The European Commission has today adopted the German federal Operational Programme for the implementation of the European Social Fund (ESF) in the period 2014-2020. This programme outlines the priorities and objectives to spend over €4.8 billion (of which over €2.6 billion from the ESF), contributing to creating jobs and strengthening social cohesion across Germany.
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It pays off to ensure that young people quickly find relevant jobs, where their productive potential can be realised. For this, we need not only education and training but also active labour market policies, high performing Public Employment Services as well as measures stimulating demand for labour, such as targeted hiring subsidies, all embedded in Youth Guarantee schemes.
We need to continue to monitor the implementation and results of the Compact. The Commission remains fully committed to pursuing its intense cooperation with partners to achieve further tangible improvements.
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More than 20,000 entrepreneurs have already benefited from loans and guarantees worth a total of €182 million under the European Progress Microfinance Facility, according to the latest European Commission report about the implementation of this financial instrument.
Let me be crystal-clear: no monetary union can be sustainable or legitimate without upward convergence of social standards — convergence that must draw inspiration from the founding texts, among which the European Social Charter has a central place.
Today, on the occasion of the International Day for the Eradication of Poverty, I would like to express my solidarity with all those around the world that are exposed to poverty and social exclusion.