European aid 6,4 in EUR million 557 redundant supermarket “Larissa”
Members of the EP Budgets Committee on Monday gave the green light to European aid amount 6.468.000 euro in Greece in order to help 557 redundant supermarket “Larissa” in search of a new job. 543 in addition, young unemployed people will benefit from this program. The support from the European Globalization Adjustment Fund (ETP) it now remains to be approved by the plenary session of the EP and the Council of Ministers.
The 422 employees and the 135 worker-owners fired from Larissa Supermarkets after co-op goes bankrupt. These job losses were the result of a reduction in the purchasing power of Greek households and a drastic reduction in lending to businesses and individuals, due to the prolonged global financial and economic crisis which has deeply affected the Greek economy.
Greece decided to include in the program and 543 young people who are out of work, education or training. Support measures co-financed by the EGF and the Greek state will help these people find new jobs, providing them with career guidance services, vocational training, special consulting services for entrepreneurship, as well as business start-up contributions and various allowances (training, mobility etc).
Most of the layoffs concern the region of Thessaly where the 73,5% of unemployed people are long-term unemployed (unemployed for a period of more than 12 months).
The draft resolution of the rapporteur Liadh Ni Riada (European Union Left, Ireland) approved with 23 upvotes and 3 against.
The plenary vote is scheduled for 26 May while the Council is expected to approve the application on 6 June.
What is the European Adjustment Fund?;
The European Globalization Adjustment Fund was created to help people who lose their jobs due to market changes brought about by globalization and the economic crisis. Between 2014 and 2020 the annual ceiling of funding from the fund amounts to 150 million. euro.
Redundancies receive various types of support such as support to start their own business, assistance in finding employment, counseling and retraining. In most cases the national authorities have already proceeded to provide assistance to the dismissed and subsequently receive financial support from the Fund if their application is approved.
Source: European Parliament News
