Council agrees on a European globalisation adjustment fund
At its meeting on 20 and 21 June, the Employment, Social Policy, Health and Consumer Affairs Council (EPSCO) reached a general approach on the European globalisation adjustment fund (EGF). Ministers also prepared the discussion of youth employment that the heads of state or government will hold at next week's meeting of the European Council.
Joan Burton, Irish Minister for Social Protection
© European Union, 2013
Globalisation Adjustment Fund
The general approach on the EGF agreed at this EPSCO meeting clears the path for negotiations with the European Parliament with a view to adopting the proposed regulation before 1 January 2014.
Ministers discussed the presidency's compromise proposal, amended by a proposal to strengthen support for the employment of young people aged 15-24 in regions with high youth unemployment rates.
Youth employment was also discussed in order to provide input for the discussion between the Heads of State and Government on 28-29 June.
In February 2013, the European Council earmarked EUR 6 billion for a youth employment initiative, to be spent over the next seven years. Ministers supported frontloading these funds in order to achieve an impact as soon as possible.
A youth guarantee scheme, agreed by the Council in February, would aim to ensure that all young people under the age of 25 receive a good-quality offer of either employment, continued education, an apprenticeship or a traineeship within four months of becoming unemployed or leaving formal education. Ministers supported adopting concrete plans for the implementation of the guarantee by the end of 2013 so that the funds could be used from January 2014.