GLOBALISATION ADJUSTMENT FUND : COMMISSION TO UPGRADE EGF.
| Position | European Commission on European Globalisation Adjustment Fund |
On 16 December, the European Commission presented a proposal for the revision of the regulation on the European Globalisation Adjustment Fund (EGF). Established in late 2006, the fund has an annual budget ofa500 million. The aim of the revision is to turn the EGF into a "more effective early intervention" crisis response instrument; to enlarge its scope to cover staff redundancies caused by the current financial crisis; and to bring the fund "closer to its solidarity objective". To date, the fund has disburseda67 million (of whicha35.16 million went to the textile industry in Italy).
The...
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