Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-124-000"

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"en.20120313.7.2-124-000"2
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". The economic crisis has resulted in the decline of economic activity and entailed a rise in unemployment against the background of a productivity slump and deterioration in the public finance system. The European Globalisation Adjustment Fund (EGF) had to be adapted in order to mitigate the impact of the current crisis. Recent forecasts indicate that there will continue to be structural changes in economic sectors which will give rise to job losses due to some companies closing down or others relocating. I would like to emphasise that many Member States have not enjoyed the benefits of the EGF so far because they have not been faced with huge closures or relocations. Due to the recent restructuring among businesses, there is the risk of redundancies becoming a frequent occurrence in the period immediately ahead. This is why I think that extending the derogation against the backdrop of the crisis is an absolute must. The importance of providing funding with the support of the EGF lies in its flexibility. By providing aid promptly to the affected workers for a limited period of time, the EGF helps reduce unemployment and enables Member States to emerge from the economic crisis en route towards smart, sustainable and inclusive growth."@en1

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