| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2011) 336 final (10.6.11) |
| Publication Date | 10/06/2011 |
| Content Type | Policy-making |
|
The European Globalisation Adjustment Fund (EGF) was established in 2006 by Regulation (EC) No 1927/2006 with the main objective of showing solidarity with and providing support to workers affected by redundancies resulting from changes in world trade patterns. By co-funding active labour market policy measures, the EGF aimed at facilitating the re-integration into employment of workers in areas, sectors, territories, or labour market regions suffering the shock of serious economic disruption. In the light of the scale and the speed of development of the financial and economic crisis in 2008, the Commission, in its European Economic Recovery Plan, envisaged the revision of Regulation (EC) No 1927/2006. The aim of this revision, brought about by Regulation (EC) No 546/2009, was to extend the scope of the EGF as part of Europe's crisis response and to turn it into an early, more effective crisis intervention instrument in line with the fundamental principles of solidarity and social justice. The expected continued impact of the crisis on company closures and the need for fiscal consolidation in Member States justify an extension of the crisis related derogation in Regulation (EC) No 1927/2006. Therefore, it is proposed to extend the temporary crisis-related derogation, which expires on 30 December 2011, until 31 December 2013, i.e. until the end of the implementation period of Regulation (EC) No 1927/2006. This will make it possible for Member States to continue to present applications for EGF support in favour of workers still made redundant as a consequence of the financial and economic crisis and to benefit from an EGF co-funding rate of 65%. |
|
| Source Link | Link to Main Source http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2011:0336:FIN:EN:PDF |
| Related Links |
|
| Subject Categories | Employment and Social Affairs |
| Countries / Regions | Europe |
