The European Union’s response to both the healthcare and economic issues that have gripped much of the EU during the first quarter of 2020 has grown steadily. The EU’s “three safety nets” package for workers, business and sovereigns amounting to a total of €540 billion is expected to be operational by June 1, 2020.

This Client Alert looks at the key features of the EU’s financial support package and what it means for financial services firms, as well as the actions taken by the ECB in its own €750 billion Pandemic Emergency Purchase Program, which has now launched along with a number of other support measures.