GLOBALISATION FUND : FUNDING APPROVED FOR SPANISH CAR INDUSTRY.
The Spanish car industry is the next in line to get financial support from the European Globalisation Adjustment Fund (EGF). Madrid's request for financial support was approved by the European Commission, on 10 February. The European Parliament and the Council now have to give their green light to let this money pass through to Spain.
The application for funding was sent to the Commission after 1,082 Spanish auto industry workers had lost their jobs at three car producers and nine car component manufacturers in the two neighbouring Spanish regions of Castilla Y Leon and Aragon. The layoffs followed the transfer of production to countries outside the European Union (Morocco, Turkey and Taiwan), in response to the increase in car imports into the EU and the quick decline of the Union's market share in the production of motor vehicles.
The two Spanish regions are scheduled to receive a total ofa3.4 million from the EGF, half of which -a1,694,300 - will be funded by the Commission. The money will be spent ona"guidance, preparation of personal pathways, general and specific training, and support by a specialised team for re-integration, incentives to support active job-searching and incentives for rapid re-integration into employment". The Commission says that 368 workers will thus be brought back into employment.
To date, 15 applications have been filed with the...
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