|Author (Corporate)||Council of the European Union, European Parliament|
|Series Title||Official Journal of the European Union|
|Series Details||L 153, Pages 48-70|
|Content Type||Blog, Legislation, News, Policy-making|
Regulation (EU) 2021/691 - formally signed by the co-legislators on 28 April 2021 - establishing the European Globalisation Adjustment Fund for Displaced Workers (EGF) for the period 2021-2027.
The EGF is a fund run by the European Union (EU) to support workers who were dismissed or made redundant by their employers. It sits outside the ceilings of the Multiannual Financial Framework (MFF) and it is mobilised on an ad-hoc basis.
This Regulation repeals Regulation (EU) No 1309/2013. It extends of the EGF by shifting focus to any global economic shock and also to more general economic transitions. In addition, the requirement on number of workers laid off as a result of economic change has been reduced. Access to this fund by less developed regions has also been facilitated.
The draft law was tabled by the European Commission on 30 May 2018 in the framework of the proposals concerning the MFF 2021-2027. The European Parliament adopted its negotiating position on 16 January 2019, followed by the Council of the European Union on 15 March. The positions did not cover financial provisions, subject to wider political negotiations. The Commission adopted revamped proposals on the MFF 2021-2027 in May 2020. Following the overall deal on the financial provisions for the MFF, an informal agreement between the co-legislators on a compromise text was announced on 16 December 2020. It was endorsed by the Council on 8 April 2021, followed by the Parliament on 28 April 2021. It was formally signed by the co-legislators on that same day and published in the Official Journal on 3 May 2021.
|Subject Categories||Employment and Social Affairs, Internal Markets|
|Subject Tags||Labour Market, Multiannual Financial Framework [MFF]|
|Keywords||European Globalisation Adjustment Fund [EGF], MFF 2021-2027
|International Organisations||European Union [EU]|