The European Council of December 15 and 16, 2005, decided to set up a European adjustment fund for globalization, provided with 500 million euros. It will help employees who have lost their job due to a company's restructuring directly related to a negative impact of globalization. The regulation linked to the creation of this fund is under way. (Ref. 06118)
Last October 20, the president of the European Commission proposed to create a special fund to help employees adapt to the consequences of globalization. This idea was also meant to feed discussions on the European Union’s financial prospects over the period 2007-2013. The proposal did not have many supporters, until the Hewlett Packard restructuring put it on the lime light. The feeling that it was urgent to bring a “social” answer to the French and Dutch votes against the EU...
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