European Globalisation Adjustment Fund

The European Fund for Adjustment Fund (EGF ), also briefly called globalization fund is a financial instrument of the European Union ( EU) for one-time, temporary help workers in industries and regions, " the basis of the result of major structural changes in world trade patterns globalization have become unemployed. " the Globalisation Fund complements the European Social Fund (ESF ) and the 2007-2013 running of the EU PROGRESS program.

The Globalisation Fund (3 TFEU of the present Article 175 subpara. ) Was established by Regulation (EC ) No 1927/2006 of 20 December 2006 on the basis of Article 159, subparagraph 3 of the EC Treaty established and met for the 19th January 2007. It is equipped with every year up to 500 million euros, which will be used to vocational rehabilitation. Of these resources can benefit estimates approximately 35,000 to 50,000 employees.

Measures are financed by the Fund, assist in finding employment, customized training, steps in the self-employment and business start-ups, mobility aid, aid for disadvantaged or older workers, so that they continue or re- enter the labor market available as well as other temporary " additional payments ".

The resources of the Fund shall be applied for by the EU Member States and will be released only in cases of at least 1,000 layoffs.

Germany has first made an application for funding in 2007. They related to the employees affected by the bankruptcy of BenQ. The EU has it approved a total of approximately 12.7 million euros from the fund.

In 2011, former employees of Heidelberger Druckmaschinen AG from the EGF get over eight million euro aid for training and job search. The order book of the company was broken as a result of the economic and financial crisis ..