Proposal for establishing the European Globalisation Adjustment Fund

The Commission report on European Values in a Globalised World recently underscored the benefits of opening markets and increased international competition, but also highlighted the need to help individuals, by getting the right policies to support people whose jobs disappear, helping them to find new jobs, quickly.

In this context, Commission President Barroso proposed the establishment of a Globalisation adjustment Fund hereinafter referred to as the EGF. It would provide a European response to help those adjusting to the consequences of globalisation: a sign of solidarity from the many that benefit from openness to the few who face the sudden shock of losing their job.