Benefits from globalisation must be shared fairly, say S&Ds

Harnessing globalisation means shaping it to the benefit of all

The Socialists and Democrats led today a vote in employment and social affairs committee to ensure that more citizens who have lost their jobs can benefit from the European Transition Fund (ETF).

The ETF, which was established in 2006 under the name European Globalisation Adjustment Fund (EGF), is an EU instrument and solidarity fund aimed at providing financial assistance to facilitate the re-integration into employment of workers who were unexpectedly made redundant due to globalisation or an economic crisis. It co-finances projects aimed at helping with looking for a job, providing careers advice, education and training. The ETF can also provide allowances for training, mobility, relocation and subsistence.

 

S&D MEP Marie Arena, Parliament’s negotiator on the European Transition Fund (ETF), said:

“Today, we have a Fund that supports workers facing transitions linked not only to globalisation, as in the past, but also to technological change and climate transition. In addition to this, the criteria related to the number of workers affected by the restructuring are relaxed, allowing applications for a smaller number (200) of workers to be entered, be it from one or more enterprises, from one or several sectors. The co-financing rate will be aligned with the highest co-financing rate of the ESF+. All of these improvements will make the Fund more accessible to those member states who wish to do so and ultimately respond more quickly and effectively to the needs of the redundant workers.”

 

S&D Group spokesperson on employment and social affairs, MEP Agnes Jongerius, stated:

“We can give people who have lost their jobs new perspective and opportunities after becoming unemployed with establishing the European Transition Fund. Due to technological developments, climate change and globalisation jobs will change. Often the most vulnerable people are directly affected.

“Therefore we have to bear the burdens together and share the gains of these developments. With this new fund, we are well-prepared to help more people re-integrate into new jobs and provide them with proper training. Drawing from the fund, it will become possible to acquire the skills necessary for a new job.”