Spain approves 200 bln euro aid package for coronavirus crisis

Spanish Prime Minister Pedro Sanchez announced on Tuesday a package of measures worth a total 200 billion euros ($219 billion), between loans, credit guarantees, benefits and direct aid, to mitigate the impact of the coronavirus epidemic on the economy.

The package represents about 20% of the country's gross domestic product, Sanchez said in a televised address, adding that the government would mobilize 117 billion euros for the package, with the rest to come from private companies. The measures include 100 billion euros in state-backed credit guarantees and unlimited liquidity lines for companies. ($1 = 0.9117 euros)