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Agreement reached on the European Globalisation Fund
The EU Council of Employment and Social Affairs Ministers, the European Parliament and the Commission have reached an initial agreement on the operating criteria of the new European Globalisation Fund, the measures financed by the Fund and the financing share. The terms and conditions of financing were formulated so that even small Member States like Finland and areas of low population have a possibility of obtaining assistance from the Fund.
Minister of Labour, Ms Tarja Filatov, is happy about this agreement.- The Globalisation Fund is part of the EU's budget consensus, and achieving this solution was important. The Fund is part of the employees' EU level redundancy protection policy, and it will help employees afflicted by large structural changes, comments Ms Filatov.
The European Globalisation Fund will support employees who have lost their jobs as a result of changes due to the global economy in retraining and finding and retaining a new job. The Fund will grant assistance to active labour force political measures. It is intended for the employees, not companies or regions. The Fund assistance may not exceed 50% of the total costs of the measures to be financed. Financing can be granted for no longer than a period of one year.
The annual amount of assistance from the Fund will total Eur 500 million. In cases where assistance is made available, the job losses must have a clear connection to structural changes in global trade and a significant negative effect on the regional or local economy.
The Commission proposed the establishment of the Globalisation Fund in March this year. The Regulation setting up the Fund is intended to enter into force from the beginning of next year, in case the meeting of the EU Council of Ministers has time to make the official decision in the matter during this year.
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Further information: Director Pertti Toivonen, Ministry of Labour, tel. +358 10 60 47983, +358 50 396 0241, firstname.lastname@mol.fi
Minister of Labour, Ms Tarja Filatov, is happy about this agreement.- The Globalisation Fund is part of the EU's budget consensus, and achieving this solution was important. The Fund is part of the employees' EU level redundancy protection policy, and it will help employees afflicted by large structural changes, comments Ms Filatov.
The European Globalisation Fund will support employees who have lost their jobs as a result of changes due to the global economy in retraining and finding and retaining a new job. The Fund will grant assistance to active labour force political measures. It is intended for the employees, not companies or regions. The Fund assistance may not exceed 50% of the total costs of the measures to be financed. Financing can be granted for no longer than a period of one year.
The annual amount of assistance from the Fund will total Eur 500 million. In cases where assistance is made available, the job losses must have a clear connection to structural changes in global trade and a significant negative effect on the regional or local economy.
The Commission proposed the establishment of the Globalisation Fund in March this year. The Regulation setting up the Fund is intended to enter into force from the beginning of next year, in case the meeting of the EU Council of Ministers has time to make the official decision in the matter during this year.
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Further information: Director Pertti Toivonen, Ministry of Labour, tel. +358 10 60 47983, +358 50 396 0241, firstname.lastname@mol.fi
