Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-182-750"
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"en.20111116.18.3-182-750"2
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The European Globalisation Adjustment Fund (EGF) was created in order to provide additional assistance to workers suffering from the consequences of major structural changes in world trade patterns. As a small export-oriented economy, Ireland suffered from the effects of the credit crunch on its major trading partners as a result of the financial crisis, which in this particular case is related to the sub-prime mortgage crisis in the United States in mid-2007. Given that the credit crunch severely affected the banks in Ireland, with further effects on mortgage loans and building activity in the country, I voted for the proposal for a decision on mobilisation of the European Globalisation Adjustment Fund for Ireland."@en1
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