On December 13, 2006 the European MPs adopted the draft regulation for the creation of the European globalization adjustment fund, which will provide a budget of up to 500 million euros to finance actions in favour of workers victim of restructuring. It will come into effect on January 1, 2007. (Ref. 061252)
Under pressure through widespread media coverage of the restructuring of the Forest Volkswagen plant in Belgium, the European Commission, the European Parliament and the Council have reached a compromise allowing the regulation on the European globalization adjustment fund (EGF) to be adopted in time to come into effect on January 1, 2007. This time frame supposed adoption of the text by the European MPs after a single reading. The report presented by the French MP Roselyne Bachelot-Narquin (EP
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