Current Globalization Fund

(B2) The European Parliament adopted, on December 13, the proposal for a regulation on the Globalization Adjustment Fund. A vote acquired, by a clear majority, by show of hands. This is a first (and only) reading. After several informal consultations and several trilogues, an agreement reached on November 30 did in fact make it possible to reach a compromise with the ministers. This allows the Fund to be operational from 2007, as planned. A small record in the social annals. Since between the Commission's proposal, at the end of February 2007, and the adoption, less than a year will have passed. A “victory for the workers and over our national differences” welcomed the rapporteur Roselyne Bachelot (EPP/UMP, France).

In a few words. This new Fund is triggered in the event of a globalization shock "when major changes in the structure of world trade lead to serious economic disruption or a sudden and rapid decline in the European Union's market share in a given sector or relocation to third countries".

It will intervene only for major restructuring - at least 1000 job losses in a company (with its subcontractors) or in a particular sector (in one or two regions), or even "in exceptional circumstances, duly justified by the Member States". Endowed with 500 million euros per year, the Fund will finance projects (50%, i.e. one European euro for one national euro) to facilitate the "active" reintegration of workers: help in finding work, development of training , promotion of entrepreneurship, micro-credits, financial incentives, particularly aimed at older workers, to enable them to remain in the labor market”.

(NGV)