Thursday, 7 May 2009

European Globalisation Adjustment Fund (EGF) revision

In Revision of the European Globalisation Adjustment Fund (EGF) (6 May 2009; MEMO/09/221) the Commission has published an overview of the provisions of the EGF’s Founding Regulation 1927/2006 to be amended.

In short, the rules of the EGF have are being adapted to take account of the financial and economic crisis, besides its original aim to aid measures against redundancies caused by structural change.

More information is available on the EGF web pages of the Commission’s Directorate-General for Employment, Social Affairs and Equal Opportunities.


European Parliament vote

The reason to publish the Memo seems to have been the approval by the European Parliament 6 May 2009 of the Commission’s proposal, the near unanimous vote being 538 for, 35 against and 37 abstentions.

At this stage the provisional EP resolution can be found among the adopted texts of 6May 2009 (Part 2; page 19).

Here are the exact references to the adopted text:

European Globalisation Adjustment Fund ***I
European Parliament legislative resolution of 6 May 2009 on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 1927/2006 on establishing the European Globalisation Adjustment Fund (COM(2008)0867 – C6-0518/2008 – 2008/0267(COD))


It is natural that with growing unemployment and the European elections looming, the institutions of the European Union wish to be seen as doing something to counter the ill effects of the financial and economic crisis.

Ralf Grahn