The European Commission is advancing its plans to issue common debt and is poised to tap the bond market this month for the first time on a large scale to fund its coronavirus-relief programs. On Wednesday the European Union’s executive arm said a new program, known as the European instrument for temporary Support to mitigate Unemployment Risks in an Emergency, or SURE, will raise up to €100 billion, equivalent to $118 billion, from the sale of social bonds. They are a type of sustainable debt instrument that funds projects...

Source: Wall Street Journal October 07, 2020 16:15 UTC