Socialists said today.

PES President Sergei Stanishev said:

“The COVID-19 crisis has shown once again the value of European solidarity. Now it is time to turn that solidarity into concrete measures which transform the economic slowdown into a recovery.

“The EU can put solidarity into practice by playing a central role in guaranteeing citizens are supported if they lose their jobs. That is why we are supporting Commissioner Schmit’s push for the urgent implementation of an unemployment reinsurance scheme. If sufficiently financed, it would be the natural tool to address the socioeconomic shock which member states are facing. It is a practical step which the EU can take to address the surging unemployment countries are experiencing because of COVID-19.”

Read the full article here.