On 16 December 2008, the European Commission moved to help people made redundant as a result of the economic crisis by improving the European Globalisation adjustment Fund (EGF).
The proposal to revise the EGF aims to bring its operations closer into line with its objective of solidarity towards workers who have lost their jobs – in particular in these times of economic crisis. The new proposals will make the EGF a more effective crisis response instrument, helping more people to find their way back into the labour market.
In its European Economic Recovery Plan of 26 November 2008, the Commission announced its intention to revise the EGF to extend its scope as part of the Europe's crisis response package and to make it a more effective intervention instrument, in line with the fundamental principles of solidarity and social justice.
To achieve the objective of showing solidarity towards workers who lose their jobs, the proposal makes changes to the existing EGF regulation (1927/2006) which should allow it to help a larger number of redundant workers back into the labour market.
The changes should enhance the performance of the Fund by: