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May 7, 2021 12:13 pm
A New Brexit Loan Scheme is set to be launched in the coming weeks, the government has announced.
The planned scheme was announced yesterday (Thursday, May 6) by Tánaiste and Minister for Enterprise Trade and Employment Leo Varadkar; Minister for Agriculture, Food and the Marine Charlie McConalogue; and Minister for Finance Paschal Donohoe.
The ministers are calling on financial providers to take part in the new Brexit loan scheme, which will be administered by the Strategic Banking Corporation of Ireland (SBCI).
The scheme will be funded up to €330 million, and will be open to small and medium enterprises (SMEs) and small ‘mid-caps’, including farmers.
Valentina Milano, Pietro Reichlin
The COVID-19 crisis represents a unique litmus test for the European Monetary Union’s (EMU) risk-sharing capacities in allowing us to assess whether the institutional progress made since the global crisis and the subsequent euro area sovereign debt crisis has borne any fruit.
Despite the progress in recent years, the European banking and capital markets unions are still incomplete. The decentralized nature of European fiscal policies has historically been an impediment to increasing and more resilient financial integration and stability in the EMU (Bénasse-Quéré et al. 2018, Constâncio 2018 and Berger et al. 2018). Enhancing the EMU’s private and public risk-sharing capacities has therefore been a central element of the policy debate on the euro-area reform (Pisani-Ferry and Zettelmeyer 2019).