European Globalisation Adjustment Fund
1 Pages Posted: 6 Mar 2015
Date Written: March 4, 2015
Abstract
At its March 2015 plenary, the European Parliament is due to vote on six applications for the mobilisation of the European Globalisation Adjustment Fund (EGF). The EGF provides one-off support to workers losing their jobs as a result of major structural changes in world trade patterns.
The EGF was introduced in 2007 as a flexible instrument in the EU budget to provide support, under specific conditions, to workers who have lost their jobs as a result of mass redundancies caused by major changes in global trade (e.g. delocalisation to third countries). Since 2007, the EGF has received 146 applications and has paid out €454.2 million (out of €545.3 million requested) in favour of 119 980 workers. Companies from the automotive, machinery and equipment, and textile industries have been among the most frequent applicants for EGF aid.
Keywords: Europe, globalisation, fund, budget, EU, policy-making, Parliament, EGF, workers, crisis, automotive
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