Regulation of the European Parliament and of the Council establishing the European Globalisation adjustment Fund
The European globalisation adjustment fund (EGF) is created to help the workers made redundant in the EU as a result of trade liberalisation. The European globalisation adjustment fund (EGF) is expected to pay out up to €500m a year in financial support to help people find new jobs.
13 December 2006
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The European globalisation adjustment fund (EGF) is created to help the workers made redundant in the EU as a result of trade liberalisation. The European globalisation adjustment fund (EGF) is expected to pay out up to €500m a year in financial support to help people find new jobs.
As of 1 January 2007, the EGF provides assistance to laid-off workers by funding personalised services like career guidance, outplacement, training and help to start up their own businesses. It does not finance passive social protection measures like unemployment benefit.
To receive this funding, EU countries have to prove the link between job losses and structural changes in global trade patterns. An example of this could be when a firm relocates to a country outside the EU for economic reasons or there is a massive increase in imports.
The support is paid not to companies or local authorities, but to the individuals affected. Between 35 000 and 50 000 workers in the EU are expected to qualify for assistance every year.
Proposed by the Commission in March 2006 in response to the challenge of globalisation, the fund expresses the EU’s solidarity with the men and women affected by the opening-up of EU economy. It supplement action being taken by EU countries at national level.
As of 1 January 2007, the EGF provides assistance to laid-off workers by funding personalised services like career guidance, outplacement, training and help to start up their own businesses. It does not finance passive social protection measures like unemployment benefit.
To receive this funding, EU countries have to prove the link between job losses and structural changes in global trade patterns. An example of this could be when a firm relocates to a country outside the EU for economic reasons or there is a massive increase in imports.
The support is paid not to companies or local authorities, but to the individuals affected. Between 35 000 and 50 000 workers in the EU are expected to qualify for assistance every year.
Proposed by the Commission in March 2006 in response to the challenge of globalisation, the fund expresses the EU’s solidarity with the men and women affected by the opening-up of EU economy. It supplement action being taken by EU countries at national level.