EU offers financial package to fight globalisation effects
12 Oct '05
1 min read
The European commission is set to re-table its proposal for a €7bn package to help countries affected by globalisation and industry restructuring.
The 'growth adjustment fund' proposal will be included in a paper the commission is to adopt next Thursday (20 October) and is to be presented at a meeting of EU leaders later this month.
The Commission was asked to come up with an idea on what Europe should do to meet the challenges of globalisation - but the fund it is proposing is directly linked to negotiations on the next EU budget (2007-2013), which have been blocked since June.
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